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PAN-Aadhaar: Ensure your PAN and Aadhaar are linked when buying a property to avoid paying 20% TDS instead of 1%. Get all the details and avoid penalties.
In response to a Right to Information (RTI) request, the Central Board of Direct Taxes (CBDT) revealed that 11.5 crore PAN cards were deactivated since they weren't connected to Aadhaar cards by the deadline.
If you have not linked your PAN with Aadhaar earlier and want to do it now, it can very well be done online or offline. However it will involve payment of a late fee of Rs 1000. But if due to any reason like date of birth mismatch, etc the linkage could not be done, then you will have to get it corrected first.
If the PAN-Aadhaar linking is done on or after July 1, 2022, a Rs1,000 penalty will be levied. It must be paid in a single challan before submitting your request for an Aadhaar-PAN linkage on the e-filing portal.
PAN Aadhaar Linking: Effective from 1st July 2017, it is mandatory to quote Aadhaar for the filing of IT Returns and also linking Aadhaar with PAN. However, many taxpayers were unable to link their Aadhaar with their PAN. Here's how to resolve this issue.