SHORT ANSWER:
The fine for not linking Aadhaar with PAN is ₹1,000.
DETAILS:
- As per the Income Tax Act, if an individual fails to link their Aadhaar number with their PAN, they may be liable to pay a penalty.
- The deadline for linking Aadhaar and PAN has been extended multiple times, but failure to link may result in the PAN becoming inoperative.
PUNISHMENT / IMPLICATIONS (if applicable):
- Inoperative PAN may lead to difficulties in filing income tax returns and conducting financial transactions.
SOURCE:
- Income Tax Act, 1961
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