With just one day left for citizens to link their PAN card with the Aadhar number, the Central Board of Direct Taxes (CBDT) has said that people who miss the March 31 deadline will have to pay a fine.
Issuing a notification on Tuesday, the CBDT said that ₹500 will be charged if PAN and Aadhar are linked within three months after the March 31 deadline expires.
If the linking is done after three months, then people will have to pay a penalty of ₹1,000.
"Every person who, in accordance with the provisions of sub-section (2) of section 139AA, is required to intimate his Aadhaar number to the prescribed authority in the prescribed form and manner, fails to do so by the date referred to in the said sub-section, shall, at the time of subsequent intimation of his Aadhaar number to the prescribed authority, be liable to pay, by way of fee, an amount equal to, — (a) five hundred rupees, in a case where such intimation is made within three months from the date referred to in sub-section (2) of section 139AA; and (b) one thousand rupees, in all other cases," the CBDT notification on Tuesday read.
People must link their PAN with Aadhar to ensure they can conduct numerous transactions with PAN including opening a bank account, filing Income Tax returns, applying for debit or credit cards among others.
{{/usCountry}}People must link their PAN with Aadhar to ensure they can conduct numerous transactions with PAN including opening a bank account, filing Income Tax returns, applying for debit or credit cards among others.
{{/usCountry}}Here's how you can link PAN with Aadhar
People can link their PAN with Aadhar in the following ways: Through SMS, through the income tax website or by visiting a nearby PAN service centre.