The new update necessitates choosing AY 24–25 as the Assessment Year and "Other Receipts (500)" as the payment method. Before March 31, 2023, AY 23–24 was chosen for payments.
Digital Desk: The PAN and Aadhaar linking deadline has been postponed till June 30, 2023. The PAN card will expire on July 1 if the two documents are not connected by this date. However, there is now a Rs. 1,000 fine for people who did not link the PAN and Aadhaar by the initial deadline of March 31, 2022.
The new update necessitates choosing AY 24–25 as the Assessment Year and "Other Receipts (500)" as the payment method. Before March 31, 2023, AY 23–24 was chosen for payments.
How to Check the Aadhaar-PAN Linking Status
• a) To file your income tax electronically, go to incometax.gov.in.
• b) Look for the 'Link Aadhaar Status' option.
• c) Select 'View Link Aadhaar Status' after entering your PAN and Aadhaar number.
• d) If your PAN is connected to your Aadhaar, a message will appear on your screen.
• Your PAN 10 digits PAN> will be linked to Aadhaar number 12 digits Aadhaar card number>.
You can follow the instructions below to link your PAN to your Aadhaar:
1. Go to the Income Tax Department of India's official website at https://www.incometaxindiaefiling.gov.in/.
2. click the 'Link Aadhaar' option available in the 'Quick Links' section on the homepage,
3. When a new page opens, enter your PAN, Aadhaar number, and name as mentioned on your Aadhaar card.
4. Enter the page's Captcha code and click the "Link Aadhaar" button.
Why linking PAN and Aadhaar cards is crucial
• Multiple PAN Cards: By linking PAN and Aadhaar together, fraudulent activities will decline because it will be impossible to have multiple PAN Cards.
• Prevent Tax Evasion: The Income Tax Agency would be able to detect any form of tax evasion once PAN and Aadhaar are linked.
• Income Tax Returns: Since people will no longer need to show documentation for their income tax returns, filing income tax returns will be easier. The linking will speed up the filing of returns because Aadhaar has all of a person's information, including biometric verification.
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