Aadhar-PAN linking: The Revenue Tax Division has issued an recommendation to its taxpayers to keep away from greater charges. The Revenue Tax Division gave a reminder to the taxpayers that in the event that they haven’t but linked their PAN with Aadhaar, then get it completed earlier than May 31. In any other case they must pay TDS at twice the relevant price. The Revenue Tax Division had issued a round final month stating that no motion could be taken towards them until the due date of May 31. The Revenue Tax Division suggested on a social media platform that taxpayers ought to please hyperlink their PAN and Aadhaar earlier than May 31, 2024 in order that they will keep away from tax deduction at a better price.
The CBDT had issued a round on 23 April 2024, stating that if PAN is linked with Aadhaar by 31 May 2024 for transactions as much as 31 March 2024, then greater price of tax deduction will be prevented.
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Who must get the linking completed
Below part 139AA of the Revenue Tax Act, each one who was allotted a PAN on July 1, 2017 and who’s eligible to acquire an Aadhaar quantity, should inform his Aadhaar within the prescribed type. If somebody doesn’t hyperlink Aadhaar and PAN by June 30, 2023, then his PAN will probably be deactivated. There are some people who find themselves exempted from the impact of PAN deactivation. Some particular classes of individuals are exempted comparable to non-residents, individuals above 80 years of age or individuals who’ve been 80 years of age or extra in the course of the earlier monetary 12 months.
How you can hyperlink Aadhaar and PAN
Step 1: Go to the official web site of Revenue Tax Division — https://www.incometax.gov.in/iec/foportal/
Step 2: Click on on ‘Hyperlink Aadhaar’ beneath ‘Fast Hyperlinks’. Enter your PAN, Aadhaar quantity and identify registered within the Aadhaar card.
Step 3: Enter your particulars:
PAN quantity Aadhaar quantity Your identify on the Aadhaar card Your cellular quantity
If solely the 12 months of delivery is talked about within the Aadhaar card, then examine the corresponding field. Additionally, examine the field agreeing to confirm Aadhaar particulars. After this, click on on the ‘Hyperlink Aadhaar’ button.
Step 4: Enter the captcha code
An OTP will probably be despatched to your registered cellular quantity. After this, click on on the Confirm button.
Notice: You’ll be able to hyperlink your Aadhaar and PAN solely after paying a tremendous of Rs 1,000.
After doing this, you may go to the revenue tax web site and click on on the hyperlink aadhaar standing choice to examine whether or not your PAN is linked to aadhaar or not.
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