PAN-Aadhaar Linking: Pending refunds and interest on such refunds will not be issued to those who have ‘inoperative’ PAN card. For such taxpayers, both TDS and TCS will be collected at a higher rate.
PAN-Aadhaar Linking: Taxpayers who have not linked their Aadhaar and PAN (Aadhaar-PAN Linking), the Income Tax Department has given relief to them. The Income Tax Department on Tuesday said that even those who have inoperative PAN cards will be able to file their tax returns till the July 31 deadline. In fact, those who did not link their PAN and Aadhaar till June 30, their PAN has become inactive.
Even though people with inoperative PAN can file income tax returns, they will still have to face several ‘consequences’, according to the Income Tax Department.
These people will get discount
The IT department also addressed the concerns of NRIs and OCIs (Overseas Citizen Of India) who are exempted from linking PAN with Aadhaar. According to the Income Tax Department, an inoperative PAN is not an inactive PAN. Income tax return can be filed even if PAN is inoperative.
What will be the problem
However, those who have ‘inoperative’ PAN card will not be issued pending refunds and interest on such refunds. TDS for such taxpayers (TDS) and TCS (TCS) both will be collected at high rates.
How long was the chance with late fees
The Income Tax Department had set June 30 as the last date for linking PAN with biometric Aadhaar with a late fee of Rs 1,000. Those who failed to link their Aadhaar and PAN will now have to inform the tax authorities that they want to link the two documents.
these things can be done
Even if your PAN has been deactivated, you can still do some work. For example, if you buy a car worth more than Rs 10 lakh, this can be done with an inactive PAN. Inactive PAN will come in handy even if your house rent is more than Rs 50,000.
