Title: PAN Card Holders: Link Aadhaar Now and Avoid Late Fees
The Income Tax Department has advised all PAN (Permanent Account Number) cardholders to link their PAN with Aadhaar (Unique Identification Number) to keep financial vigilance and avoid fraud. The deadline for linking PAN with Aadhaar has been extended several times, and the latest deadline is June 30, 2023. In this article, we will discuss why it is essential to link PAN with Aadhaar and how to deposit the PAN link fee online.
Importance of Linking
According to the Income Tax Act 1961, all PAN cardholders who do not come under the exemption category must link their PAN with Aadhaar before June 30, 2023. Linking PAN with Aadhaar helps the government to track and monitor the financial transactions of taxpayers. It also helps in avoiding fraudulent activities like tax evasion and identity theft.
Deadline for Linking PAN with Aadhaar:
The Income Tax Department has given the deadline of June 30, 2023, for linking PAN with Aadhaar. If PAN is not linked with Aadhaar before the deadline, PAN will be canceled from April 1, 2023, under Section-139AA of the Income Tax Act. Therefore, it is advisable for all PAN cardholders to link their PAN with Aadhaar before the deadline to avoid any inconvenience.
Fee for Linking PAN with Aadhaar:
Earlier, the process of linking PAN with Aadhaar was free until July 1, 2022. After that, PAN cardholders were given the opportunity to link their PAN with Aadhaar until June 30, 2022, but a fee of Rs. 500 was charged. However, the deadline for linking PAN has been extended till March 31, 2023, and for this, PAN cardholders were charged a late fee of Rs. 1,000. Now, the latest deadline is June 30, 2023, and the fee for linking PAN with Aadhaar is Rs. 1,000.
Mode of Depositing PAN Link Fee:
PAN cardholders can deposit the PAN link fee of Rs. 1,000 online through the NSDL portal. To submit the request for linking PAN with Aadhaar, users must first visit https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp. Then, they need to click on PROCEED under CHALLAN NO./ITNS 280, choose Select Tax Applicable, and pay the fee of Rs. 1,000 in a single challan. Users can choose the mode of payment through Net Banking or Debit Card. After that, they need to enter the PAN number, select the specified year, enter the address, fill the captcha code, and click on proceed. Once the payment is done, the taxpayer can link PAN-Aadhaar.
FAQs
- What is the deadline for linking PAN with Aadhaar?
According to the Income Tax Department, all PAN holders who do not come under the exemption category must link their PAN with Aadhaar before June 30, 2023. If PAN is not linked to Aadhaar, PAN will be canceled from 1 April 2023 under Section-139AA of the Income Tax Act.
- Why is it necessary to link PAN with Aadhaar?
The Income Tax Department has advised all PAN users to link with Aadhaar to keep financial vigilance and avoid fraud. Linking PAN with Aadhaar will help the government to track and monitor financial transactions and prevent tax evasion.
- Has the fee for PAN link been increased?
No, the fee for linking PAN with Aadhaar has not been increased this time. The fee for linking PAN with Aadhaar is Rs 1,000.
- What is the mode of depositing the PAN link fee?
The fee for linking PAN with Aadhaar can be deposited online through the NSDL portal. Users can visit https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp and click on PROCEED under CHALLAN NO./ITNS 280 to submit the request for linking of PAN with Aadhaar. They can then choose the mode of payment through Net Banking or Debit Card and complete the process.