ITR Filling Important news: Aadhaar-PAN may cost you Rs 6000 penalty

ITR Filling: Your PAN (Permanent Account Number) has probably been tagged inoperative if you haven’t linked it to your Aadhaar. The last date to do so was June 30. ITR Filling Important news, Aadhaar-PAN may cost you Rs 6000 penalty. The major impact of a failure to link will be on income tax return (ITR) filing since only three weeks are left to do that.

While you may not be able to file your ITR until your PAN-Aadhaar get linked, even if you start the linking process now, it may take a month to do so, and you will have to shell out a maximum of Rs 6,000 to file your ITR after July 31.

The Finance Department has warned that if ITR is filed without linking Aadhaar and PAN, a fine of up to Rs 6000 will be imposed. The deadline for linking PAN with Aadhaar was given till June 30 this year. If they fail to do this, their PAN will become invalid on July 1, 2023, it said.

It has been suggested that if PAN is deactivated, they will not be able to use their accounts to avail certain PAN card based services. Moreover, you may not be able to file your Income Tax Return (ITR) before July 31, 2023. Because the ITR deadline is less than a month. It is said that if the PAN is inactive even after you have already paid the fine, it will take 30 days to get it active again.

In case of delay in filing ITR due to PAN card, there is also a penalty of Rs 5,000. So, if your PAN is currently inactive you will have to pay a late filing fee of Rs 5,000 plus Rs 1,000 for linking PAN and Aadhaar.

Taxpayers who have not linked their Aadhaar with PAN should do so as soon as possible. It is recommended that they file their income tax returns by the due date 31 July 2023. Taxpayers who are unable to file their income tax returns by 31st July can file late returns till 31st December 2023.

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