Taxpayers who do not link PAN-Aadhaar by June 31 will have their PAN deactivated from July 1.
New Delhi: A fine of Rs 1,000 per head has to be paid for linking PAN-Aadhaar. There has been a lot of dissatisfaction among the people. The central government is adamant even as the opposition political parties demand that the fine order be withdrawn. Rather, Union Finance Minister Nirmala Sitharaman on Thursday argued in favor of the fine.
Aadhaar-PAN linking is free till 31 March 2022. A fine of Rs 500 has been added from April 1. Later, from July 1, it was increased to Rs 1,000. While the deadline for PAN-Aadhaar linking was last March 31, it has been extended to June 30. A fine of Rs 1,000 is also maintained. Nirmala said in a press conference that the government has given as much time as possible. Everyone should link PAN-Aadhaar as soon as possible. If the deadline is exceeded, the penalty amount will increase further.
In fact, a statement issued by the Union Finance Ministry on March 28 said that everyone would have to link PAN-Aadhaar otherwise they would face problems in terms of TDS and TCS. Taxpayers who do not link PAN-Aadhaar by June 31 will have their PAN deactivated from July 1.
Notably, various types of subsidies and social welfare schemes are disbursed directly to banks. That's why it is important to have a bank account for everyone, from the student to the elderly person in the family. Most of these beneficiaries are poor and marginalized. They are struggling to pay a fine of Rs 1,000 in PAN-Aadhaar linking. In a family with five bank accounts of five members, it is not an easy matter to spend five thousand rupees in PAN-Aadhaar linking. However, the Center will not waive the fine, but will increase the fine after a certain period of time.
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