New Delhi: The Income Tax department has notified that taxpayers must complete the exercise of linking their PAN with Aadhaar by May 31, 2024 to avoid higher tax deduction at source and tax collection at source for transactions recorded up to March 31, 2024. Failure to link PAN with Aadhaar will result in your PAN being inoperative and higher tax deductions, the I-T department said on social media platform X.
How to link PAN with Aadhaar
Documents required
Valid PAN
Aadhaar number
Valid mobile number
Steps to link PAN with Aadhaar
Visit e-filing portal
In Quick Links, select ‘link Aadhaar’
You can also log in to your e-filing account and select ‘link Aadhaar’ from the profile tab
Enter PAN
Enter Aadhaar number
Select ‘continue’ to pay via e-pay tax
Enter mobile number
Enter OTP and verify your request for PAN-Aadhaar linking
You will reach the e-pay tax page
Select ‘proceed’
Select your concerned assessment year
Select ‘other receipts’ under the type of payment
Click ‘continue’
Once the payment is complete, navigate back to the ‘link Aadhaar’ page
After the payment details have been verified, select ‘continue’ for the submission of the PAN-Aadhaar linking request
Kind Attention Taxpayers!
To avail the benefits of CBDT Circular No.6/2024 dtd 23rd April, 2024, do remember to link your PAN with Aadhaar before May 31st, 2024.
Here are the steps to be followed to link your PAN with Aadhaar 👇🏼 pic.twitter.com/NtFBcC6LZM
— Income Tax India (@IncomeTaxIndia) May 29, 2024
What happens if you miss PAN-Aadhaar linking deadline
If you miss the deadline to link PAN with Aadhaar, you may face higher tax collection under sections 206AA and 206CC of the I-T Act, according to CBDT circular 6/2024 issued on April 23, 2024, the Income Tax department said in a social media post on X. These sections are related to tax deduction at source and tax collection at source.
The I-T department had relaxed the deadline to accommodate requests sent by taxpayers regarding higher tax deductions after their PAN turned inoperative. The new rule on tax deduction kicks in after May 31, 2024 and will remain in force until the concerned taxpayers links their PAN with an Aadhaar,
PAN-Aadhaar linking deadline: As the last date to link your PAN with Aadhaar nears, it is time for you to take the necessary steps to fulfil this requirement and avoid higher tax deductions on transactions recorded before March 31, 2024. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
