Thursday, July 25, 2024

Income tax notice on the PAN-Aadhaar link! link both before 31 May to avoid paying extra tax

If you haven’t connected your PAN card to your UID number yet, you may have to pay for this income tax alert. The tax might be doubled for you. By May 31st, the Income Tax Department is warning taxpayers and advising individuals to link their PAN with Aadhaar.

Income tax

By May 31st, PAN must be linked to Aadhaar.

Before May 31st, if you are a taxpayer, link your PAN card to your Aadhaar. You might have more problems if you miss this deadline. You could have to bear severe losses. This information was provided via a tweet from the Income Tax Department. Before May 31st, people are recommended to link their PAN and Aadhaar.

Income tax

How come you didn’t link?

The Income Tax Department states that you will be required to pay twice as much TDS if you choose not to link your PAN card with Aadhaar. According to the Central Board of Direct Taxes (CBDT) circular dated 24 April 2024, individuals who have had less TDS taken from their account would not be required to pay additional TDS if they link their PAN with Aadhaar by May 31. No action will be taken against these individuals, according to CBCD. That is, link your PAN with Aadhaar before May 31 if you want to avoid taking an extra tax deduction.

Income taxHow to connect Aadhaar and PAN

  • From your house, you can connect your PAN to Aadhaar. Because of this, you will have to visit the Income Tax Department’s website
  • Click on Quick Links and click on Link Aadhaar.
  • After entering your PAN and Aadhaar number, click on Validate.
  • After entering your name and mobile number written on the Aadhaar card, click on the option of Link Aadhaar.
  • Enter the OTP received on the mobile number and click on Validate.

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