Pan Aadhaar Link: The Income Tax Department has recently made it mandatory to link Aadhaar with PAN. If you do not link your Aadhaar with PAN within the stipulated time frame, then you will have to pay double the fee.
New Delhi. At present, PAN and Aadhaar are one of the most important documents. If you have not got your PAN and Aadhar link done yet, then get it done immediately, otherwise you will have to face a huge loss. The government has made it mandatory to link PAN and Aadhaar.
Double fees will have to be paid for not linking by July 1
The Income Tax Department has recently made it mandatory to link Aadhaar with PAN. If you do not link your Aadhaar with PAN within the stipulated time frame, then you will have to pay double the fee.
Till now this fee was Rs 500, but if you do not do this work before the stipulated time limit i.e. July 1, then you will have to pay double the fee. That is, now you will have to pay 1000 rupees as fee for not linking Aadhaar with PAN.
This loss will happen if you do not link
If you do not link Aadhaar with PAN within the stipulated time frame, you may face fines as well as many other losses. Your PAN card can be closed. Due to which you will not be able to do financial transactions. After the PAN card is invalid, you will face difficulty in filing ITR online.
Your tax refund may get stuck. Not only this, you will also not be able to use your PAN in financial transactions. Apart from this, you will not be able to use your PAN card even while opening a new bank account. Along with this, you may also have to pay a fine of up to 10 thousand rupees on invalid PAN card.
How will the link
To link PAN number and Aadhaar, one has to first go to the e-filing of income tax. Here on the left side there will be an option of Quick. In this, you have to click on the link Aadhaar option.
After this, PAN, Aadhaar number and name have to be entered. After this OTP will come on the registered mobile number. After entering it, Aadhaar and PAN will be linked.
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