Aadhar-PAN Linking: Has your PAN been deactivated? Be active in this way, you will have to wait even after the penalty

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The deadline for linking PAN card with Aadhaar has passed. For this, the Income Tax Department had given time to all taxpayers till June 30, which has passed. In such a case, those who have not linked PAN with Aadhaar till now, their PAN is deactivated. As PAN is very important in many tasks, for this reason it is also necessary to reactivate it.

Learn how to activate PAN

Today we are going to tell you how you can resume your closed PAN card? How much penalty do you have to pay for this? How long will it take for the PAN to be operational again? Before knowing all this let us also tell you some other things like what are the disadvantages of not activating pan card? Which jobs can cause problems due to lack of PAN card?

Disadvantages of not having PAN

Paan card has become a very important document nowadays. If you have to file income tax return then you cannot file it without PAN number. If you have filed your return before June 30, in this case if the PAN card is deactivated your refund will be stopped and you will not get interest on the return money until you reactivate it.

here also PAN becomes necessary

Apart from this, not having a PAN card is also causing a lot of damage. People who do not have PAN card or PAN card has been deactivated will have to pay more TDS each time. If you do more than 50 thousand cash transactions in the bank, PAN card becomes necessary there too. PAN is also required for buying jewelery worth more than Rs 50,000.

Penalty can be given in this way

According to CBDT guidelines, after the deadline i.e. June 30, the taxpayer will have to pay a penalty of Rs 1000 for linking PAN with Aadhaar. This means that if your PAN is also deactivated, now you have to get a challan from the bank to deposit the penalty of Rs. The e-filing portal of Income Tax states from which banks you can get challan.

One month wait

After receiving the challan from the bank, you can link PAN with Aadhaar online. For this your PAN and Aadhaar details need to be same. If there is a problem, fix it first. After this, with the help of the e-filing portal, you can link your PAN with Aadhaar in a few steps. The Income Tax Department says it may take 30 days to reactivate the PAN if linked after the deadline.