look news india
Aadhaar and PAN link : The deadline to link Aadhaar card with PAN has expired. In such a situation, if you have missed linking it, then you will be surprised to hear this news. Yes, the Income Tax Department had fixed 31 May 2024 as the last date to link Aadhaar with PAN. Due to the expiry of its deadline, people may face a lot of difficulties in completing the work related to it.
However, due to not being linked to Aadhaar-PAN, their PAN card is now closed. This means that now you cannot do many tasks related to it. But, if taxpayers have to file their ITR by July 31, then they may face difficulty in doing so. It is possible that they may also have to pay a fine for this act.
cannot file ITR
If their Aadhaar card is not linked to the PAN card then they cannot file ITR. This is because now their PAN has been deactivated and less than a month is left for the last date to file ITR. Therefore, if the PAN is not activated even after paying the PAN card penalty, it may take at least 1 month to get activated.
Time taken to activate PAN
Suppose you are paying the penalty now, you will miss the deadline to file ITR due to the time taken to activate your PAN. If you file ITR after July 31, you will have to file it as a late ITR. But keep in mind that if you file ITR late, you may have to pay a hefty penalty. Rs 5,000 for taxpayers with income more than Rs 5 lakh.
