The government has collected over Rs 600 crore as penalty for delay in linking PAN with Aadhaar and about Rs 11.48 crore of permanent account numbers are still not linked to biometric identities, Parliament was informed on Monday.
“As on January 29, 2024, the number of PANs not related to Aadhaar (excluding exempt categories) was Rs 11.48 crore,” Finance Minister Pankaj Chaudhary said in a written reply in the Lok Sabha.
The last date to link PAN with biometric Aadhaar is June 30, 2023. If an individual fails to link his Aadhaar and PAN by June 30, 2023, and wants to link later, he can link after paying the penalty.
When asked about the details of the revenue the government is earning by imposing a late fee of Rs 1,000 on people who have not linked PAN and Aadhaar after the last date of June 30, 2023, Chaudhary said: “People who have not linked PAN and Aadhaar The total fee charged to link their PAN with Aadhaar from July 1, 2023 to January 31, 2024 is Rs 60,197 crore.”
The Income Tax Department said that the PAN of taxpayers who fail to inform their Aadhaar will become invalid from July 1, 2023 and no refund will be given for such PAN. Additionally, TDS and TCS will be deducted/charged at a higher rate.
Paying a late fee of Rs 1,000 will make the PAN valid again.
(with PTI input)
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