PAN-Aadhaar link: Although the Central Board of Direct Taxes (CBDT) has extended the PAN- Aadhaar linking deadline to March next year, however, if a taxpayer or individual does not link these two important personal identifications then they will be facing a penalty. Pay Rs 500 fine if failed to link PAN-Aadhaar before this date.
The government has been motivating citizens to link their Permanent Account Number (PAN) with the 12-digit identification number, Aadhaar since 2017. With effect from April 1, 2017. The decision of the Income Tax department to make PAN – Aadhaar linking compulsory was to avoid duplication or bogus PANs.
It was brought to notice that multiple PANs have been allotted to one person or one PAN is allotted to more than one person and hence the IT department brings forth the process of de-duplication of PAN database with the section mentioned above.
However, the deadline to link PAN with Aadhaar has been extended on several occasions and now the latest due date is set on March 31, 2023. To ensure that taxpayers are giving importance to PAN – Aadhaar linking, the department has announced a host of penalties that can be avoidable or lessened only if the linking is done.
On March 30, CBDT introduced a sub-section (2) under section 139AA. Under the new provisions of the sub-section, CBDT directs that a fine of Rs 500 is levied “in case where such intimation is made within three months from the date referred to in sub-section (2) of section 139AA.”
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The new guidelines have come into effect from April 1, 2022. That means, a penalty of Rs 500 is applicable for PAN – Aadhaar linking within three months, i.e. June 30, 2022. If failure to do so after June 30, then the penalty has been increased to Rs 1,000 in all other cases.
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