PAN and Aadhaar (Pan-Aadhaar) both are essential documents of our identity in today’s time. Without these, we cannot complete the work related to financial and government schemes. The Income Tax Department has extended the last date for linking PAN with Aadhaar (Pan-Aadhaar Link) to 30 June 2023. From July 1, such PAN cards will be deactivated, which will not be linked to Aadhaar. 1000 rupees will have to be paid as a fine for linking PAN with Aadhaar. Meanwhile, a change has been made in the form for linking PAN with Aadhaar.

What has changed?

Now people will have to pay Rs 1000 as fine to link PAN with Aadhaar. When you pay the fine for linking PAN with Aadhaar, during this time you get the option of Assessment Year (AY). The Income Tax Department has now updated the assessment year. For payment of late fee, you have to choose the assessment year 2024-25. The previous deadline was March 31, 2023, for which assessment year 2023-24 was to be selected.

Won’t be able to do this

After the decision of the Finance Ministry to increase the last date for linking PAN with Aadhaar, it has been clearly said that if the new fixed date i.e. 30 June 2023 fails to do this work, then Your PAN card will be of no use. If this happens, then card holders will not be able to do things like mutual funds, stock market investments. In today’s time, from opening a bank account to doing real estate or any other deal, PAN card is the most important document.

May be fined heavily

When the Pan Card is deactivated, if you use it as a document for any financial work, then you may be fined up to Rs 10,000. Under Section 272B of the Income Tax Act, there is a provision for this much fine.

How to know whether Aadhaar is linked with PAN or not

To find out whether your PAN is linked to Aadhaar or not, you will have to visit the website of the Income Tax Department. After this click on ‘Link Aadhaar Status’. A window will open on your screen. In this, you have to click on ‘View Link Aadhaar Status’. Then a message will appear in front of you, from which it will be known whether your PAN is linked to Aadhaar or not.

Pan-Aadhaar linking is very easy 

• Log on to the official website of Income Tax www.incometax.gov.in.
• Go to the Quick Links section and click on Link Aadhaar.
• A new window will open on your screen.
• Enter your PAN number, Aadhaar number and mobile number here.
• Select the option of ‘I validate my Aadhaar details’.
• OTP will be received on your registered mobile number. Fill it and then click on ‘Validate’.
• After paying the fine, your PAN will be linked to Aadhaar.

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If both the documents are not linked by this date, the PAN cards will be deactivated on July 1. 1000 rupees will have to be paid as a fine for linking PAN with Aadhaar. Meanwhile, a change has been made in the form for linking PAN with Aadhaar.

Actually, while linking PAN with Aadhaar, the option of Assessment Year (AY) is available. The Income Tax Department has now updated the assessment year. You have to select the assessment year 2024-25 for payment of late fee. Earlier the deadline was 31 March 2023. That’s why they used to select the assessment year 2023-24.

If you don’t link it won’t work

In this case, the Finance Ministry says that if the link is not done till the last date, then its date will not be extended further. It means to say that if you do not link, then from July 1, your PAN card will be of no use. If this happens, then card holders will not be able to do things like mutual funds, stock market investments. Till now PAN card is also required to open a bank account. Whether you want to buy land or make a deal, PAN card is required everywhere. Without this, many types of difficulties can be faced.

How to know link is there or not

Whether your PAN is linked with Aadhaar or not. To know this one has to visit the official website of Income Tax. In the website you have to click on ‘View Link Aadhaar Status’. Then a message will appear in front of you. By which it will be known whether your PAN is linked with Aadhaar or not.

Know how to link

Linking PAN with Aadhaar is very easy. For this you have to visit the official website of Income Tax. First of all go to www.incometaxindiaefiling.gov.in. Go to the ‘Quick Links’ section on the homepage and click on the Link Aadhaar option. After this a new window will open. Here you have to enter your PAN number, Aadhaar number and mobile number. You will get OTP on the registered mobile number. Then after that click on Validate. After paying the fine, your PAN will be linked with Aadhaar.

The post PAN-Aadhaar Linking Rules: Major change in rules for linking PAN with Aadhaar, check new rules immediately first appeared on Rightsofemployees.com.