PAN-Aadhaar Link: For the last one year, the government has been repeatedly saying that people should link their PAN card with their Aadhaar card. For this, the government gave several deadlines, in which free update facility was being provided. But now a fee of Rs 1000 is being charged for this. May 31 is the last date for updating Aadhaar and PAN, after this double tax will be deducted if PAN-Aadhaar is not linked.
The loss will be doubled
The government has clarified that after May 31, those whose PAN card is not linked to their Aadhaar will have to pay double the TDS. That is, if someone’s TDS is deducted at Rs 50,000, then it will be deducted up to Rs 1 lakh. On the other hand, those who link their PAN-Aadhaar by this date will not suffer much loss.
Steps to prevent fraud
Let us tell you that many cases of fraud related to PAN card are coming to light across the country, and people also use many tricks to evade taxes. To stop this, the government has made it mandatory to link PAN and Aadhaar. The Income Tax Department has also asked banks, forex dealers and other institutions to provide details of financial transactions by May 31. Failure to do so can lead to a fine. A fine of Rs 1,000 per day will be imposed for late filing of SFT.
This is how PAN card will be linked
To link PAN card to Aadhaar card, you will first have to visit the income tax website www.incometax.gov.in. Here you will see the option of Link Aadhaar, in which you will have to enter information like your Aadhaar number, PAN number, date of birth. After this, by following the further process, your Aadhaar and PAN will be linked.