IT Department Alert for PAN Aadhaar Linking: The new financial year will start from 1 April 2023. In such a situation, before the beginning of the new financial year (Financial Year 2023-24), there are such financial tasks which are very important to be completed by March 31. If you do not do this then you may suffer huge financial loss.
The Income Tax Department is repeatedly issuing alerts to the taxpayers to complete these works. If you have not yet linked PAN and Aadhaar, then complete this work today itself. If you don’t do this, you can suffer a lot of damage.
Income Tax Department gave information by tweeting
If you fail to link PAN and Aadhaar before March 31, 2023, PAN will be deactivated from April 1. In such a situation, you will be deprived of availing the benefits of many PANs. Giving information by tweeting on this matter from its official Twitter handle, the Income Tax Department told. The last date to link your PAN and Aadhaar is near! As per the IT Act, 1961, all PAN holders are required to link PAN and Aadhaar by 31.03.2023. In case of not doing so, your PAN will be deactivated on 1.04.2023. Link it today!’
Last date to link your PAN & Aadhaar is approaching soon!
As per IT Act,1961, it is mandatory for all PAN holders, who do not fall under the exempt category, to link their PAN with Aadhaar before 31.3.23. From 1.4.23, the unlinked PAN shall become inoperative.
Please link today! pic.twitter.com/aB1W4nA7G9
— Income Tax India (@IncomeTaxIndia) Mar 18, 2023
This will be a huge financial loss if the PAN becomes inactive.
Along with this, the Income Tax Department has also informed that for linking both the documents till March 31, you will have to pay only Rs 1,000 as fine. On the other hand, to reactivate the PAN from April 1, you will have to pay a fine of Rs 10,000. Only after this your PAN will be activated again. In case of inoperative PAN, taxpayers will not be able to file their income tax return. Along with this, you will not be able to invest in many places like share market, mutual funds etc. Significantly, any kind of transaction can be tracked by linking Aadhaar and PAN. This helps in curbing the problem of fraud and tax evasion.
How to link PAN Aadhaar-
- For this purpose, go to the e-filing website of PAN card holders income tax www.incometax.gov.in.
- If you have not registered here, then do this work immediately.
- Login by entering User ID, Password and Date of Birth
- Then a pop up window will open in front of you, in which the option to link PAN Aadhaar will be visible.
- In this option, details like name, date of birth and gender will already be filled according to your PAN.
- After this verify your Aadhaar and PAN details.
- Next click on the option of Link Now.
- After this you will be given a message saying that your PAN and Aadhaar have been successfully linked.
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