The Income Tax Department has made it mandatory to link PAN card with Aadhaar. For this, taxpayers have only time till June 30. PAN card may become inactive if not linked with Aadhaar by the deadline. Apart from this, the taxpayer may have to face many losses. However, there are some people who do not need to worry about all these things.
These losses after the deadline
Before proceeding further, let us tell you that under the Income Tax Act 1961, it is necessary to link PAN card with Aadhaar. There can be many losses if PAN is not linked to Aadhaar by the deadline i.e. 30 June 2023. First of all, after June 30 i.e. from July 1, a fine of Rs 1000 will have to be paid for this. If PAN and Aadhaar are not linked, the income tax refund of the taxpayer will be withheld. Another major disadvantage is that you will be charged more TCS and TDS.
necessary for those
Let us now know for whom it is necessary to link PAN with Aadhaar… Section 139AA of the Income Tax Act explains this in detail. This section says that every person who had PAN as on July 1, 2017 and is eligible to obtain an Aadhaar number, is required to link PAN with Aadhaar by the deadline i.e. June 30.
Deadline is near, but these people are not worried, they do not need to link PAN-Aadhaar
