Aadhaar-PAN Link: The Central Board of Direct Taxes (CBDT) has issued a notification stating that it has become mandatory to link Aadhaar and PAN card from April 1 and after March 31, a penalty will be paid for linking PAN with Aadhaar.
The last date for linking Aadhar and PAN card (Aadhaar-PAN link) has been made mandatory from March 31 and April 1. If you have not linked your Aadhaar and PAN card yet, then do it before March 31, otherwise you may have to pay a fine after that. In this regard, the Central Board of Direct Taxes (CBDT) has issued a notification regarding this.
You can link even after March 31 by paying a fine
The last date for linking PAN card with Aadhaar is March 31, but even after this, you can link Aadhaar and PAN card by paying a fine. The CBDT issued a notification saying that even after March 31, Aadhaar and PAN can be linked, but after that penalty will have to be paid.
How much will be the fine after 31st March (Aadhaar-PAN Link after 31st March)
According to the notification, if you link Aadhaar and PAN card within 3 months after March 31, then a fine of Rs 500 will have to be paid. On the other hand, if the Aadhaar and PAN card are not linked for 3 months i.e. till June, then 1000 rupees will have to be paid as a fine.
Link PAN and Aadhaar online like this (Aadhaar-PAN Link Process)
1. Visit the Income Tax e-filing website to link PAN-Aadhaar.
2. On the left side of the site, you will get the option of Quick Links. Here you have to click on the ‘Link Aadhaar’ option.
3. Here you have to enter your PAN, Aadhar number and name.
4. After giving the information, an OTP will be sent to you. After entering the OTP, your Aadhaar and PAN will be linked (Aadhaar-PAN Link).
Brokers’ organization sought extension
The Association of Brokers has sought a time to link PAN card with Aadhaar, but it has been rejected. Brokers’ body told SEBI that linking PAN with Aadhaar is an on-going process, for which a further extension of 6 months should be given. ANMI said that all those accounts which are not able to link PAN-Aadhaar by March 31, their account should not be suspended.