The deadline for linking Aadhaar with PAN is approaching, and if you haven’t completed the process yet, it’s crucial to do it immediately to avoid any consequences. The Income Tax department has extended the deadline to June 30, 2023, providing taxpayers with additional time to link their PAN and Aadhaar without facing repercussions.
To link PAN with Aadhaar, both registered and unregistered users can visit the e-Filing portal (www.incometax.gov.in) and follow the steps below:
Step 1: Login to the e-Filing portal and go to the Dashboard. Under the Profile Section, click on the “Link Aadhar to PAN” option.
Step 2: Enter your PAN and Aadhaar numbers.
Step 3: Click on “Continue to Pay Through e-Pay Tax.”
Step 4: Enter your PAN and confirm it, along with your mobile number to receive an OTP (One-Time Password).
Step 5: After OTP verification, you will be redirected to the e-Pay Tax page.
Step 6: Proceed by clicking on the Income Tax tile.
Step 7: Select the Assessment Year (AY) as 2024-25 and choose the type of payment as “Other Receipts (500).” Click “Continue.”
Step 8(a): The applicable fee amount will be pre-filled under the “Others” category. Once the fee payment is completed, you can link your Aadhaar number with PAN on the e-Filing Portal.
It’s important to note that starting from July 1, 2022, a fee of Rs 1000 will be applied for Aadhaar-PAN linkage. This fee must be paid in a single challan before submitting the linking request on the e-Filing portal.
Authorized Banks for e-Pay Tax include Axis Bank, Bank of Baroda, Bank of India, Bank of Maharashtra, Canara Bank, Central Bank of India, City Union Bank, Federal Bank, HDFC Bank, ICICI Bank, IDBI Bank, Indian Bank, Indian Overseas Bank, IndusInd Bank, Jammu & Kashmir Bank, Karur Vysya Bank, Kotak Mahindra Bank, Punjab National Bank, South Indian Bank, UCO Bank, and Union Bank of India (as of March 31, 2023).
Failure to link your Aadhaar with PAN by June 30, 2023, will result in your PAN becoming inoperative. This will have various implications, including the following:
- Refunds of any tax amount due under the Act will not be processed.
- Interest on such refunds will not be payable.
- If tax is deductible under Chapter XVIIB, it will be deducted at a higher rate in accordance with the provisions of section 206AA.
- If tax is collectible at source under Chapter XVII-BB, it will be collected at a higher rate in accordance with the provisions of section 206CC.
To avoid these consequences, ensure that you link your Aadhaar with PAN before the deadline.
