Hi Buddy,
If your Permanent Account Number (PAN) card is not connected to your Aadhaar card, it will become inactive. The deadline for linking your PAN to your Aadhaar was on March 31, 2022. If a PAN holder does not link their card to the 12-digit random number unique identification, Aadhaar, they would face a variety of problems.
If you want the property to be registered in your name, simply seek legal assistance from NoBroker.For example, if your PAN becomes invalid, you'll have trouble opening a bank account, completing an income tax return, or investing in stocks or other capital market instruments. Not only that, but failure to provide a PAN card will result in numerous penalties under various provisions of the IT Act.
Penalties:Individuals would face a slew of penalties if their PAN is not connected to Aadhaar by the deadline. If you fail to link your PAN with Aadhaar, you would be fined Rs 1,000 under section 234H of the IT Act
In addition, non-filing of income tax returns carries a penalty of Rs10,000 under section 234F of the IT Act. If a taxpayer fails to link their PAN number with Aadhaar, they will be unable to file an income tax return. Not only that, but late submission of an income tax return will result in interest being assessed
Non-compliance with the terms of Section 139A also carries a penalty of Rs10,000. For specific financial operations, the clause makes it essential to link PAN with Aadhaar, and failure to do so will result in non-compliance
In the meanwhile if a PAN is not provided, tax deducted at source (TDS) and tax collected at source (TCS) will be deducted at a higher rate under sections 206AA and 206CC of the IT Act
YES! Even though the due date has passed, an individual can link their PAN with Aadhaar. A PAN card, on the other hand, can only be used after it has been linked to an Aadhaar number. As a result, you'll need to link it to Aadhaar. In addition, for linking PAN with Aadhaar after the due period, a penalty or fee will be assessed under section 234H.
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Aadhaar card and pan card not linked what is problem
Ravindra Sambhaji Shinde
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3 Year
2022-05-23T11:04:13+00:00 2022-05-25T11:25:07+00:00Comment
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