500-1,000 fine if PAN-Aadhaar is not attached within 31st of a month

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The New Indian Express

New Delhi: Taxpayers who do not connect PAN-Aadhaar should pay a fine of Rs 500 to Rs 1,000 if they do not assemble earlier than March 31, the Income Tax Department mentioned.

The final day of the Aadhaar-PAN meeting is May 31, 2022 and the PAN card might be deactivated if it is not linked.

The Central Board of Direct Taxes (CBDT) has notified that, if the association is made after three months or by June 30, a fine of Rs. The PAN might be deactivated if it is not assembled and might be activated solely after fee of fines, the CBDT mentioned in its notification on May 29.

Amit Maheshwari of Tax Partner, AKM Global, mentioned the federal government had prolonged the deadline for PAN-Aadhaar meeting. Now it is mentioned that penalties are being finalized. If the PAN is disabled, it could be troublesome for that individual individual to conduct monetary transactions. Those who do not use the Income Tax Portal could make a pan-Aadhaar affiliation by way of SMS.

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