There are many disadvantages of invalid PAN card. One of these disadvantages is that with the help of this you will not be able to file your Income Tax Return (ITR). Explain that the last date for filing ITR is 31 July 2023.
In such a situation, if you link your PAN Aadhaar with a fine of Rs 1,000 even today i.e. on July 9, 2023, then it will take 30 days for your PAN card to become active. In such a situation, those who have linked their PAN card with Aadhaar card after July 1, will not be able to file their ITR till July 31.
Those people who have not got their PAN-Aadhaar Link done by June 30, 2023, their PAN card has been considered invalid. There are many disadvantages of invalid PAN card. One of these disadvantages is that with the help of this you will not be able to file your Income Tax Return (ITR) . Explain that the last date for filing ITR is 31 July 2023. In such a situation, if you link your PAN Aadhaar with a fine of Rs 1,000 even today i.e. on July 9, 2023, then it will take 30 days for your PAN card to become active. In such a situation, those who have linked their PAN card with Aadhaar card after July 1, will not be able to file their ITR till July 31.
You will be hit by Rs 6,000
In such a situation, if you miss filing your ITR before July 31 ie the deadline, then you will be fined Rs 5,000. Actually if you file your ITR after 31st July then it will be considered as Late ITR. Explain that if your total income is more than Rs 5 lakh annually, then you will have to pay a fine of Rs 5,000 for late ITR filing. At the same time, to reactivate your invalid PAN card, you will have to pay a fine of Rs 1,000. That is, you will be hit by a total of Rs 6,000.
The fine for these people is only Rs 1,000.
Explain that if your annual income is less than Rs 5 lakh, then you will have to pay a fine of only Rs 1,000 for late ITR filing. Also, you will have to spend Rs 1,000 to reactivate your invalid PAN card. However, you will still be hit by Rs 2,000. Please tell that if you are not able to file your ITR till 31 July 2023, then you can file your late ITR till 31 December 2023.
