New Delhi: The central government has extended the deadline for linking the BAS card and PAN card till June 30 and has given time to the people for this. This decision of the Center has given relief to crores of people. The Central Board of Directors of Taxes (CBTT) is charging a late fee of Rs 1,000 for linking PAN with Aadhaar after June 30, 2022. The Income Tax Department said that as per the Income Tax Act, 1961, the last date for linking PAN with Aadhaar for all PAN holders, who do not fall under the exempted category, was March 31, 2023, which has now been extended to June 30, 2023. If the PAN is not linked with Aadhaar, the PAN card will become inactive, so things like opening a mutual fund or stock account will not be allowed. Apart from this, if you use this PAN card as a document anywhere, you may be fined heavily. Under Section 272B of the Income Tax Act, 1961, you can be fined up to Rs 10,000.
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