PAN-Aadhaar Link: According to Central Board of Direct Taxes (CBDT), Aadhaar card can be linked to PAN card till March 31, 2023 by paying penalty. After which the PAN card will be deactivated.
PAN-Aadhaar Link last day:
Today (March 31, 2022) is the last day to link your PAN card with Aadhaar card. If the government does not extend the deadline for PAN-Aadhaar Link date, a penalty of Rs 500 to Rs 1,000 will be levied on non-linking of Aadhaar page from tomorrow. The CBDT (Central Board of Direct Taxes) has decided that those who do not link their PAN and Aadhaar by March 31, 2022, will have their PAN card deactivated. Which can later be reactivated by paying a penalty of Rs.500.
Term of three months
The Aadhaar card and PAN card have been given a period of three months to pay the penalty. That means Aadhaar card can be linked with PAN card by paying a penalty of Rs 500 till June 2022. However, after the expiry of this period, a penalty of Rs.1000 / – will be charged for linking Aadhaar card and PAN card.
How long will the PAN card remain active without being linked?
The last date for linking PAN card with Aadhaar card is March 31, 2022, CBDT said. The latter will have to pay a penalty for linking to Pan-Aadhaar. The CBDT said that from April 1, 2022, a penalty of Rs 500 will have to be paid for linking PAN card with Aadhaar. The fine will continue until June 2022. After which the amount of fine will increase to Rs. 1,000. This amount will be recovered till March 31, 2023. The CBDT said that after March 31, 2023, PAN cards which are not linked to Aadhaar will be deactivated.
What will be the effect of PAN card deactivation?
Taxpayers cannot use the PAN card to file an income tax return after the PAN card becomes inactive. That means they can’t file ITR. Can’t even get a refund. Cannot do other work related to income tax.
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According to statistics, as on January 24, 2022, 43.34 crore PAN cards have been linked to Aadhaar. So far, 131 crore Aadhaar cards have been issued in the country. Linking the PAN card to Aadhaar will help in canceling duplicate PAN cards and prevent tax evasion.