PAN card becomes inactive as per new rule 114AAA

[Legatobs Business]

As per the above subject PAN card became inactive on 01-July-2023 and it will remain inactive till you link PAN with Aadhaar card. This is applicable for those who have made their PAN card till 1st July 2017. The first date of linking was 31st March 2022, till this date we used to link Aadhaar PAN for free, after that till 30th June 2022 the fee was Rs 500, now the fee is Rs 1000 and the date this was 30th June 2023. Later the PAN card was deactivated and the fee was kept at Rs 1000 only.

 According to the things written above, you can link your PAN card with an Aadhaar card, the fee for which is Rs 1000, which you have to pay by going to the Income Tax website and it is paid in the same year in which we linking and its payment is done through head another receipt 500, it takes 48 hours to link it.

 So, all of you are informed that if both your PAN and Aadhaar are not linked, i.e. your PAN is not linked to Aadhaar, then 20% TDS applies to you. It is effective from 01-07-2023 and unless you link PAN with Aadhaar, 20% TDS will be deducted from your Income. The TDS slab will apply to you from the day when you link it.