PAN-Aadhaar Link process: If you have a PAN card, then know about this alert of the Income Tax Department because due to a small mistake, you may have to pay a fine of Rs 10,000.
Income tax department: The Income Tax Department has once again alerted the PAN card holders. It has been told by the department that many PAN cards will be closed from April 1, that is, by March 31, you should link the PAN card with Aadhaar. If you use this PAN card from April 1, then the Income Tax Department can impose a fine of Rs 10,000 on you. At present, to link PAN card with Aadhaar, you have to pay 1000 thousand rupees. If your PAN card becomes inactive then you will have to face many problems. Know what kind of trouble you can face and also know the process of linking PAN card with Aadhaar.
- Avoid fine of Rs 10,000 by paying Rs 1000
You can link PAN card with Aadhaar card by depositing an invoice of Rs 1000. Let us tell you that the Central Board of Direct Taxes (CBDT) is charging late fees from 30 June 2022 onwards. It has been told by the Income Tax Department that people who do not come under the category of exemption as per the Income Tax Act, 1961. Their PAN cards will become inactive from April 1.
- This is how a fine of 10 thousand rupees will be imposed
If your PAN card becomes inactive then you cannot use it for mutual fund or stock account. Apart from this, if you use this card as a document somewhere, then you may be fined Rs 10,000. Let us tell you that the Income Tax Department can recover Rs 10,000 from you under Section 272B of the Income Tax Act, 1961.
- Link PAN card in this easy way
- You can link PAN card with Aadhaar at home itself.
- Visit the e-filing website of the Income Tax Department.
- Here you can link PAN card with Aadhaar number.
- After this you have to enter your information. Like own name and date of birth.
- If only 1985 is written as the date of birth in your Aadhaar card, then put a right mark on the box.
- Enter the captcha code to verify.
- After this you will see “Link Aadhaar” written, click on it.
- In this way your PAN card will be linked with Aadhaar card.
- your money may get stuck
- You will not be able to buy gold worth more than Rs 5 lakh from anywhere.
- Will not be able to deposit or withdraw more than 50 thousand rupees in any bank.
- If the PAN card is inactive, you will not be able to file tax returns. In such a situation, your TDS can also sink.
- There may be problems while investing in mutual funds or stock market.
- There will also be problems in getting the benefits of government schemes.