New Delhi: In a bid to provide tax relief to taxpayers, the Income Tax department extended the deadline penalty on TDS for those who failed to link PAN with Aadhaar by June 30, 2023. Under the relaxation rpovided by tax authorities, if taxpayers link their PAN to Aadhaar by May 31, 2024.

The Income Tax department has made it mandatory for tax authorities to ensure one PAN per person and reduce duplication of PAN. If an individual’s PAN is not linked to Aadhaar, their TDS deduction will be double the usual rate.

The Central Board of Direct Taxes (CBDT) in an April 24 circular took the decision to extend the deadline after “several grievances have been received from taxpayers.” In some cases, the PANs of deductor and collectee have turned inoperative which led to tax dermand notice for under-collection of TDS. These cases have been provided relief through the deadline extension.

If you have failed to link your Aadhaar and PAN, do so at the earliest to avoid unnecessary money loss. As stated above the I-T department has made it mandatory for double TDS to be collected from those who are in non-compliance with this rule. Here’s what happens if you don’t comply:

Follow these steps to link your PAN and Aadhaar:

QOSHE - Failed to link PAN-Aadhaar? Income Tax department extends last date for double TDS to May 31 - Ishaan Mittal
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Failed to link PAN-Aadhaar? Income Tax department extends last date for double TDS to May 31

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27.04.2024

New Delhi: In a bid to provide tax relief to taxpayers, the Income Tax department extended the deadline penalty on TDS for those who failed to link PAN with Aadhaar by June 30, 2023. Under the relaxation rpovided by tax authorities, if taxpayers link their PAN to Aadhaar by May 31, 2024.

The Income........

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