- Date : 28/07/2023
- Read: 3 mins
Taxpayers who missed the deadline to complete PAN–Aadhaar Link cannot file ITR as their PAN becomes inactive. Learn how to reactivate your PAN Card by paying the fine imposed by the income tax department!
- PAN Card becomes inactive for users who missed the PAN–Aadhaar linking deadline
- The ITR deadline is approaching, but taxpayers cannot file with an inactive PAN Card
- Taxpayers are to pay Rs 1000 as a fine to reactive PAN Card
- TDS and TCS are to be deducted at higher rates for non-compliant taxpayers
After extending the deadline multiple times in the last 5 years for completing the PAN-Aadhaar link, the Government of India introduced a final deadline of July 1, 2023, for all taxpayers. As the deadline for completing the PAN-Aadhaar link has expired, some taxpayers find their PAN Card inoperative due to non-compliance. These Taxpayers can face serious consequences as PAN is important for various financial transactions.
Why is it important for a taxpayer to complete the PAN-Aadhaar Link?
The linking of PAN cards to Aadhaar was introduced as a measure to prevent income tax evasion and identity theft. The PAN-Aadhaar link makes it easier for the taxpayer to file their returns (ITR) and for the Income Tax Department to audit financial transactions.
What are the consequences of taxpayers not completing the PAN-Aadhaar link?
The PAN Card of taxpayers who have failed to complete the PAN-Aadhaar link before July 1, 2023, has become inoperative.
These taxpayers may face the following problems:
1. Inability to file the income tax returns (ITR) as the PAN card has been rendered inactive due to non-compliance with the PAN-Aadhaar link.
2. Pending returns (ITR) for the taxpayers will not be processed by the income tax department.
3. The TDS and TCS deducted from the taxpayers will be at a higher rate.
4. No income tax refunds will be issued for the taxpayers until they reactivate their PAN Cards.
Also Read: Lesser-known tax deduction techniques to save money.
How can taxpayers activate their inoperative PAN card?
Taxpayers can activate their inoperative PAN card by performing the following steps:
1. Log into their account on the income tax website for filing income tax returns (ITR).
2. Navigate to the “Profile Section” on the website once you are logged in.
3. Click on the option “Link PAN with Aadhaar” to initiate the PAN-Aadhaar link.
4. Enter the required details and pay the amount (Rs 1000) to complete the process.
5. Once the process has been completed, the PAN Card will become active within 30 days.
Please note that the penalty for non-compliance will be selected as “Other Payments” during the PAN-Aadhaar link process.
Also Read: Here Are the Best Income Tax Saving Options for Salaried Women.
Click here for the latest articles
Conclusion
While you may have missed the deadline to complete the PAN-Aadhaar link, you can still reactivate your PAN card by paying the fine on the "Income Tax E-filing" website. The PAN-Aadhaar link will help avoid identity theft and prevent income tax evasion, which will benefit all taxpayers across the country.
- PAN Card becomes inactive for users who missed the PAN–Aadhaar linking deadline
- The ITR deadline is approaching, but taxpayers cannot file with an inactive PAN Card
- Taxpayers are to pay Rs 1000 as a fine to reactive PAN Card
- TDS and TCS are to be deducted at higher rates for non-compliant taxpayers
After extending the deadline multiple times in the last 5 years for completing the PAN-Aadhaar link, the Government of India introduced a final deadline of July 1, 2023, for all taxpayers. As the deadline for completing the PAN-Aadhaar link has expired, some taxpayers find their PAN Card inoperative due to non-compliance. These Taxpayers can face serious consequences as PAN is important for various financial transactions.
Why is it important for a taxpayer to complete the PAN-Aadhaar Link?
The linking of PAN cards to Aadhaar was introduced as a measure to prevent income tax evasion and identity theft. The PAN-Aadhaar link makes it easier for the taxpayer to file their returns (ITR) and for the Income Tax Department to audit financial transactions.
What are the consequences of taxpayers not completing the PAN-Aadhaar link?
The PAN Card of taxpayers who have failed to complete the PAN-Aadhaar link before July 1, 2023, has become inoperative.
These taxpayers may face the following problems:
1. Inability to file the income tax returns (ITR) as the PAN card has been rendered inactive due to non-compliance with the PAN-Aadhaar link.
2. Pending returns (ITR) for the taxpayers will not be processed by the income tax department.
3. The TDS and TCS deducted from the taxpayers will be at a higher rate.
4. No income tax refunds will be issued for the taxpayers until they reactivate their PAN Cards.
Also Read: Lesser-known tax deduction techniques to save money.
How can taxpayers activate their inoperative PAN card?
Taxpayers can activate their inoperative PAN card by performing the following steps:
1. Log into their account on the income tax website for filing income tax returns (ITR).
2. Navigate to the “Profile Section” on the website once you are logged in.
3. Click on the option “Link PAN with Aadhaar” to initiate the PAN-Aadhaar link.
4. Enter the required details and pay the amount (Rs 1000) to complete the process.
5. Once the process has been completed, the PAN Card will become active within 30 days.
Please note that the penalty for non-compliance will be selected as “Other Payments” during the PAN-Aadhaar link process.
Also Read: Here Are the Best Income Tax Saving Options for Salaried Women.
Click here for the latest articles
Conclusion
While you may have missed the deadline to complete the PAN-Aadhaar link, you can still reactivate your PAN card by paying the fine on the "Income Tax E-filing" website. The PAN-Aadhaar link will help avoid identity theft and prevent income tax evasion, which will benefit all taxpayers across the country.
