The Economic Times daily newspaper is available online now.

    Higher PAN Aadhaar linking penalty from July 1: How to pay penalty amount

    Synopsis

    The CBDT states that you would be taxed Rs 500 if you link your PAN with your Aadhaar on or before June 30, 2022. If the linking of the PAN and Aadhaar is completed on or after July 1, 2022, a fine of Rs 1,000 would be imposed.

    desskGetty Images
    Linking of PAN Aadhaar after March 31, 2022 (i.e., from April 1, 2022) will cost you money. The Central Board of Direct Taxes (CBDT) made this announcement via in a notification dated March 29, 2022.

    According to the CBDT, if you link your PAN with your Aadhaar on or before June 30, 2022, you will be charged Rs.500. A penalty of Rs.1,000 will be levied if the PAN-Aadhaar linking is done on or after July 1, 2022.

    According to the CBDT circular dated March 30, 2022, “Further, rule 114AAA of the Income-tax Rules provides that if PAN of a person has become inoperative, he will not be able to furnish, intimate or quote his PAN and shall be liable to all the consequences under the Act for such failure.”

    According to the circular, this will have a number of implications such as:-
    (i) The person shall not be able to file a return using the inoperative PAN
    (ii) Pending returns will not be processed
    (iii) Pending refunds cannot be issued to inoperative PANs
    (iv) Pending proceedings as in the case of defective returns cannot be completed once the PAN is inoperative
    (v) Tax will be required to be deducted at a higher rate as PAN becomes inoperative.

    How to pay penalty amount while linking PAN Aadhaar?

    Step 1: Visit https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp Protean (NSDL) portal to proceed with submission of the Aadhaar-PAN linking request.
    Step 2: Click on Proceed under CHALLAN NO./ITNS 280 for submission of Aadhaar-PAN linking request
    Step 3: Select tax applicable
    Step 4: Please make sure fee payment is done under Minor head 500 (Fee) and Major head 0021 [Income Tax (Other than Companies)] in single challan.
    Step 5: Select mode of Payment from Net banking or Debit card
    Step 6: Enter PAN, select Assessment year and enter the address
    Step 7: Enter the captcha code and click proceed tab
    As payments made at NSDL (now Protean) take a few days to appear on the e-Filing portal, taxpayers are advised to attempt raising a PAN-Aadhaar linkage request after 4-5 days.
    ( Originally published on Jun 29, 2022 )

    (Your legal guide on estate planning, inheritance, will and more.)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    ...more

    (Your legal guide on estate planning, inheritance, will and more.)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    ...more
    The Economic Times

    Stories you might be interested in