According to the Finance Bill introduced in Parliament, another new section has now been added to the Income Tax Act.
Mumbai: The government has now fixed June 30, 2021 as the last date for linking PAN number with Aadhar card. If you have not yet linked your PAN number to Aadhar Card, this is your last chance. It is mandatory to connect the pan-base to each other. Otherwise your PAN card will be invalid (Invalid Pan Card). This can lead to financial problems and you may have to pay a fine of up to Rs 1,000.
According to the Finance Bill introduced in Parliament, another new section has now been added to the Income Tax Act. This is a related section. As per Section 237 H of the Income-tax Act, 1961, if PAN-Aadhaar is not attached, such persons will have to pay an additional penalty of Rs. According to the new provision included in the Income Tax Act, the government has fixed a fine of Rs 1,000 for those who do not connect PAN and Aadhaar.
Lincoln of PAN-Aadhar card will declare PAN card invalid. Therefore, if any person uses an invalid PAN card in any financial transaction, he will be fined Rs.1000. Not only that, if the invalidated PAN card is used a second time, the penalty amount will also be higher. The Income Tax Officer will have the power to fix the penalty.
Why is it necessary to link pan-base?
Under Section 139AA, every citizen has to provide Aadhaar number in his income tax return and PAN card application. Also, those who were allotted PAN till 1st July 2017 and those who are eligible to get Aadhar number need to attach Aadhar card to their PAN card.
Visit the Income Tax e-filing website to link PAN-Aadhaar.
On the left side of the site page you will find the option of quick links. Here you have to click on the ‘Link Aadhaar’ option.
Here you have to enter your PAN, Aadhaar number and name. An OTP will be sent to you after providing this information.
