PAN Card: Didn't get PAN and Aadhaar linked thinking of only Rs 1000 fine? Now Rs 6000 will be fined, Know How

People whose PAN card has become in-operative since July 1 due to linking of PAN and Aadhaar will face the biggest loss while filing ITR (Income Tax Return).

PAN Aadhaar Link: After many deadlines were over, the last date for linking PAN and Aadhaar ended on June 30. Now all those PAN cards which are not linked with Aadhaar have become in-operative. If you use this PAN card, then you will have to pay a fine of Rs 10,000. 

According to the Income Tax Department, to reactivate the in-operative PAN card after June 30, you will have to pay a fee of Rs 1000, after which you will be able to use your PAN card again after about a month. But the matter is not that simple. You will be fined not Rs 1000 but a total of Rs 6000. Let's know how.

➤ PAN Aadhaar Link: Didn't get PAN and Aadhaar linked thinking of only Rs 1000 fine? Now Rs 6000 will be fined.

➤ PAN Card: Didn't get PAN and Aadhaar linked thinking of only Rs 1000 fine? Now Rs 6000 will be fined, know how

➤ People whose PAN card has become in-operative since July 1 due to linking of PAN and Aadhaar will face the biggest loss while filing ITR (Income Tax Return).

➤ Aadhaar Pan Link:

PAN Aadhaar Link: After many deadlines were over, the last date for linking PAN and Aadhaar ended on June 30. Now all those PAN cards which are not linked with Aadhaar have become in-operative. If you use this PAN card, then you will have to pay a fine of Rs 10,000. 

According to the Income Tax Department, to reactivate the in-operative PAN card after June 30, you will have to pay a fee of Rs 1000, after which you will be able to use your PAN card again after about a month. But the matter is not that simple. You will be fined not Rs 1000 but a total of Rs 6000. Let's know how.

➤ ITR filers will be in trouble:

People whose PAN card has become in-operative since July 1 due to linking of PAN and Aadhaar will face the biggest loss while filing ITR (Income Tax Return). You will need PAN to file ITR. Your old PAN card will not be accepted on the website of the Income Tax Department itself. 

Also Read - ITR Filing 2023: Here's what you need to know while Filing Income Tax Returns

You will have to pay Rs 1000 to activate it again. But this process will take 1 month, while the last date for filing tax returns is 31 July. If missed, late fee of Rs 5000 will have to be paid. In such a situation, if you file return after activating PAN, then you will have to pay ITR late fee of Rs 5000 and Aadhaar PAN linking Rs 1000. That means a fine of 6000 rupees.

➤ It will take 30 days to activate Aadhaar:

The last date for filing income tax return i.e. ITR is July 31, 2023. On the other hand, if you have not done your PAN and Aadhaar Link (PAN Aadhaar Link), then you will have to wait for about 30 days. 

If you apply for PAN Aadhaar link today, you will be able to use PAN card only till 7th August. You will not be able to file your ITR till 31st July because ITR filing is a long process which can take up to 30 days and as of today you do not have that much time.

➤ Will have to wait for 1 month after paying the fine:

It is not that you pay the fine and after that your PAN will be activated. It will take one month for the PAN to become active again. You will have to inform the concerned department after paying the fine. 

On the information given by you, the department will reactivate your PAN after 1 month. Let's say you paid the fine on 2nd July. After that request for activation of PAN again then your PAN will be activated on 1st August. Experts say that this fine payment will be in the form of other payments. So make sure that the correct option is selected while making the fine payment.

➤ Activate your inactive PAN in this way:

➢ To link PAN and Aadhaar, first log in to your account on the e-filing website of the Income Tax Department. 

➢ After logging in, click on the option to link PAN with Aadhaar.

➢ After clicking on this link you will be asked for personal information. You have to fill it. After filling all the columns, the fine amount of Rs 1000 has to be filled.

➢ You can easily pay the penalty amount through e-pay tax. After this, its information will have to be given to the Income Tax Department.