Penalty for not linking PAN-Aadhaar, know the rules

PAN-Aadhaar link: PAN i.e. Permanent Account Number and Aadhaar card have become important documents of every citizen of the country. It is difficult to do any kind of work without it. PAN and Aadhar card are essential from availing government schemes to buying SIM cards. PAN Card is issued by Income Tax Department and Aadhaar Card is issued by Unique Identification Authority of India (UIDAI). The Income Tax Department has made it mandatory to link PAN with Aadhaar. If you do not link your PAN number with Aadhaar, you will have to pay a penalty for doing this. At the same time, if you are employed, TDS will be gradually deducted from your account every month. In total you will have to face a double loss. Come to know what the Income Tax Department rules say regarding PAN-Aadhaar linking. What are the Income Tax Rules related to PAN-Aadhaar Linkage? Section 139AA of Income Tax: This section makes it mandatory for all taxpayers to provide Aadhaar card details while filing income tax return i.e. ITR. Any Indian citizen who has not linked his PAN number with Aadhaar will have to pay a penalty of Rs.1,000 to link it. If a PAN holder does not link his PAN number with Aadhaar card by the deadline set by the Income Tax Department, the PAN card will be deactivated. The Income Tax Department has made PAN-Aadhaar linking mandatory to control and prevent tax evasion. Who is exempted from linking PAN with Aadhaar? There is also an exemption in Income Tax Department rules for linking PAN with Aadhaar. Exemption can be granted if one is a resident of states like Jammu Kashmir, Assam, Meghalaya etc. At the same time, a non-resident taxable person is also exempted under the Income Tax Act-1961. Income tax rules also provide relief to senior citizens above 80 years of age and non-Indian citizens are also not covered under income tax rules. What is the solution if PAN is not linked with Aadhaar? If one does not link Aadhaar with PAN, the PAN status will remain active but it will be shown as inactive and TDS will continue to be deducted wherever he works. If this happens, if someone wants to link their PAN with Aadhaar, Rs. 1000 fine and can attach it. After doing this, the PAN status will be active within seven to 30 days. After this, all TDS credits will be reflected in Form 26AS and can be claimed while filing ITR. Also Read: Live Jail For Betting In Gambling, Hard To Escape Law's Claw Also Read: Gold Smuggler, Hiding In Banana And Bamboo Plantation, Escapes After Attacking BSF Jawan The post PAN-Aadhaar Not Linked Will Be Penalized, Know The Rules appeared first on Prabhat Khabar.