New PAN Card-Aadhaar Card linking rule| How to Link PAN with Aadhar Card 2022?
New PAN Card-Aadhaar Card linking rule: it is very important to follow all the government rules. Government Creates all the rules and regulations for good and as Responsible Citizens, it is our responsibility to follow all the rules and Regulations. The Central Board of Direct tax has announced on 01-07-2022 that from today they are Extending the Date of the PAN Card-Aadhaar Card linking rule.
However, there is good and bad news about linking PAN cards with Aadhaar cards, As per the Official Circular issued by the CBDT, If PAN is Not Linked to Aadhaar will become Inoperative after 31 March 2023. And the good news is you can still use your pan card for a year. You have one year time period for PAN Card-Aadhaar Card linking rule.
New PAN-Aadhaar linking rule
The income Tax Department has announced that after 31 march 2023, they will charge a Penalty of Rs. 1000/- for not PAN Card-Aadhaar Card linking. They have announced another Rule PAN Card-Aadhaar Card linking rule that those Tex Payers Who link their PAN with their Biometric Aadhar Card by 30 June 2022, would be required to pay the Penalty of Rs.500/-. And beyond that penalty will raise Double by Rs. 1000/-. And it is better to link your PAN with the Aadhar Card than Pay such a big amount Of Penalty.
They have been Given Opportunity To the tax Payer for Link their PAN with their Aadhar till 31-9-2023 to intimate their Aadhar to the Prescribed Authority for PAN Card-Aadhaar Card linking without Facing Repercussions, the CBDT Said, adding Such Intimation Would Have to be Accompanied by late Fees.
PAN-Aadhaar linking rule: What If Your PAN Become Inactive?
After 31st March 2023, if you have Not Linked Your PAN with Your Aadhar Card, It Will Become Inactive, and the Consequences are under the Act for Furnishing. Intimating or Quoting the Pen shall apply to such Tex Payers. Once Your Pan Becomes In Active You Will be Restricted from doing Financial transactions, Subjected to the TDS at Higher Rates and Penalty Under Section 272B., in short, you have to face so many problems if your Aadhar card becomes Inactive.
Step By Step Process of PAN-Aadhaar linking rule
To PAN Card-Aadhaar Card linking, taxpayers have to first register on the Income tax e-Filing portal.
- Log in to the e-Filing portal of the Income Tax Department by entering the log-in ID, password, and date of birth
- After punching in the details, you will also have to feed in a code
- On logging in to the site, a pop-up window will appear, prompting you to link your PAN card with your Aadhaar card
- If not, you can go to the Profile setting and opt for the “Link Aadhaar” button
- Punch in the details such as name, date of birth, and gender. It will be already mentioned by you during registration on the e-Filing portal
- Verify the details on the screen with the ones mentioned on your Aadhaar card
- If the details match, enter your Aadhaar card number and click on the “link now” button
- You will get the message that your Aadhaar card has been successfully linked to your PAN card
Here in this article, we have provided you all the Possible Information about this new PAN-Aadhaar linking rule. Hope this Article will help you to know all the details which you are Searching For. So as mentioned in this Article you have still the time of almost 1 year. You are advised to Link your Important Document Aadhar with Pan. Do this Process on time.
Official Website: Click Here
