The Central Government has fixed 31 March 2023 as the last date for linking PAN and Aadhar card with fine. There is a provision of fine of Rs 500 for linking it by 30 June 2022. But from July 1, this fine will increase to one thousand rupees. If you have not linked it yet, then from July 1, i.e. today, you will have to pay a fine of 1000 rupees.
PAN-Aadhaar Link: The Income Tax Department had extended the deadline for linking PAN-Aadhaar in March. But, linking will no longer be free. Meaning pay the fine and you can get the link done. However, the news of relief is that the PAN card will not be invalid till March 2023. Till then you can link PAN-Aadhaar by paying a fine.
The Central Board of Direct Taxes (CBDT), which prepared the policy for the Income Tax Department, had extended the last date for linking PAN-Aadhaar till 31 March 2023. But, the service of free linking with the deadline was abolished.
PAN-Aadhaar Link: How much fine in which month?
In simple words, when the deadline was extended in March 2022, then from April 1, 2022 to June 30, PAN-Aadhaar linking can be done by paying a fine of Rs 500 for PAN-Aadhaar link. Today is its last day. Now from July 1, linking will be done only after paying a fine of Rs 1000. After March 2023, if there is no PAN-Aadhaar link, it will be deactivated. A penalty of Rs 500 has been imposed for the first three months of this financial year. Meaning you can link PAN-Aadhaar by paying Rs 500 for April, May and June. At the same time, the facility of linking will be available for the next 9 months i.e. from July 2022 to March 2023 by paying a penalty of Rs 1000.
Till when PAN card will not be canceled?
According to the notification of CBDT, your PAN will not be invalid (cancelled) till March 2023. There will be no interruption in any financial transaction during this period. From income tax return to ITR refund, PAN will continue to be used. According to the current system, the PAN card will be deactivated after March 2023. The linking of PAN-Aadhaar will help in eliminating ‘duplicate’ PAN and prevent tax evasion.
How to know if PAN is canceled or not?
You can find out whether your PAN card is active or not sitting at home. There is an online process of the Income Tax Department to check this, which is very easy. You can know it in 3 simple steps by visiting the website of Income Tax Department.
Step-1: Visit the Income Tax Department website incometaxindiaefiling.gov.in. Here are several calls from top to bottom on the left hand side.
Step-2: There is an option called Know Your PAN. After clicking here a window will open. In this, surname, name, status, gender, date of birth and registered mobile number will have to be entered.
Step-3: After filling the details, another new window will open. You will be sent an OTP on your registered one. OTP has to be submitted by entering it in the open window here. After this, your PAN number, name, citizen, ward number and remark will come in front of you. It will be written in the remark whether your PAN card is active or not.
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