The last date to link Aadhaar with PAN is June 30, 2023. If you are among those who have not linked PAN with Aadhaar, then you must get PAN card linked with Aadhaar card before the deadline to avoid consequences. According to the Income Tax Department, the date for linking PAN and Aadhaar card has been extended to June 30, 2023. The last date for linking has been extended several times. Registered and unregistered users can link their Aadhaar and PAN on the e-filing portal ( www.incometax.gov.in ) in pre-login and post login mode.”

How much will be charged for Aadhaar-PAN link

If you have not linked Aadhaar-PAN by the deadline then you will have to pay the penalty. Before submitting the Aadhaar-PAN linking application on the e-filing portal, a necessary fee of Rs.1000 has to be paid. It will be paid in a single challan.

How to link PAN-Aadhaar after

paying penalty According to the Income Tax website, how to link PAN-Aadhaar by paying penalty –

• Step 1: You must first login to the official portal of Income Tax Department https://www.incometax.gov.in/iec/foportal/ . Click on the option to link PAN with Aadhaar on the dashboard.
• Step 2: Enter your PAN and Aadhaar number.
• Step 3: Click on continue to pay through e-pay tax.
• Step 4: Enter your PAN, confirm PAN and mobile number to receive OTP.
• Step 5: After OTP verification, you will be redirected to e-pay tax page.
• Step 6: Click on the option of Income Tax.
• Step 7: Select Age as 2024-25 and Payment Type as Other Receipts (500) and click on Continue.
• After payment of fee, you can link your Aadhaar number with PAN on the e-filing portal.

Question: What will be the consequences if I do not link Aadhaar with PAN by 30th June 2023?

If you do not link your Aadhaar with PAN by 30 June 2023, your PAN will become inactive. If the PAN becomes inoperative, you will be unable to do other important financial work related to the Income Tax Department. You may have to face inattention wherever PAN card is required.

The post How to pay penalty for linking PAN with Aadhaar, Here’s a Quick Step-by-Step Guide first appeared on Rightsofemployees.com.

You will not need to maintain minimum balance after the new rule is made. Different amount of minimum balance is fixed according to different bank and account. The account holder has to pay penalty for not maintaining the minimum balance.

Big statement on minimum balance

Minister of State for Finance Bhagwant Kishanrao Karad had given a big statement in the last days regarding maintaining minimum balance in the account. He appealed to the board of directors of the banks and said that they can take a decision to abolish the penalty on the accounts of those who do not keep the minimum balance. Karad had said that banks are independent bodies. In such a situation, the Board of Directors can waive the penalty for not keeping the minimum amount.

At that time, the media had questioned the Minister of State for Finance regarding maintaining the minimum amount. He was also asked whether the government is considering giving instructions to the banks that no penalty should be imposed on the accounts in which deposits go below the prescribed minimum level.

The post Big news for PNB-ICICI-HDFC bank customers! Government’s big statement on minimum balance in bank account first appeared on Rightsofemployees.com.