2022-03-29 09:46:46
*Important Communication and Update*
*PAN to AADHAAR Linking*
Check Your Pan to AADHAAR Link Status here
*https://eportal.incometax.gov.in/iec/foservices/#/pre-login/link-aadhaar-status*
If Not Linked Please Complete the PAN to AADHAAR Linking here
*https://eportal.incometax.gov.in/iec/foservices/#/pre-login/bl-link-aadhaar*
If you do not link your PAN to Aadhaar by March 31, you may face a slew of penalties, including the inactivation of your PAN. When your PAN becomes inoperative, it is the same as if you do not have the document at all.
The government has added a new section 234H to the Income Tax Act of 1961. This allows the authorities to impose a penalty on the individual if the work is not completed by the deadline. The CBDT has clarified, however, that the penalty cannot exceed Rs 1,000. However, that is not the only fine you will face; providing an invalid PAN will result in a Rs 10,000 fine.
If you do not have an active PAN, you will be unable to perform any work that necessitates the document. This includes any investment where your KYC is required to complete the transaction, such as a bank account, mutual funds, stock market, or other investments. To complete the KYC process, you must have an active PAN.
If your PAN is not linked to a bank account, you will be required to pay double TDS (Tax Deduction at Source). If your bank account is seeded with your PAN, you must pay a 10% TDS.
If you link your PAN and Aadhaar after the due date, the government may levy a fine at the time of linking, according to the CBDT. As a result, it is recommended that PAN Aadhar be linked before March 31, 2022.
There are two methods for linking your PAN to your Aadhaar card. One method is to use SMS, while the other is to use the official portal of the Income-Tax Department (Provided Link above)
2.4K views06:46
N
