PAN-Aadhaar Linking: According to the guidelines of the Central Board of Direct Taxes (CBDT), one had to link his PAN-Aadhaar by June 30, if this does not happen, then from July 1 the PAN will become inactive without being linked.
PAN-Aadhaar Linking: The last date for linking PAN card with Aadhaar card was June 30, 2023. The government has not yet given any indication whether the deadline for linking will be further extended or whether any relief will be given to those people whose PAN-Aadhaar linking has not yet taken place. So in this case, the unlinked PAN cards would have become inoperative by now. According to the guidelines of the Central Board of Direct Taxes (CBDT), one had to link his PAN-Aadhaar by June 30, if this does not happen, then from July 1, the PAN will become inactive without being linked.
What if the PAN becomes inactive?
If the PAN becomes inactive, the PAN holder will suffer many losses, especially when the time for filing income tax return is going on. PAN is a very important document for filing ITR. In the absence of PAN, banking and financial activities will stop.
– Will not be able to file ITR with inoperative PAN.
Pending returns of the defaulter will not be processed.
There will be problems in bank transactions and there will be difficulty in getting loan etc.
Tax refund will not be issued.
How to reactivate inactive PAN? (How to re-activate Inactive PAN)
You can link your PAN with Aadhaar even after the deadline has passed, but you will have to pay a hefty fee for this. According to the Income Tax Department, you can get your PAN card reactivated within 30 days by showing your Aadhaar. For this you will have to pay a penalty of Rs 1,000. That is, if you deposit your penalty on 5th July, then your PAN card will be activated again by 4th August.
Apart from this, the Income Tax Department had said last week that it can give relief to those people who had made the payment till June 30, but the linking process was not completed.
How to pay penalty for linking PAN-Aadhaar?
- Go to the tax e-filing portal of the Income Tax Department.
- Click on the option of Link Aadhaar in the profile section on the dashboard.
- Enter your PAN and Aadhaar details here.
- Click on Continue to Pay through e-Pay Tax.
- Enter your PAN and mobile number for OTP.
- After OTP verification, the e-Pay Tax page will open in front of you, click on the Proceed button here.
- Select AY 2024-25 and continue by selecting the Payment as Other Receipts (500) type.
- After making the payment, you can link PAN and Aadhaar.
