PAN-Aadhaar linking: ₹1,000 penalty from July 1; details here

June 30 is the last day to link your Permanent Account Number (PAN) with your Aadhaar. Failure to link would attract a penalty of ₹1,000 from July 1 onwards, twice the earlier penalty of ₹500, set by the Central Board of Direct Taxes (CBDT).

The linking can be done online, four to five days after paying the penalty, informed the Centre.

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“Link PAN Aadhaar started. A fee of ₹500 payable if linked up to 30/06/22, else fee payable is ₹1,000. Fees to be paid by Challan No ITNS 280 with Major head 0021 (Income Tax Other than Companies) & Minor head 500 (Fee). Try to link after 4-5 working days from date of payment,” a tweet by Taxation Updates.

As per a CBDT circular, PAN cards which have not been linked with Aadhaar would become non-operational after March 31, 2023. Thus, those who haven’t linked their PAN with Aadhaar would still be able to use their PAN card till March 31, 2023, for filing income tax returns, claiming refunds and other income tax procedures.

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Taxpayers who fail to link PAN with Aadhaar by March 31, 2023, will face consequences for not furnishing, intimating or quoting the PAN, the CBDT said. They will be be restricted from participating in any financial transactions, and will be subjected to TDS at higher rates and a penalty under section 272B.

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Here is how to link your PAN with Aadhaar:

1-Open the website-https://www.incometax.gov.in/iec/foportal

2-Register with your PAN number as the user ID

3-Log in to the online portal by entering your details

4-Look for a pop-up window asking you to link your PAN with Aadhaar

You can also visit your nearby PAN service center to link your PAN with Aadhaar.