If an individual does not link his/her PAN with his/her Aadhaar number by March 31, 2022, then the penalty for linking it after April 1, 2022, will have a two-fold impact.
As per a notification issued by the Central Board of Direct Taxes (CBDT) on March 29, 2022, Rs 500 will be charged if the PAN-Aadhaar is linked within three months after the expiry of the deadline. This would mean that if PAN-Aadhaar is linked between April 1, 2022, and June 30, 2022, then the individual will be liable to pay Rs 500 as a penalty for linking the same. If the linking of PAN-Aadhaar is done after three months, then a penalty of Rs 1,000 will be charged.
The notification read: In exercise of the powers conferred by sections 139AA and 234H read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-
- Short title and commencement: – (1) These rules may be called the Income-tax (Third Amendment) Rules, 2022.
(2) They shall come into force from the 1st day of April, 2022.
- In the Income-tax Rules, 1962 (herein after referred to as principal rules), in rule 114, after sub-rule 5, the following sub-rule shall be inserted, namely: –
“(5A) Every person who, in accordance with the provisions of sub-section (2) of section 139AA, is
required to intimate his Aadhaar number to the prescribed authority in the prescribed form and manner, fails to do so by the date referred to in the said sub-section, shall, at the time of subsequent intimation of his Aadhaar number to the prescribed authority, be liable to pay, by way of fee, an amount equal to, –
(a) five hundred rupees, in a case where such intimation is made within three months from the date referred to in sub-section (2) of section 139AA; and
(b) one thousand rupees, in all other cases.”