New Delhi: The last date to link your PAN (permanent account number) and Aadhaar is set for March 31 and a failure to do so could result in an invalid PAN Card.
As the govt. passed the Finance Bill, 2021 on Thursday, a new amendment has created problems for the people who have not linked their PAN to Aadhar card. According to the new amendment, the last date to link your PAN and Aadhar is 31st March and if a person fails to do so then the person will be fined up to Rs. 1000.
If a person is required to intimate his PAN and Aadhar under the section 139AA(2) and if he fails to do so, then under the new section 234H that person will be liable to pay a fine not exceeding Rs. 1000 at the time when he is linking the two IDs. A person might have to pay some other charges as well if his PAN becomes non-operational due to non-linking with Aadhar.
If you have not the linked the two IDs yet then follow these steps to link them:
- Visit this link
- Fill in the PAN number, Aadhaar number, name and the CAPTCHA.
- Click on the ‘Link Aadhaar’ option. The income tax department will validate your details, thereafter your PAN- Aadhaar linking will be completed.
Rules
Under Section 139AA, it is mandatory for every person to provide the Aadhaar number in their income tax return and the application for the allotment of PAN provided the person is eligible for Aadhaar.
Apart from this every person whose PAN was allotted as of 1 July 2017 and who is eligible to obtain an Aadhaar number is required to link the two. In case a person fails to do so before 31st March 2021, their PAN card will become inoperative.
And as per the rule 114AAA, in case a person is required to furnish or intimate his PAN and his/her PAN is inoperative, it will be deemed as he or she has not furnished PAN.
And if a person gives an inoperative PAN or does not furnish his PAN then under various provisions of the Income Tax Act he or she may have to pay a higher TDS (tax deducted at source) or TCS (tax collected at source). That person might not be able to even file an income tax return and may face the consequences of not filing the tax return.
