Last date for linking of PAN-Aadhaar extended to June 30; How to check status & pay penalty, details here.
In order to provide some more time to the taxpayers, the date for linking PAN and Aadhaar has been extended to June 30, 2023. Linking the PAN card with the Aadhaar Card is an important task and an Indian citizen needs to complete this task before the deadline. According to the Income Tax Department if the PAN is not linked with Aadhaar then PAN will become inoperative. From 1st July, 2023, the PAN of taxpayers who have failed to intimate their Aadhaar, as required, shall become inoperative and the consequences during the period that PAN remains inoperative will be as follows:
No refund shall be made against such PANs, Interest shall not be payable on such refund for the period during which PAN remains inoperative, TDS and TCS shall be deducted /collected at higher rate, as provided in the Act, The PAN can be made operative again in 30 days, upon intimation of Aadhaar to the prescribed authority after payment of fee of Rs.1,000. Why is Important to link Aadhar with PAN Card The Income-tax Department announced the linking of PAN with Aadhaar after it came across instances where multiple permanent account numbers (PANs) were allotted to one person, or where one PAN was allotted to more than one person. To have a robust way of de-duplication of the PAN database, it was made mandatory for a taxpayer who is eligible to obtain Aadhaar, to quote his Aadhaar in the application form for PAN and return of income. As per Income-tax Act, 1961, it is mandatory for all PAN holders, who do not fall under the exempt category, to link their PAN with Aadhaar before 31.3.2023. Non-Residents Indians (NRIs), citizens aged above 80 years, and residents of Assam, Meghalaya and Jammu and Kashmir need not link their Aadhaar with PAN cards since they come under the exempt category.
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