Rs 10,000 Penalty If PAN Card Not Linked With Aadhaar Before March 31; PAN Will Be Deactivated!
March 31, 2020 is going to be an important day for all those Indias, who fail to link their Aadhaar with PAN Card.
Not only their PAN Card will be deactivated, but also they will have to pay Rs 10,000 penalty!
Rs 10,000 Fine For Not Linking Aadhaar With PAN
Income Tax department has set March 31st, 2020 as the final deadline for linking PAN Card with Aadhaar.
In case any PAN Card is not linked with Aadhaar by March 31st, then not only their Aadhaar will be deactivated, but also they will need to pay a penalty of Rs 10,000.
Now, this penalty of Rs 10,000 will be imposed, only if the PAN Card attempts to carry a financial transaction or verification or tax related activity using PAN Card.
This will be done under Section 272B of the Income Tax Act, which states, “If a person fails to comply with the provisions of section 139A, the Assessing Officer may direct that such person shall pay, by way of penalty, a sum of ten thousand rupees,”
At the same time, note that the PAN Card holder whose Aadhaar is not linked can carry out non-financial and non-tax activity without paying any penalty such as bank account or driving license verification.
Besides, the PAN Card which is not linked with Aadhaar will be deactivated as well.
How To Link Aadhaar With PAN Card?
It is very easy to link to your 12-digit UIDAI-issued Aadhar number with your 10-digit alphanumeric PAN!
All you need to do is visit the Income Tax website, and follow the simple steps.
Or, you can send SMS to 567678 or 56161 using your Aadhaar linked number.
In case PAN Card is not linked with Aadhaar, and you attempt to file tax using the same PAN card, then penalty of Rs 10,000 will be imposed.
We will keep you updated, as more details come in.