Income Tax Dept adds option of ‘Fee for Delay in Linking PAN-Aadhar’: Link before 30th June

By Navasree A.M - On June 16, 2023 3:51 pm - 2 mins read
Income Tax Dept - Fee for Delay in Linking PAN-Aadhar -Delay in Linking PAN-Aadhar -Linking PAN-Aadhar - PAN-Aadhar- taxscan

The Income Tax Department has added the ‘Sub Payment Option’ in the minor head ‘other receipts’. The sub payment option has provided the option to select the fee for delay in linking Permanent Account Number (PAN)-Aadhar Card linking.

The last date to link PAN- Aadhar is 30th June 2023. The PAN of the non linked will be inoperative till they link it with Aadhar. 

The individuals who are not under the exempted category have to link the PAN-Aadhar card mandatorily with a late fee of Rs. 1000. The option to pay the late fee is added by the department. 

The Income Tax Dept through a press release issued on 28th March 2023 has extended the deadline to link the PAN and Aadhar card till 30th June 2023. From July 1st, 2023, the taxpayers who failed to link the same have to face the consequences.

Read More: PAN-Aadhar Linking: CBDT extends Deadline to June 30

The Income Tax Department has stated that more than 51 crore PANs have already been linked with Aadhaar till date.

Consequences of not Linking your PAN with Aadhar

  • Your PAN will become inoperative
  • TDS will be required to deducted at a higher rate
  • TCS will be required to be collected at a higher rate
  • Pending refunds and interest on such refunds will not be issued on such PANs.

Also, the Chief of Central Board of Direct Taxes (CBDT) has stated that non-linking of PAN-Aadhar may result in the denial of Income Tax benefits. PAN assists the Income Tax Authorities in tracking all financial transactions that may be required in assessing an individual’s or company’s tax obligation while lowering the risk of tax evasion.

Also, there are certain groups of people who are exempted from linking PAN with aadhar. These groups are as follows:

  • Individuals who are residents of Assam, Meghalaya, and the Union Territory of Jammu and Kashmir.
  • Non-residents as defined in the Income-tax Act of 1961.
  • Individuals who are 80 years of age or above at any point during the previous year.
  • Individuals who are not citizens of India.

Read more: Exemption from PAN-Aadhar Linking: Know if You Need to urgently Link or not

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