The deadline to link Aadhaar and PAN is June 30, 2023, therefore if you have not yet done so, you should do it right away to prevent any repercussions.
The deadline for linking PAN and Aadhaar has been extended to June 30, 2023, per a press release from the Income Tax department. As a result, people can inform the required authority of their Aadhaar for Aadhaar-PAN linking without suffering consequences.
The Income Tax website states that “Both registered and unregistered users can link their Aadhaar and PAN on the e-Filing portal (www.incometax.gov.in), in both pre-log in and post login mode.”
What is the cost of linking your PAN to your Aadhaar?
Starting on July 1, 2022, a single challan must be used to pay the requisite fee of Rs 1000 before submitting an Aadhaar-PAN linking request on an e-filing platform.
How to connect Pan-Aadhaar to punishment
Step 1: Access the IEC/FO Portal at https://www.incometax.gov.in/.Click Link Aadhar under the option to Link Aadhar to PAN in the Profile Section of the Dashboard.
Step 2: Enter your Aadhar Number and PAN.
Step 3: Select Continue to Pay Through e-Pay Tax from the menu.
Step 4: To receive an OTP, enter your PAN, validate your PAN, and mobile number.
Step 5: You will be taken to the e-Pay Tax website following OTP verification.
Step 6: On the Income Tax Tile, click Proceed.
Step: 7 Choose the AY 2024–2025 and Other Receipts (500) as the type of payment, then click Continue.
Step 8(a): The appropriate amount will already be pre-filled under Others.
On the e-Filing Portal, after making payment, you can link your Aadhaar number with PAN.
Banks with e-Pay Tax authorization
Bank of Baroda, Bank of India, Bank of Maharashtra, Canara Bank, Central Bank of India, City Union Bank, Federal Bank, HDFC Bank, ICICI Bank, IDBI Bank, Indian Bank, Indian Overseas Bank, IndusInd Bank, Jammu & Kashmir Bank, Karur Vysya Bank, Kotak Mahindra Bank, Punjab National Bank, South Indian Bank, UCO Bank, and Union Bank of India are just a few examples. (as on 31.03.2023)
What will happen if I don’t link my Aadhaar and PAN until June 30, 2023?
Your PAN will expire on June 30, 2023, if your Aadhaar and PAN are not linked.
You will not be able to provide, intimate, or cite your PAN if it becomes inoperative, and you will be held accountable for all Act-related penalties for this failure.
This will have a number of effects, including: No refund of any tax amount, or portion thereof, due under the terms of the Act shall be made; No interest shall be payable on such refund for the period beginning on the date specified under sub-rule (4) and ending on the date it becomes effective;
If a person is subject to tax deductibility under Chapter XVIIB, the tax must be withheld at a higher rate in accordance with the provisions of Section 206AA; if a person is subject to source tax collection under Chapter XVII-BB, the tax must be withheld at a higher rate in accordance with the provisions of Section 206CC.