A few days ago CBDT had issued a notification stating the modus operandi to make the PAN inoperative if its not linked with Aadhar card.
In that notification it was no where mentioned that if you don’t link your PAN with Aadhar you might have to pay Penalty of Rs. 10,000. However many leading news papers and websites have issued the news that if one doesn’t link his PAN with Aadhar till 31.03.2020 then he might have to pay penalty of Rs. 10,000/-.
The section quoted in those post is 272B wherein they have stated that “Permanent Account Number (PAN) cardholders who fail to link it with their Aadhaar card will have to furnish a huge penalty after the deadline ends on March 31. A penalty of Rs 10,000 will be levied on those failing to comply with the March 31 deadline, the Income Tax Department said.
The penalty falls under Section 272B of the Income Tax Act, which states “If a person fails to comply with the provisions of section 139A, the Assessing Officer may direct that such person shall pay, by way of penalty, a sum of ten thousand rupees.”
The section used in the penalty section is 139A which talks about PAN number and who needs to apply for PAN card and quote PAN card details whereas the requirement of linking PAN and what would happen if same is not linked has been mentioned u/s 139AA as mentioned in our earlier post linked above.
Hence there is no penalty for non linking of PAN card with Aadhar card. The only set back for not linking is that your PAN would become inoperative. Therefore the news that they are spreading is just FAKE as per our humble opinion.
As per the latest figures, over 307.5 million PANs have already been linked to Aadhaar, while 175.8 million PANs are yet to be linked with the 12-digit biometric ID. However if you wish to link your PAN card with Aadhar card you can read our ARTICLE here.
Thus as a social responsibility please spread/ share correct news with everyone. It is therefore requested to spread this post as much as possible so that people don’t panic.
This article is just for information purpose it is always advisable to hire a professional for practical execution. If you need assistance you can ask a question to our expert and get the answer within an hour or post a comment about your views on the post and also subscribe to our newsletter for latest weekly updates.
Comments 1