The Finance Ministry clearly stated that individuals who have taken Permanent Account Number (PAN) on the basis of Aadhaar enrollment ID before 1 October 2024 can link their PAN with Aadhaar without any late fee charge. This linking has to be completed by 31 December 2025.

Government issued new instructions

The Central Board of Direct Taxes (CBDT) has issued a notification on 3 April 2025. It states that all such PAN holders are required to inform their Aadhaar number to the Income Tax Department. This notification is for those taxpayers who took PAN through Aadhaar enrollment ID before 1 October 2024.

Who will get the discount

Here, let us tell you that this exemption is applicable only in those cases where PAN was allotted on the basis of Aadhaar enrolment ID. In all other cases, a late fee of Rs 1,000 will be applicable for linking PAN and Aadhaar. If PAN is not linked to Aadhaar by the stipulated deadline, then PAN will not be active. If this happens, there will be problems in filing income tax returns, taking tax refund and completing many bank related financial tasks. If linking is not done by the stipulated time limit, then PAN may become inactive, which will cause problems in filing income tax returns, taking refund and doing financial transactions.

Complete the work of linking PAN with Aadhaar by 31 December

Therefore, persons who have taken PAN through Aadhaar enrolment ID are advised to link their PAN with Aadhaar before 31 December 2025 to avoid any hassle.

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The post Pan-Aadhar Linking FREE: Now these PAN card holders can link Aadhaar number to PAN for free. Check Details first appeared on Rightsofemployees.com.

All such PAN card holders will now have to give their real Aadhaar number to the Income Tax Department, so that their PAN and Aadhaar can be linked. This usually happens when someone’s Aadhaar number is not issued at that time. The last date for this has been fixed as 31 December 2025.

If the Aadhaar number is not given by this deadline, then many problems may be faced in the future. This is especially important for those who have to file income tax returns. Such people should complete the process of PAN-Aadhaar linking before 31 July, so that there is no problem while filing the return.

Read official notification

According to Notification No. 26/2025 issued by the Central Board of Direct Taxes (CBDT), those who have been issued PAN card on the basis of Aadhaar enrolment ID before October 1, 2024, will be required to provide their Aadhaar number to the Income Tax Department by December 31, 2025.

This direction has been issued under section 139AA (2A) of the Income Tax Act, 1961. The notification clarifies that the concerned person has to provide his Aadhaar number to the Principal Director General (Systems), Director General (Systems) of the Income Tax Department or the person authorized by them within the prescribed time limit.

Things required to link PAN-Aadhaar:

• Valid PAN number
• Aadhaar Number
• Active mobile number

How to pay fees online for PAN-Aadhaar linking:

Step 1: Visit the e-filing portal
First of all, go to the income tax e-filing website. Click on ‘Link Aadhaar’ in the ‘Quick Links’ section on the homepage. If you want, you can also go to the ‘Profile’ section after logging in and click on ‘Link Aadhaar’.

Step 2: Enter PAN and Aadhaar number
Enter your PAN and Aadhaar number and then click on ‘Continue to Pay’.

Step 3: Generate OTP
Re-enter your PAN and enter any mobile number to get OTP. After verifying the OTP, you will be redirected to the e-Pay Tax page.

Step 4: Click on Income Tax tile
Now proceed by clicking on ‘Income Tax’ option.

Step 5: Select assessment year and payment type
Select the assessment year and choose ‘Other Receipts (500)’ in the payment type. Then click on ‘Continue’.

Step 6: Make payment and link Aadhaar
The fee amount will be pre-filled here. Click on ‘Continue’, after which the challan will be generated. Select the payment mode on the next screen. Visit the bank website and make the payment.

After paying the fees, you can link PAN with Aadhaar by visiting the e-Filing portal.

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The post PAN-Aadhaar linking: No late fee for THESE taxpayers till Dec 31. Read official notification first appeared on Rightsofemployees.com.

These are the people who have been allotted PAN on the basis of the enrollment ID of the Aadhaar form filled before 1 October 2024. Other normal PAN holders can currently link PAN with Aadhaar with a penalty. The deadline to do so without penalty was 30 June 2023.

In a notification issued on April 3, the CBDT said, ‘In exercise of the powers conferred by sub-section (2A) of section 139AA of the Income Tax Act, 1961 (43 of 1961), the Central Government hereby notifies that every person who has been allotted a PAN on the basis of enrolment ID in the Aadhaar application form filed before October 1, 2024, shall inform his Aadhaar number to the Principal Director General of Income Tax (Systems) or Director General of Income Tax (Systems) or the person authorised by these officers on or before December 31, 2025 or such date as may be specified by the CBDT.

PAN-Aadhaar can be linked both online and offline

Under this new notification, details about the process of linking PAN-Aadhaar or informing the Income Tax Department about the Aadhaar number have not been given. But it is being said that the commonly used process of PAN-Aadhaar linking can be applicable in this case as well. Let us tell you that PAN and Aadhaar can be linked online through the Income Tax Department website. PAN and Aadhaar can also be linked offline by visiting the service center of PAN service provider, NSDL or UTIITSL. For this, Form ‘Annexure-I’ will have to be filled and some supporting documents like a copy of PAN card and Aadhaar card will have to be taken along.

There should not be any mismatch in the details

Remember that for linking PAN and Aadhaar, it is necessary that there is no difference in the demographic details such as name, gender and date of birth in both the documents. If there is a mismatch in the details, the linking may be cancelled. This mismatch can be removed in two ways – either by making corrections in the PAN details or by making corrections in the Aadhaar details.

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The post PAN-Aadhaar Linking: CBDT issued a new notification regarding PAN-Aadhaar linking, check immediately first appeared on Rightsofemployees.com.

If you have not yet linked your PAN to Aadhaar, then you have the last chance. You must link your PAN to Aadhaar before 31 May. If you do not do this, you may have to suffer a big loss. Now the Income Tax Department has also advised taxpayers to link their PAN to Aadhaar before the last date of this month. If this is not done, then it is necessary to deduct TDS at twice the applicable rate.

According to the Income Tax rules, if the Permanent Account Number (PAN) is not linked to biometric Aadhaar, then it is necessary to deduct TDS at twice the applicable rate. The Income Tax Department had issued a circular last month stating that if the assessee links his PAN to Aadhaar by the date 31 May, then no action will be taken.

Also Read: What is PRAVAAH launched by RBI, how will it benefit you?

Income Tax Department appealed

Kind Attention Taxpayers,

Please link your PAN with Aadhaar before May 31st, 2024, if you haven’t already, in order to avoid tax deduction at a higher rate.

Please refer to CBDT Circular No.6/2024 dtd 23rd April, 2024. pic.twitter.com/L4UfP436aI

— Income Tax India (@IncomeTaxIndia) May 28, 2024

The department wrote on the social media platform ‘X’ on Tuesday, “To avoid deduction of tax at higher rate, please link your PAN with Aadhaar before 31st May 2024, if you have not done it already.” In a separate post, the IT department also asked reporting entities including banks, foreign exchange dealers to file SFT by May 31 to avoid penalty. The department said, “The last date for filing SFT (Statement of Specified Financial Transactions) is 31st May 2024. Avoid penalty by filing correctly and on time. ”

A fine can be imposed

Reporting entities foreign exchange dealers, banks, sub-registrars, NBFCs, post offices, bond/debenture issuers, mutual fund trustees, companies paying dividends or buying back shares are required to file SFT returns with the tax authorities. Delay in filing SFT returns can attract a penalty of up to Rs 1,000 for each ‘default’ day. Penalties can also be imposed for not filing SFT or filing incorrect details. The Income Tax Department keeps an eye on high value transactions made by a person through SFT.

The post I-T Department appealed: Link PAN to Aadhaar immediately before 31st May, Otherwise you will have to pay higher TDS first appeared on Rightsofemployees.com.

What is the latest update on PAN-Aadhaar linking?

The Income Tax Department said in a tweet on Friday that in cases where the PAN cardholder has made the payment and consented, but has not been linked by June 30, 2023, their cases will be considered by the department. .

The Income Tax Department said in its tweet that such cases have come to the fore, where it has been seen that PAN holders are facing difficulties in downloading the challan after paying the fees for PAN-Aadhaar linking. For such cases, it is being informed that the status of challan payment can be checked in the ‘e-pay tax’ tab after login on the income tax portal. If the payment is successful, the PAN holder can proceed with the process of linking PAN with Aadhaar.

Kind Attention PAN holders!

Instances have come to notice where PAN holders have faced difficulty in downloading the challan after payment of fee for Aadhaar-PAN linking.

In this regard, it is to be informed that status of challan payment may be checked in ‘e-pay tax’ tab of…

— Income Tax India (@IncomeTaxIndia) June 30, 2023

The department said that there is no need to download the challan receipt for linking. As soon as the PAN holder does the payment, an email is being sent to him along with the copy of the challan, so he need not download it separately.

How to check status of challan payment

Step 1: Login income tax website

Step 2: Under e-File, click on ‘e-pay tax’

Step 3: click on generated challans, here you can see all your failed and successful challlans.

Step 4: In the next tab click on ‘Payment history’ here you can see if the payment is successful. Click on download and save it.

However, if a payment is successful, then PAN holder can proceed to link PAN with Aadhaar. There is no need of downloading of the challan receipt for linking PAN with Aadhaar.

Step 5: On successful payment, an email with an attached copy of the challan will be sent to the PAN holder.

The tweet also said that the Department will review cases where fee payment and consent for linking have been done but linking has not been completed by June 30, 2023.

The post PAN-Aadhaar linking! How to check status of challan payment , know complete process first appeared on Rightsofemployees.com.

However, in the meantime, the Central Board of Direct Taxes (CBDT) has issued a notification saying that some people can be given relief even after not having a PAN-Aadhaar link. Taxpayers who have deposited their Aadhaar-PAN linking fee before the June 30 deadline. Their PAN will be saved from being inoperative and relief will be given in this matter.

The Income Tax Department said in its tweet that such cases have come to the fore, where it has been seen that PAN holders are facing difficulties in downloading the challan after paying the fees for PAN-Aadhaar linking. For such cases, it is being informed that the status of challan payment can be checked in the ‘e-pay tax’ tab after login on the income tax portal. If the payment is successful, the PAN holder can proceed with the process of linking PAN with Aadhaar.

The Income Tax Department gave relief.

The department further said in a tweet that in cases where the PAN cardholder has paid and given consent, but their linking has not happened by June 30, 2023, their cases will be considered by the department. will be done and they will be given relief.

No need to download the challan receipt

The Income Tax Department said that there is no need to download the challan receipt for linking half of the PAN. The department said that as soon as the PAN holder completes the successful payment, an email is being sent to them with a copy of the challan. In such a situation, they do not need to download it separately.

Let us tell you that the law to link PAN with Aadhaar has come into force from July 1, 2017. Yesterday i.e. 30 June 2023 was the last date to link it. In such a situation, if a person has not been able to link his Aadhaar with PAN by June 30, 2023 and wants to link it at a later date, both can be linked after paying a fine to the Income Tax Department.

The post Income Tax Department gave big relief on PAN-Aadhaar linking, know who will get its benefit first appeared on Rightsofemployees.com.

Today i.e. from July 1, for linking of Aadhaar and PAN card, more fine may have to be paid than before. At the same time, tell that till June 30, for linking Aadhaar and PAN card, 1000 rupees had to be deducted as a fine. At the same time, many people have also had to face problems. In this, the Income Tax Department has clearly issued a notification.

No need to download challan

At the same time, the Income Tax Department gave information about this by tweeting and said that some cases have come to the fore where PAN card holders do not face much difficulty in downloading the challan after paying the linking fee of Aadhaar card and PAN card. Had to do And it is informed that the payment status of the challan can be checked in the e-pay tax tab of the portal after login. If the payment is successful, the PAN cardholder can proceed to seed it with Aadhaar.

There is no need to download the challan receipt for linking PAN card with Aadhaar card. And as soon as the PAN cardholder successfully completes the payment, a mail is being sent to the PAN cardholder with a copy of the challan.

Whose pan card will not be deactivated

However, people have been given relief even in such cases where consent has been obtained for payment of money and linking. But Aadhaar and PAN link could not be done till 30th June. In this situation the PAN card will be further considered by the Income Tax Department before deactivating it.

What happens if deactivated

For information, tell those who have not linked PAN card with Aadhaar card till 30 June 2023. His PAN can be deactivated from today i.e. 1st July. Being deactivated means that you will not be able to open a bank account. Nor can they take income tax refund. On the other hand, in simple language, there can be a problem in all the work related to finance, in which PAN card is used.

What is option

Let us tell you that the government has extended the deadline for linking of Aadhaar and PAN card. But even now you can link Aadhaar and PAN card. Now you may have to pay more fine than before. There was a provision to get the linking done by June 30 with a fine of Rs 1,000. Explain that to link PAN and Aadhaar card, you have to visit the website of Income Tax e-filing portal https://incometaxindiaefiling.gov.in/.

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The Income Tax Department has given relief to those who could not link PAN with Aadhaar despite depositing the penalty on June 30, 2023, the last date for linking PAN Aadhaar. Income Tax Department has issued clarification on PAN-Aadhaar linking. Individuals who have paid fine and obtained consent to link PAN with Aadhaar, but have not been linked by 30 June 2023, will be considered by the Income Tax Department, according to a tweet by the Income Tax Department. .

Income Tax Department said that PAN holders please take note! There have been cases where PAN holders have faced difficulty in downloading the challan after paying the fee for Aadhaar-PAN linking. In this regard, it is informed that the status of challan payment can be checked in the ‘e-pay tax’ tab of the portal after login. If the payment is successful, the PAN holder can proceed to link PAN with Aadhaar. There is no need to download the challan receipt for linking PAN with Aadhaar. Further, as soon as the PAN holder completes the payment successfully, an email with an attached copy of the challan is already being sent to the PAN holder.

Income tax department will consider penalty depositors

The Income Tax Department said that in cases where consent for fee payment and linking has been received, but linking has not been done by June 30, 2023, such cases will be duly considered by the department.

The law to link PAN with Aadhaar is applicable from 2017

The Income Tax law to link PAN with Aadhaar came into force from 1 July 2017. Since then the deadline for linking PAN with Aadhaar has been extended several times. Apart from this, in Budget 2021, the government had added section 234H to impose penalty for linking PAN with Aadhaar after the deadline. There was no penalty amount for linking it till 31 March 2022. A fine of Rs 500 was to be imposed for linking PAN with Aadhaar between April 1, 2022 and June 2022. If PAN is linked with Aadhaar on or after July 1, 2022, then a penalty of Rs 1,000 has been implemented for linking PAN with Aadhaar.

What if PAN is not linked

The Income Tax Department has said that keep in mind that if PAN is not linked to Aadhaar by June 30, 2023, then PAN will become inactive. Once the PAN becomes inoperative, there is no income tax refund. Higher TDS and TCS is applicable on income and expenditure. Users will not be able to invest in bank FDs, mutual fund schemes etc. and will face difficulties in buying and selling property as well as bank transactions and account opening.

The post Pan Aadhaar Link Update: Income Tax Department issued clarification on PAN-Aadhaar linking, relief to such PAN users! first appeared on Rightsofemployees.com.

However, despite the mandatory PAN-Aadhaar linking, there are some people in the country who are exempted from this requirement. Aadhaar of these people will not be inoperative even if they are not linked with PAN, if they want to link PAN with Aadhaar, they will not be given penalty. Let us know who do not need to link Aadhaar-PAN.

These people are required to link

As per section 139AA of the Income Tax Act, 1961, every person who has been allotted PAN as on July 1, 2017, and is eligible to obtain an Aadhaar number, shall do so within the deadline of June 30 It is necessary to link your Aadhaar with PAN. If this does not happen, then the person’s PAN card will become inactive.

How much will be charged after June 30,

if you do not link till June 30, then from July 1 you will also have to pay. This means that if the inoperative PAN is activated again, then a fee of Rs 1000 will have to be paid. This is the reason why the department is constantly warning that PAN and Aadhaar should be linked.

Know who has got exemption

1. Residents of the states of Assam, Jammu and Kashmir and Meghalaya.
2. Non-Resident Indian (NRI) as per Income Tax Act, 1961.
3. Any person who was of the age of 80 years or more at any time during the previous year.
4. Persons who are not citizens of India.

The post Don’t panic! It is not necessary for everyone to link PAN-Aadhaar, these people have got exemption first appeared on Rightsofemployees.com.

The last chance to link PAN card with Aadhaar card will end today. This means that if you do not link it by June 30, 2023 i.e. today, then your PAN card will be of no use. This document will be completely useless. You will not be able to use PAN card anywhere. Also, will not be able to take advantage of many facilities. However, if you have already linked Aadhaar and PAN, then you do not need to worry. 

PAN card is used for opening bank account, investing in fixed deposits, opening demat account and investing in mutual funds. If you are going to link your PAN and Aadhaar today, then you will have to pay the late fee. This amount will be 1000 rupees. PAN and Aadhaar can be linked only after making the payment, which will be confirmed by the Income Tax Department. 

Will the government extend the deadline for linking PAN-Aadhaar? 

In the ET report, quoting experts, it has been said that the government should increase the deadline for linking PAN and Aadhaar. Because if this is not done then many problems can arise. Experts have argued that the deadline for filing income tax return is 31st July, in which case the deadline for linking PAN is terminated on 30th June itself, for those taxpayers who have not linked PAN. Those people will have to face problems. On the other hand, some say that due to the end of the PAN linking deadline, many works can be pending, in which case the deadline for linking it should be increased by about 4 months. 

What will not happen if PAN is not linked 

• You will not be able to file the return. Last date for filing return is 31st July
• Late returns will not be processed
• Your tax refund will increase
• Amendment in income tax return will also not be allowed
• No interest will be earned on such refund
• TDS and TCS can be deducted at higher rate
• Such PAN will also affect banking transactions.

How to link pan with aadhaar 

You can link PAN with Aadhaar by visiting the official website of Income Tax Department www.incometax.gov.in . The Central Board of Direct Taxes (CBDT) issued a notification on March 2022 saying that it is mandatory for all people to link Aadhaar with PAN. 

The post PAN-Aadhaar Linking: Today is the last chance to link PAN-Aadhaar, know whether the government will extend the deadline first appeared on Rightsofemployees.com.

The Income Tax Department has given a deadline of June 30, 2023, to link Aadhaar card and PAN card (PAN-Aadhaar Linking). If a person does not link Aadhaar and PAN card by the June 30 deadline, then their PAN will become inactive.

That is, they are required to submit PAN card as an important document for many government and non-government works. To do that work one has to face the problem. Although the Income Tax Department has given exemption to some categories. For whom the deadline for linking Aadhaar card and PAN card is not 30 June 2023.

Who needs to link Aadhaar Card with PAN Card?

As per section 139AA of the Income Tax Act, 1961, every person who has been allotted PAN as on July 1, 2017, and is eligible to obtain an Aadhaar number, shall link his Aadhaar with PAN within the deadline of June 30. It is necessary to do.

If this does not happen, then the person’s PAN card will become inactive. If the Income Tax Department has extended the deadline of this link. Like it has been extended many times in the past, then till the next date, you will get time to link PAN Aadhaar card.

Aadhaar-PAN linking not mandatory for these people –

The mandatory requirement of linking Aadhaar with PAN does not apply to these four categories

1. Residents of the states of Assam, Jammu & Kashmir and Meghalaya.
2. Non-Resident Indians (NRIs) as per the Income Tax Act, 1961.
3. Any person who was of the age of 80 years or more at any time during the previous year.
4. Persons who are not citizens of India.

Those who fall in any of the above categories are not required to link their PAN with their Aadhaar till June 30, 2023. But they can voluntarily link both the documents if they want. Apart from these four categories, it is mandatory for all persons to link their Aadhaar with their PAN card by June 30.

What if you do not link your PAN with Aadhaar by 30 June 2023?

Many people have a question that what will happen if they do not link PAN card and Aadhaar card even by the given deadline i.e. June 30, 2023? In such a case the PAN of the taxpayers will be deactivated.

You will have to pay late fee. Now linking PAN with Aadhaar will attract a late fee of Rs 1,000. That’s why it is better to link PAN card with Aadhaar card before the given deadline and avoid other problems.

The post PAN-Aadhaar linking is not mandatory for these categories till June 30, 2023 first appeared on Rightsofemployees.com.

However, a late penalty of Rs.1,000 should be paid before requesting to link PAN-Aadhaar. When the PAN-Aadhaar linking is not done within 30th June 2023, the PAN card will become inoperative from 1st July 2023. Thus, ensure that your PAN card is linked with your Aadhaar card.

Check online status of PAN Aadhaar Linking

– Go to the Income Tax website https://www.incometax.gov.in/iec/foportal/

– Check Quick Links section and check Link Aadhaar status

– Select ‘View Link Aadhaar Status’ option

– Your PAN-Aadhaar link status will be displayed on the screen

Check status on SMS
– Go to your smartphone’s messaging apps

– Go to create message and type ‘UIDPAN <12 Digit Aadhaar Number><10 Digit PAN Number>

– Send this message to 56161 or 567678

The post PAN Aadhaar Linking: Follow the Deadline! Check online status of your PAN Aadhaar linking first appeared on Rightsofemployees.com.

If these details do not match, then the process of linking your PAN and Aadhaar card can be stopped even before completion. That’s why you have to pay attention that the details of your PAN and Aadhaar card should be same so that all your details match in both the documents. Otherwise your PAN will not be linked with Aadhaar card. The last date to link PAN and Aadhaar card is June 30, 2023.

The Income Tax Department informed the PAN card holder that due to some reasons the demographic details may be mismatched and the linkage of Aadhaar and PAN may be prevented from being successful. In case of any

demographic details mismatch, biometric-based authentication has been provided for ease of PAN-Aadhaar linking and can be availed at dedicated centers of PAN service providers (Protein and UTIITSL).

According to the official tweet of the IT department, while linking PAN with Aadhaar, there may be difference in name, date of birth, gender due to mismatch of demographic details. To facilitate easy linking of PAN and Aadhaar in case of any demographic detail mismatch, biometric-based authentication has been provided and can be availed at dedicated centers of PAN service providers (Proteon and UTIITSL).

PAN-Aadhaar linking may be banned for these reasons

1. While linking PAN with Aadhaar, there may be mistakes in name, date of birth, gender due to mismatch in demographic details.
2. First of all, update the PAN details by visiting the website https://www.onlineservices.nsdl.com/paam/endUserRegisterContact.html .
3. After this go to UTIITSL- https://www.pan.utiitsl.com/ .
4. After this go to https://ssup.uidai.gov.in/web/guests/update and update your Aadhaar card.
5. After this, try to link PAN Aadhaar again by visiting the website https://eportal.incometax.gov.in/iec/foservices/#/pre-login/bl-link-aadhaar .
6. If the linking application is still not successful. So you can use the option of biometric-based authentication by visiting the PAN service provider centers and paying a nominal charge of Rs 50.

According to the UIDAI website, in case of any minor mistakes in the Aadhaar name provided by the taxpayers as compared to the actual data in Aadhaar, One Time Password (Aadhaar OTP) will be sent to the mobile registered with Aadhaar. Taxpayers should ensure that the date of birth and gender in PAN and Aadhaar should be exactly the same.

How to change name, phone number and date of birth in PAN card

1. First of all you go to NSDL Online – https://www.onlineservices.nsdl.com/paam/endUserRegisterContact.html
2. Then select the ‘PAN Correction’ option from the ‘Application Type’ dropdown and fill in your details.
3. Then enter the captcha code and then click on submit.
4. You will get a message with a token number.
5. Click on Continue PAN Application Form. You will be redirected to the online PAN application page.
6. Check your details in the preview form, make any necessary changes and then proceed for payment.
7. After filling all the details and making the payment, a receipt slip will be generated. You need to print it and submit it to the NSDL e-Gov office along with the physical proof of documents.

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

If you do not want your PAN card to turn into junk and many of your financial tasks get entangled, then link your Aadhaar card with PAN card (PAN-Aadhaar Link) today itself. However, a deadline of June 30 has been fixed to complete this work. If you fail to do this work till this prescribed last date, then your PAN card will be of no use i.e. it will be closed. On the other hand, if you use a closed PAN card for some work, then you can be fined.

The last date for Aadhaar-PAN linking has been extended several times in the last five years, but this time there is little possibility of it happening, which means it is better to settle the work immediately. Let us know how many times the deadline (PAN-Aadhaar Linking Deadline) has been extended for this work.

If you look at the guidelines issued in this regard, the last date has increased in five years, then those people whose PAN card has been issued before July 1, 2017, it is necessary to link their PAN-Aadhaar. Every year the Central Board of Direct Taxes (CBDT) issues a circular in this regard and instructs to link PAN card with Aadhaar card by the due date. However, giving convenience, its last date has also been extended continuously.

If you look at the last five years, in 2017, a circular was first issued for this by fixing the last date of 31 July, but then it was first extended till 31 August and later till 31 December 2017. Due to the low number of users doing this work, it was extended till the next year and then the last date was fixed on March 31, 2018, but this year also the situation remained the same and in 2018 its deadline increased throughout the year. . After March 31, June 30, then giving long time to the people, it was extended till March 31, 2019.

Due to Corona, the process of increasing the deadline for Permanent Account Number (PAN) and Aadhaar (Aadhaar) linking did not stop here, the fixed date of March 31 was extended this year also to December 31, 2019 and later for this work Time was given till March 31, 2020. This was the eighth consecutive time, when the last date for linking Aadhaar and PAN was extended. The government felt that now a lot of awareness has been created among the people about this work, but it did not happen.

Meanwhile, the Corona epidemic knocked in the country and the deadline set for this work started again. Due to the lockdown in the country, it was first extended till June 30, 2020, and then during the entire Corona period, time kept on getting to do this work. In view of the epidemic after June 30, 2020, time was given till March 31, 2021 for this work. So far, the deadline has been extended about 15 times in the last 5 years.

Now 23 days are left, the linking date was extended from March 31 to September 30, 2021 and then to March 31, 2022, giving convenience to Aadhaar-PAN users during the pandemic. Meanwhile, penalty was also implemented for those who did not do this work. From 1 April 2022, a fee of Rs 500 started being imposed and from 1 July 2022, it was increased to Rs 1,000. Before March 31, the linking process was completely free. After extending the deadline for Aadhaar-PAN linking several times one after the other, it was decided to extend it again till June 30, 2022.

In the new year also, the process of extending the last date for this work is going on and the deadline was extended from March 31 to June 30, 2023 by issuing a release from the Central Board of Direct Taxes (CBDT) last month. That means you have 23 days left to link your PAN card with Aadhaar.

Penalty up to Rs 10,000 may be imposed.

In today’s time, PAN card has become the most important document for every financial work. Under Section 1961 of Income Tax, it has been made mandatory for PAN card holders to link it with their Aadhaar card. There is also a provision of fine on those who are not able to do this work. A fine of up to Rs 10,000 can be imposed if a PAN card is used as a document after it has been deactivated. This penalty can be imposed under section 272B of the Income Tax Act. In the event of PAN card becoming junk, you will not be able to do things like opening mutual funds, stocks and bank accounts.

Work can be done in minutes sitting at home

• 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.

Pay the fine like this You

will have to pay fine to link PAN card with Aadhaar. For this you have to go to this portal https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp Protean. Here after clicking on CHALLAN NO/ITNS 280 for PAN-Aadhaar linking request, select Tax Applicable. Fee payment has to be done in single challan under minor head and major head. Then choose the mode of payment from netbanking or debit card and enter your PAN number. Select the assessment year and also provide the address. Fill the captcha in the last and click on Proceed.

The post PAN-Aadhaar Link: Deadline Extended 15 Times In 5 Years! first appeared on Rightsofemployees.com.

If you follow the government rules, you can link your PAN card with Aadhaar before June 30. Even after this, if the linking is not done, your PAN card will not be considered active. However, to link Aadhaar with PAN, you will still have to pay Rs 1,000 as fee.

If the link is not done, then there will be a problem.

If the PAN card is not linked, then firstly your PAN will be declared inactive, secondly you will not be able to file ITR through inactive PAN, your paid returns will not be processed. Pending refunds will also not be issued. Pending processing cannot be completed once the PAN becomes inactive. And your tax deduction will also be at a higher rate.

Link like this

To link Aadhaar with PAN, first of all you have to go to https://incometaxindiaefiling.gov.in/ and open the e-filing portal of income tax, then you have to register. Your PAN number (Permanent Account Number) will be your user ID. Now login by entering your user ID, password and date of birth.

Then a pop up window will appear, on which you will be asked to link PAN with Aadhaar. If it does not come, then go to ‘Profile Settings’ and click on ‘Link Aadhaar’. Now the date of birth and gender details entered on the PAN will already be visible here. Now match these details with your Aadhaar details.

Mix it. If these details do not match in both the documents, then you will have to correct the one which is wrong. If the details are matching, then enter your Aadhaar number and click on the “link now” button. A pop-up message will appear, You will come to know that your PAN has been linked with Aadhaar card.

The post PAN-Aadhaar Linking: Link Aadhaar with PAN sitting at home, otherwise there will be big trouble first appeared on Rightsofemployees.com.

Today, whether it is government work or private work, Aadhaar card is required in all. Whereas PAN card is required for financial transactions. Not only this, Income Tax Return cannot be filed without PAN card. At the same time, the government is being asked to link these two with each other.

According to the government, it is very important to link PAN with Aadhaar. If PAN and Aadhaar have not yet been linked (Pan-Aadhaar Link), then the PAN card will be of no use. For this, earlier the last date was kept as 31 March 2023 and it was said that if the link is not done then the PAN card will become inoperative from 1 April 2023. But now it was informed that the last date for linking PAN and Aadhaar has been extended to June 30.

According to the new rule of the government, a fine will have to be paid for linking PAN card with Aadhaar card. Now the amount of fine is Rs.1000. According to the government, now if you want to link PAN card with Aadhaar, then you will have to pay 1000 rupees, only then you will be able to link both.

Link to SMS service like this

You can also link your Aadhaar card and PAN card using SMS service. For this you have to send a message to 567678 or 56161. After this UIDPAN<space><12 digit Aadhaar card><space><10 digit PAN> then send it to 567678 or 56161. By the way, you need to pay attention to one thing. If the name and date of birth of the taxpayer appear the same in both Aadhaar and PAN, then it will be linked.

Link can be done online like this

For this, first of all go to the official website of Income Tax. After this, click on the Service option here, there you will see the option of Link Aadhaar. After this you go to Know About Aadhaar Pan Linking Status option. Now a new page will open in front of you, here enter the details of your PAN and Aadhaar Card. After this click on ‘View Link Aadhaar Status’. Now click on the link Aadhaar button and thus the PAN will be linked with Aadhaar. After this you will see a message saying that you have successfully linked your Aadhaar card with your PAN card.

The post PAN-Aadhaar Linking: You can link PAN-Aadhaar by just sending an SMS, here’s the way first appeared on Rightsofemployees.com.

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.

Pan-Aadhaar linking: The last date for linking PAN with Aadhaar number is 31 March 2023. But do you know whether your PAN is linked with Aadhaar or not. If you have not yet linked your PAN with Aadhaar, do so before the deadline ends. If you are not able to do this then your PAN will become invalid.

The Income Tax Department has made it mandatory to link PAN with Aadhaar. In today’s time, PAN card is needed everywhere from bank to government subsidy.

It is mandatory to link pan card with aadhaar

According to the advisory of the Government and the Income Tax Department, it is mandatory to link PAN with Aadhaar. Those who do not come under the exemption category under the Income Tax Act, then you will have to link your PAN with Aadhaar. Link your Permanent Account Number with Aadhaar before March 31, 2023. Otherwise unlinked PAN will not work from 1st April 2023. You will not be able to do any work like depositing more amount in the bank, withdrawing, buying LIC etc. You need a PAN card in all these works.

Know through SMS whether your Aadhaar is linked with PAN or not

Step 1: Write an SMS – Type UIDPAN followed by a space.

Step 2: After that write the base number 12.

Step 3: After that enter 10 digit PAN.

SMS will look like this-

UIDPAN <12 digit Aadhaar Number> <10 digit Permanent Account Number>

Step 4: Then send it to 567678 or 56161.

Step 5: Wait for some time. If your Aadhaar is linked with PAN, then you will get a message that your PAN is linked with Aadhaar. Wait for a response from the service.

Aadhaar can be linked with PAN through SMS

1. First type UIDPAN (space) 12 digit Aadhaar number (space) PAN number from your mobile

2. Send SMS to 567678 or 56161 from your registered mobile number.

3. You will get a confirmation message for linking Aadhaar with PAN.

The post Pan-Aadhaar Link: Is your PAN linked to Aadhaar, just send it to this number to know first appeared on Rightsofemployees.com.

After the start of the second quarter of the financial year 2022-23, three major changes in the income tax rules proposed in the Union Budget 2022 have come into effect from today. In which a rule has also been included for doubling the late fee on PAN-Aadhaar linking. From today, the late fee for PAN-Aadhaar seeding has been increased from Rs 500 to Rs 1,000.

In addition, one percent tax deduction at source (TDS) on all cryptocurrency transactions from Q2FY23 will be applicable from today. Meanwhile, from today 10 per cent TDS on monetary benefits received through sales promotion on social media influencers and doctors has also come into effect.

3 important changes in income tax rules will be implemented from today.

Double fee for PAN-Aadhaar linking

The last date for Aadhaar-PAN linking has ended on 30 June 20222. As per CBDT guidelines, if a person links his PAN with Aadhaar after 31 March 2022 to 30 June 2022, he will have to pay a late fee of ₹ 500. However, if a person fails to link PAN with Aadhaar by June 30, 2022, he will have to pay double the penalty of ₹ 1,000 for PAN-Aadhaar seeding from July 1, 2022. Now that we have reached the second quarter of FY 22-23, therefore, an individual has to pay Rs 1,000 for PAN-Aadhaar seeding.

TDS on cryptocurrency

After levying 30 per cent flat income tax on cryptocurrencies with effect from 1st April 2022, the Government of India in the Union Budget 2022 had proposed an additional TDS of 1 per cent on cryptocurrency transactions, irrespective of profit or loss to the investor. The budget proposal has become effective from today. However, an investor will be able to claim refund of TDS levied on loss transactions. Hence, cryptocurrency investors are advised to file ITR.

Changes in income tax rules for doctors

In the Union Budget 2022, the Government of India has added a new section 194R to the Income Tax Act 1961. This new section proposes 10 per cent TDS on doctors and social media influencers on profits received through sales promotion. This budget proposal has come into force from 1st July 2022 i.e. today. However, TDS will be applicable only if the cost of profit is ₹20,000 or more in a financial year.

Know what is section 194R

Tax to be deducted before grant of profit or perquisite to any person. There may be several stages in the grant of benefits/perks to the resident recipient. There cannot be a single rule to determine the stage at which tax will be deducted. It has to be understood with reference to the special benefit or perquisites to be provided to the recipient. Before reaching the point of ‘providing’ the benefit or perquisite, it has to be ensured that the tax has been deducted.

How does section 194 work?

If a private doctor is receiving samples from a pharmaceutical company and the cost of all such samples exceeds Rs 20,000 in a financial year, it will attract 10 per cent TDS. However, if the doctor is working in a private hospital, in that case 10 percent TDS will be levied on the hospital. It is important to know that section 194R does not apply to government entities. Therefore, if a doctor working in a government hospital is receiving free medical samples, he is not required to pay 10 per cent TDS.

The post Income Tax Rules Change: Many rules of income tax changed from today, you need to know; Otherwise… first appeared on Rightsofemployees.com.

After the start of the second quarter of the financial year 2022-23, three major changes in the income tax rules proposed in the Union Budget 2022 have come into effect from today. In which a rule has also been included for doubling the late fee on PAN-Aadhaar linking. From today, the late fee for PAN-Aadhaar seeding has been increased from Rs 500 to Rs 1,000.

In addition, one percent tax deduction at source (TDS) on all cryptocurrency transactions from Q2FY23 will be applicable from today. Meanwhile, from today 10 per cent TDS on monetary benefits received through sales promotion on social media influencers and doctors has also come into effect.

3 important changes in income tax rules will be implemented from today.

Double fee for PAN-Aadhaar linking

The last date for Aadhaar-PAN linking has ended on 30 June 20222. As per CBDT guidelines, if a person links his PAN with Aadhaar after 31 March 2022 to 30 June 2022, he will have to pay a late fee of ₹ 500. However, if a person fails to link PAN with Aadhaar by June 30, 2022, he will have to pay double the penalty of ₹ 1,000 for PAN-Aadhaar seeding from July 1, 2022. Now that we have reached the second quarter of FY 22-23, therefore, an individual has to pay Rs 1,000 for PAN-Aadhaar seeding.

TDS on cryptocurrency

After levying 30 per cent flat income tax on cryptocurrencies with effect from 1st April 2022, the Government of India in the Union Budget 2022 had proposed an additional TDS of 1 per cent on cryptocurrency transactions, irrespective of profit or loss to the investor. The budget proposal has become effective from today. However, an investor will be able to claim refund of TDS levied on loss transactions. Hence, cryptocurrency investors are advised to file ITR.

Changes in income tax rules for doctors

In the Union Budget 2022, the Government of India has added a new section 194R to the Income Tax Act 1961. This new section proposes 10 per cent TDS on doctors and social media influencers on profits received through sales promotion. This budget proposal has come into force from 1st July 2022 i.e. today. However, TDS will be applicable only if the cost of profit is ₹20,000 or more in a financial year.

Know what is section 194R

Tax to be deducted before grant of profit or perquisite to any person. There may be several stages in the grant of benefits/perks to the resident recipient. There cannot be a single rule to determine the stage at which tax will be deducted. It has to be understood with reference to the special benefit or perquisites to be provided to the recipient. Before reaching the point of ‘providing’ the benefit or perquisite, it has to be ensured that the tax has been deducted.

How does section 194 work?

If a private doctor is receiving samples from a pharmaceutical company and the cost of all such samples exceeds Rs 20,000 in a financial year, it will attract 10 per cent TDS. However, if the doctor is working in a private hospital, in that case 10 percent TDS will be levied on the hospital. It is important to know that section 194R does not apply to government entities. Therefore, if a doctor working in a government hospital is receiving free medical samples, he is not required to pay 10 per cent TDS.

The post Income Tax Big Rules Change: Many rules of income tax changed from today, you need to know; Otherwise… first appeared on Rightsofemployees.com.

After the start of the second quarter of the financial year 2022-23, three major changes in the income tax rules proposed in the Union Budget 2022 have come into effect from today. In which a rule has also been included for doubling the late fee on PAN-Aadhaar linking. From today, the late fee for PAN-Aadhaar seeding has been increased from Rs 500 to Rs 1,000.

In addition, one percent tax deduction at source (TDS) on all cryptocurrency transactions from Q2FY23 will be applicable from today. Meanwhile, from today 10 per cent TDS on monetary benefits received through sales promotion on social media influencers and doctors has also come into effect.

3 important changes in income tax rules will be implemented from today.

Double fee for PAN-Aadhaar linking

The last date for Aadhaar-PAN linking has ended on 30 June 20222. As per CBDT guidelines, if a person links his PAN with Aadhaar after 31 March 2022 to 30 June 2022, he will have to pay a late fee of ₹ 500. However, if a person fails to link PAN with Aadhaar by June 30, 2022, he will have to pay double the penalty of ₹ 1,000 for PAN-Aadhaar seeding from July 1, 2022. Now that we have reached the second quarter of FY 22-23, therefore, an individual has to pay Rs 1,000 for PAN-Aadhaar seeding.

TDS on cryptocurrency

After levying 30 per cent flat income tax on cryptocurrencies with effect from 1st April 2022, the Government of India in the Union Budget 2022 had proposed an additional TDS of 1 per cent on cryptocurrency transactions, irrespective of profit or loss to the investor. The budget proposal has become effective from today. However, an investor will be able to claim refund of TDS levied on loss transactions. Hence, cryptocurrency investors are advised to file ITR.

Changes in income tax rules for doctors

In the Union Budget 2022, the Government of India has added a new section 194R to the Income Tax Act 1961. This new section proposes 10 per cent TDS on doctors and social media influencers on profits received through sales promotion. This budget proposal has come into force from 1st July 2022 i.e. today. However, TDS will be applicable only if the cost of profit is ₹20,000 or more in a financial year.

Know what is section 194R

Tax to be deducted before grant of profit or perquisite to any person. There may be several stages in the grant of benefits/perks to the resident recipient. There cannot be a single rule to determine the stage at which tax will be deducted. It has to be understood with reference to the special benefit or perquisites to be provided to the recipient. Before reaching the point of ‘providing’ the benefit or perquisite, it has to be ensured that the tax has been deducted.

How does section 194 work?

If a private doctor is receiving samples from a pharmaceutical company and the cost of all such samples exceeds Rs 20,000 in a financial year, it will attract 10 per cent TDS. However, if the doctor is working in a private hospital, in that case 10 percent TDS will be levied on the hospital. It is important to know that section 194R does not apply to government entities. Therefore, if a doctor working in a government hospital is receiving free medical samples, he is not required to pay 10 per cent TDS.

The post Income Tax Rules Change: Big News! Many rules of income tax changed from today, you need to know; Otherwise… first appeared on Rightsofemployees.com.

After the start of the second quarter of the financial year 2022-23, three major changes in the income tax rules proposed in the Union Budget 2022 have come into effect from today. In which a rule has also been included for doubling the late fee on PAN-Aadhaar linking. From today, the late fee for PAN-Aadhaar seeding has been increased from Rs 500 to Rs 1,000.

In addition, one percent tax deduction at source (TDS) on all cryptocurrency transactions from Q2FY23 will be applicable from today. Meanwhile, from today 10 per cent TDS on monetary benefits received through sales promotion on social media influencers and doctors has also come into effect.

3 important changes in income tax rules will be implemented from today.

Double fee for PAN-Aadhaar linking

The last date for Aadhaar-PAN linking has ended on 30 June 20222. As per CBDT guidelines, if a person links his PAN with Aadhaar after 31 March 2022 to 30 June 2022, he will have to pay a late fee of ₹ 500. However, if a person fails to link PAN with Aadhaar by June 30, 2022, he will have to pay double the penalty of ₹ 1,000 for PAN-Aadhaar seeding from July 1, 2022. Now that we have reached the second quarter of FY 22-23, therefore, an individual has to pay Rs 1,000 for PAN-Aadhaar seeding.

TDS on cryptocurrency

After levying 30 per cent flat income tax on cryptocurrencies with effect from 1st April 2022, the Government of India in the Union Budget 2022 had proposed an additional TDS of 1 per cent on cryptocurrency transactions, irrespective of profit or loss to the investor. The budget proposal has become effective from today. However, an investor will be able to claim refund of TDS levied on loss transactions. Hence, cryptocurrency investors are advised to file ITR.

Changes in income tax rules for doctors

In the Union Budget 2022, the Government of India has added a new section 194R to the Income Tax Act 1961. This new section proposes 10 per cent TDS on doctors and social media influencers on profits received through sales promotion. This budget proposal has come into force from 1st July 2022 i.e. today. However, TDS will be applicable only if the cost of profit is ₹20,000 or more in a financial year.

Know what is section 194R

Tax to be deducted before grant of profit or perquisite to any person. There may be several stages in the grant of benefits/perks to the resident recipient. There cannot be a single rule to determine the stage at which tax will be deducted. It has to be understood with reference to the special benefit or perquisites to be provided to the recipient. Before reaching the point of ‘providing’ the benefit or perquisite, it has to be ensured that the tax has been deducted.

How does section 194 work?

If a private doctor is receiving samples from a pharmaceutical company and the cost of all such samples exceeds Rs 20,000 in a financial year, it will attract 10 per cent TDS. However, if the doctor is working in a private hospital, in that case 10 percent TDS will be levied on the hospital. It is important to know that section 194R does not apply to government entities. Therefore, if a doctor working in a government hospital is receiving free medical samples, he is not required to pay 10 per cent TDS.

The post Income Tax issue new Rules: Big news! Many rules of income tax changed from today, you need to know; Otherwise… first appeared on Rightsofemployees.com.

After the start of the second quarter of the financial year 2022-23, three major changes in the income tax rules proposed in the Union Budget 2022 have come into effect from today. In which a rule has also been included for doubling the late fee on PAN-Aadhaar linking. From today, the late fee for PAN-Aadhaar seeding has been increased from Rs 500 to Rs 1,000.

In addition, one percent tax deduction at source (TDS) on all cryptocurrency transactions from Q2FY23 will be applicable from today. Meanwhile, from today 10 per cent TDS on monetary benefits received through sales promotion on social media influencers and doctors has also come into effect.

3 important changes in income tax rules will be implemented from today.

Double fee for PAN-Aadhaar linking

The last date for Aadhaar-PAN linking has ended on 30 June 20222. As per CBDT guidelines, if a person links his PAN with Aadhaar after 31 March 2022 to 30 June 2022, he will have to pay a late fee of ₹ 500. However, if a person fails to link PAN with Aadhaar by June 30, 2022, he will have to pay double the penalty of ₹ 1,000 for PAN-Aadhaar seeding from July 1, 2022. Now that we have reached the second quarter of FY 22-23, therefore, an individual has to pay Rs 1,000 for PAN-Aadhaar seeding.

TDS on cryptocurrency

After levying 30 per cent flat income tax on cryptocurrencies with effect from 1st April 2022, the Government of India in the Union Budget 2022 had proposed an additional TDS of 1 per cent on cryptocurrency transactions, irrespective of profit or loss to the investor. The budget proposal has become effective from today. However, an investor will be able to claim refund of TDS levied on loss transactions. Hence, cryptocurrency investors are advised to file ITR.

Changes in income tax rules for doctors

In the Union Budget 2022, the Government of India has added a new section 194R to the Income Tax Act 1961. This new section proposes 10 per cent TDS on doctors and social media influencers on profits received through sales promotion. This budget proposal has come into force from 1st July 2022 i.e. today. However, TDS will be applicable only if the cost of profit is ₹20,000 or more in a financial year.

Know what is section 194R

Tax to be deducted before grant of profit or perquisite to any person. There may be several stages in the grant of benefits/perks to the resident recipient. There cannot be a single rule to determine the stage at which tax will be deducted. It has to be understood with reference to the special benefit or perquisites to be provided to the recipient. Before reaching the point of ‘providing’ the benefit or perquisite, it has to be ensured that the tax has been deducted.

How does section 194 work?

If a private doctor is receiving samples from a pharmaceutical company and the cost of all such samples exceeds Rs 20,000 in a financial year, it will attract 10 per cent TDS. However, if the doctor is working in a private hospital, in that case 10 percent TDS will be levied on the hospital. It is important to know that section 194R does not apply to government entities. Therefore, if a doctor working in a government hospital is receiving free medical samples, he is not required to pay 10 per cent TDS.

The post Income Tax Big Rules Change: Big News! Many rules of income tax changed from today, you need to know; Otherwise… first appeared on Rightsofemployees.com.

After the start of the second quarter of the financial year 2022-23, three major changes in the income tax rules proposed in the Union Budget 2022 have come into effect from today. In which a rule has also been included for doubling the late fee on PAN-Aadhaar linking. From today, the late fee for PAN-Aadhaar seeding has been increased from Rs 500 to Rs 1,000.

In addition, one percent tax deduction at source (TDS) on all cryptocurrency transactions from Q2FY23 will be applicable from today. Meanwhile, from today 10 per cent TDS on monetary benefits received through sales promotion on social media influencers and doctors has also come into effect.

3 important changes in income tax rules will be implemented from today.

Double fee for PAN-Aadhaar linking

The last date for Aadhaar-PAN linking has ended on 30 June 20222. As per CBDT guidelines, if a person links his PAN with Aadhaar after 31 March 2022 to 30 June 2022, he will have to pay a late fee of ₹ 500. However, if a person fails to link PAN with Aadhaar by June 30, 2022, he will have to pay double the penalty of ₹ 1,000 for PAN-Aadhaar seeding from July 1, 2022. Now that we have reached the second quarter of FY 22-23, therefore, an individual has to pay Rs 1,000 for PAN-Aadhaar seeding.

TDS on cryptocurrency

After levying 30 per cent flat income tax on cryptocurrencies with effect from 1st April 2022, the Government of India in the Union Budget 2022 had proposed an additional TDS of 1 per cent on cryptocurrency transactions, irrespective of profit or loss to the investor. The budget proposal has become effective from today. However, an investor will be able to claim refund of TDS levied on loss transactions. Hence, cryptocurrency investors are advised to file ITR.

Changes in income tax rules for doctors

In the Union Budget 2022, the Government of India has added a new section 194R to the Income Tax Act 1961. This new section proposes 10 per cent TDS on doctors and social media influencers on profits received through sales promotion. This budget proposal has come into force from 1st July 2022 i.e. today. However, TDS will be applicable only if the cost of profit is ₹20,000 or more in a financial year.

Know what is section 194R

Tax to be deducted before grant of profit or perquisite to any person. There may be several stages in the grant of benefits/perks to the resident recipient. There cannot be a single rule to determine the stage at which tax will be deducted. It has to be understood with reference to the special benefit or perquisites to be provided to the recipient. Before reaching the point of ‘providing’ the benefit or perquisite, it has to be ensured that the tax has been deducted.

How does section 194 work?

If a private doctor is receiving samples from a pharmaceutical company and the cost of all such samples exceeds Rs 20,000 in a financial year, it will attract 10 per cent TDS. However, if the doctor is working in a private hospital, in that case 10 percent TDS will be levied on the hospital. It is important to know that section 194R does not apply to government entities. Therefore, if a doctor working in a government hospital is receiving free medical samples, he is not required to pay 10 per cent TDS.

The post Income Tax Big Rules Change: Many rules of income tax changed from today, you need to know; Otherwise… first appeared on Rightsofemployees.com.

After the start of the second quarter of the financial year 2022-23, three major changes in the income tax rules proposed in the Union Budget 2022 have come into effect from today. In which a rule has also been included for doubling the late fee on PAN-Aadhaar linking. From today, the late fee for PAN-Aadhaar seeding has been increased from Rs 500 to Rs 1,000.

In addition, one percent tax deduction at source (TDS) on all cryptocurrency transactions from Q2FY23 will be applicable from today. Meanwhile, from today 10 per cent TDS on monetary benefits received through sales promotion on social media influencers and doctors has also come into effect.

3 important changes in income tax rules will be implemented from today.

Double fee for PAN-Aadhaar linking

The last date for Aadhaar-PAN linking has ended on 30 June 20222. As per CBDT guidelines, if a person links his PAN with Aadhaar after 31 March 2022 to 30 June 2022, he will have to pay a late fee of ₹ 500. However, if a person fails to link PAN with Aadhaar by June 30, 2022, he will have to pay double the penalty of ₹ 1,000 for PAN-Aadhaar seeding from July 1, 2022. Now that we have reached the second quarter of FY 22-23, therefore, an individual has to pay Rs 1,000 for PAN-Aadhaar seeding.

TDS on cryptocurrency

After levying 30 per cent flat income tax on cryptocurrencies with effect from 1st April 2022, the Government of India in the Union Budget 2022 had proposed an additional TDS of 1 per cent on cryptocurrency transactions, irrespective of profit or loss to the investor. The budget proposal has become effective from today. However, an investor will be able to claim refund of TDS levied on loss transactions. Hence, cryptocurrency investors are advised to file ITR.

Changes in income tax rules for doctors

In the Union Budget 2022, the Government of India has added a new section 194R to the Income Tax Act 1961. This new section proposes 10 per cent TDS on doctors and social media influencers on profits received through sales promotion. This budget proposal has come into force from 1st July 2022 i.e. today. However, TDS will be applicable only if the cost of profit is ₹20,000 or more in a financial year.

Know what is section 194R

Tax to be deducted before grant of profit or perquisite to any person. There may be several stages in the grant of benefits/perks to the resident recipient. There cannot be a single rule to determine the stage at which tax will be deducted. It has to be understood with reference to the special benefit or perquisites to be provided to the recipient. Before reaching the point of ‘providing’ the benefit or perquisite, it has to be ensured that the tax has been deducted.

How does section 194 work?

If a private doctor is receiving samples from a pharmaceutical company and the cost of all such samples exceeds Rs 20,000 in a financial year, it will attract 10 per cent TDS. However, if the doctor is working in a private hospital, in that case 10 percent TDS will be levied on the hospital. It is important to know that section 194R does not apply to government entities. Therefore, if a doctor working in a government hospital is receiving free medical samples, he is not required to pay 10 per cent TDS.

The post Income Tax Rules Change: Many rules of income tax changed from today, you need to know; Otherwise… first appeared on Rightsofemployees.com.

After the start of the second quarter of the financial year 2022-23, three major changes in the income tax rules proposed in the Union Budget 2022 have come into effect from today. In which a rule has also been included for doubling the late fee on PAN-Aadhaar linking. From today, the late fee for PAN-Aadhaar seeding has been increased from Rs 500 to Rs 1,000.

In addition, one percent tax deduction at source (TDS) on all cryptocurrency transactions from Q2FY23 will be applicable from today. Meanwhile, from today 10 per cent TDS on monetary benefits received through sales promotion on social media influencers and doctors has also come into effect.

3 important changes in income tax rules will be implemented from today.

Double fee for PAN-Aadhaar linking

The last date for Aadhaar-PAN linking has ended on 30 June 20222. As per CBDT guidelines, if a person links his PAN with Aadhaar after 31 March 2022 to 30 June 2022, he will have to pay a late fee of ₹ 500. However, if a person fails to link PAN with Aadhaar by June 30, 2022, he will have to pay double the penalty of ₹ 1,000 for PAN-Aadhaar seeding from July 1, 2022. Now that we have reached the second quarter of FY 22-23, therefore, an individual has to pay Rs 1,000 for PAN-Aadhaar seeding.

TDS on cryptocurrency

After levying 30 per cent flat income tax on cryptocurrencies with effect from 1st April 2022, the Government of India in the Union Budget 2022 had proposed an additional TDS of 1 per cent on cryptocurrency transactions, irrespective of profit or loss to the investor. The budget proposal has become effective from today. However, an investor will be able to claim refund of TDS levied on loss transactions. Hence, cryptocurrency investors are advised to file ITR.

Changes in income tax rules for doctors

In the Union Budget 2022, the Government of India has added a new section 194R to the Income Tax Act 1961. This new section proposes 10 per cent TDS on doctors and social media influencers on profits received through sales promotion. This budget proposal has come into force from 1st July 2022 i.e. today. However, TDS will be applicable only if the cost of profit is ₹20,000 or more in a financial year.

Know what is section 194R

Tax to be deducted before grant of profit or perquisite to any person. There may be several stages in the grant of benefits/perks to the resident recipient. There cannot be a single rule to determine the stage at which tax will be deducted. It has to be understood with reference to the special benefit or perquisites to be provided to the recipient. Before reaching the point of ‘providing’ the benefit or perquisite, it has to be ensured that the tax has been deducted.

How does section 194 work?

If a private doctor is receiving samples from a pharmaceutical company and the cost of all such samples exceeds Rs 20,000 in a financial year, it will attract 10 per cent TDS. However, if the doctor is working in a private hospital, in that case 10 percent TDS will be levied on the hospital. It is important to know that section 194R does not apply to government entities. Therefore, if a doctor working in a government hospital is receiving free medical samples, he is not required to pay 10 per cent TDS.

The post Income Tax Rules Change: Many rules of income tax changed from today, you need to know; Otherwise… first appeared on Rightsofemployees.com.