Link your PAN with Aadhaar TODAY to avoid fine; check online process here

tech.hindustantimes.com:

Permanent Account Number (PAN) and Aadhaar card holders need to link these documents today to avoid any consequences. Failing in linking the documents may impose a fine of Rs. 500 - Rs. 1000 on you. "Under the provisions of the Income-tax Act, 1961 (“the Act”), every person who has been allotted a PAN as on 1st July, 2017 and is eligible to obtain Aadhaar Number, is required to intimate his Aadhaar to the prescribed authority on or before 31st March, 2022. On failure to do so, his PAN shall become inoperative and all procedures in which PAN is required shall be halted. The PAN can be made operative again upon intimation of Aadhaar to the prescribed authority after payment of a prescribed fee," the Ministry of Finance said in a statement on Wednesday.

The ministry further informed that a window of opportunity has been provided to the taxpayers upto March 31, 2023 to intimate their Aadhaar to the prescribed authority for Aadhaar-PAN linking without facing repercussions. As a result, taxpayers will be required to pay a fee of Rs. 500 up to three months from April 1, 2022 and a fee of Rs. 1000 after that, while intimating their Aadhaar.

However, till March 31, 2023 the PAN of the assessees who have not intimated their Aadhaar, will continue to be functional for the procedures under the Act, like furnishing of return of income, processing of refunds etc.

It can be noted that after March 31, 2023, the PAN of taxpayers who fail to intimate their Aadhaar, as required, shall become inoperative and all the consequences under the Act for not furnishing, intimating or quoting the PAN shall apply to such taxpayers.

Here are the simple and easy steps which you can follow to link your PAN with Aadhaar:

1. Open the Income Tax e-filing portal