Missed AADHAAR-PAN Linking Deadline? Brace for a Rs6000 Penalty Instead of Rs1000
Missed AADHAAR-PAN Linking Deadline? Brace for a Rs6000 Penalty Instead of Rs1000
Unlinked AADHAAR-PAN? Hefty Penalty Awaits
The deadline for linking AADHAAR with PAN was June 30, 2023. If you missed it, you're in for a surprise. The penalty isn't just Rs1000 anymore. As per the new rules, you could be slapped with a Rs6000 fine. This change has left many taxpayers in a tizzy, questioning the sudden hike in penalty.
So, you missed the deadline to link your AADHAAR with PAN by June 30, 2023?
That might be more costly than you think.
It's not just about the Rs1000 penalty anymore.
Here's the catch - it takes about 30 days to link PAN and Aadhaar. This means you won't be able to file your tax return before the July 31, 2023 deadline.
And if you can't file your return on time, you're looking at a late filing fee of up to Rs5000.
Add the Rs1000 penalty for not linking Aadhaar and PAN, and you're staring at a total penalty of Rs6000.
So, a small oversight ended up costing you big.
Always remember to meet your timelines... you don't know where non-compliance will backfire.
