Income tax compliance calendar for May 2024
Income tax compliance calendar for May 2024 May 7 The deadline for paying April 2024's TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) liabilities May 15 1.…
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Deadline for PAN-Aadhaar Linking - May 31, 2024
Important Update for Those Who Haven’t Linked Their PAN with Aadhaar Card Yet. Failure to Link PAN with Aadhaar by May 31st Could Result in Doubled TDS Deductions. The Income Tax Department has announced that linking PAN with Aadhaar by this deadline will prevent any adverse actions. However, biometric linking is essential to avoid increased deduction rates according to income tax rules.
This decision is intended to assist taxpayers whose PANs were deactivated due to non-linkage with Aadhaar.
Official data as of January 29, 2024, shows that approximately 11.48 crore PANs were not linked with Aadhaar. Responding in Lok Sabha, Minister of State for Finance Pankaj Chaudhary revealed that the government levied a fine of Rs 601.97 crore for delays in linking PAN with Aadhaar between July 1, 2023, and January 31, 2024.
How to Link PAN with Aadhaar
Linking Via the Income-Tax Department Portal
Step 1: Go to incometaxindiaefiling.gov.in, the e-filing portal of the I-T department.
Step 2: Click on the ‘Link Aadhaar’ option under the ‘Quick Links’ section of the webpage.
Step 3: This will redirect you to a new page where the PAN number, Aadhaar number and other required details like your name need to be entered.
Linking Via SMS
Step 1: Dial 567678 or 56161 on a mobile device to send an SMS. The format should be UIDPAN (10-digit PAN card number), 12-digit Aadhaar card number, and space.
Step 2: Following that, an SMS will inform you of the PAN-Aadhaar link status. The Aadhaar and PAN will only be linked if the taxpayer’s date of birth matches both documents.
Here are the steps to check the status of linking your PAN with Aadhaar on the official income tax department website:
i) Visit the official website of the Income Tax Department at www.incometax.gov.in
ii) Navigate to the Quick Links section and locate the option for checking ‘Link Aadhaar Status’. Click on this option.
iii) A new screen will appear on your computer or mobile device. Enter your PAN and Aadhaar numbers into the designated fields.
iv) Once you have entered the required details, click on ‘View Link Aadhaar Status’.
v) The status of your Aadhaar-PAN linkage will be displayed on the page. For example, it will indicate whether your PAN (PAN Aadhaar) is linked to your Aadhaar number (Aadhaar Number) if they are linked.
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