Picture courtesy www.paisabazaar.com
New Delhi: There’s still time. Before March 31, 2022 is behind us, all taxpayers in the country need to get their Aadhaar card linked with Permanent Account Number (PAN).
Anyone who doesn’t link the two documents will have to pay a penalty between Rs 500 and Rs 1,000 after Thursday.
According to the Central Board of Direct Taxes (CBDT), a late fee of Rs 500 will be charged in cases where Aadhar and PAN are linked within the next three months, that is, by June 30, 2022. For those who fail that deadline also, a fine of Rs 1,000 will be levied.
Non-linking with Aadhaar will lead to PAN becoming inoperative after March 31. It will be functional again only after paying penalties.
The Central government extended the deadline for linking Aadhaar with PAN several times.
According to data available with Income Tax department, around 50 crore PAN have been linked with Aadhar so far.
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