If you are going to file ITR and you have not yet done this work regarding PAN card, then you will have to pay a fine of Rs.6000.
This is because the income tax deadline is less than a month away and it will take a maximum of 30 days to activate the PAN card. If a PAN card is currently inactive, then it can be activated again after paying the fine. In such a situation, till the PAN card is activated, there is a possibility of missing the deadline for filing ITR.
How to file ITR after the deadline
If you do not file ITR till 31st July then you will have to file Late ITR. This is called belated ITR. Under this, taxpayers have to file ITR with penalty. In this case, if the PAN card is activated after July 31, then you will have to file a belated ITR. This means that you will have to pay the penalty for getting the PAN card activated and for delayed ITR.
How much will be the fine
If the total income is more than Rs 5 lakh, then you will have to pay a penalty of Rs 5,000 for delayed ITR filing. If your PAN is currently inactive, then you may have to pay a late fee of Rs 5,000. And the fine for linking your PAN with Aadhaar is Rs 1,000. In this case, a total fee of 6 thousand rupees will have to be paid.
However, if your total income does not exceed Rs 5 lakh, then a late fee of Rs 1,000 will be applicable for late ITR filing. This means that instead of 6 thousand rupees, you will have to pay only 2 thousand rupees.
ITR will be filled only if the fine has been paid
You will be able to file ITR only if you have already paid the penalty for linking PAN and Aadhaar. Means if you had paid the fine till June 30 for linking PAN and Aadhaar, then only you will be allowed to link PAN with Aadhaar. According to the tweet of the Income Tax Department, if the fine for linking has been paid by June 30 and the PAN is not linked, then it will be considered by the department.
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