The last date for linking PAN and Aadhaar has been extended from 31st March to 30th June 2023 by the Central Government. Under the provision of the Income Tax Act, every person who has been allotted a PAN as on 1st July 2017 and is eligible to obtain Aadhaar Number, is required to intimate their Aadhaar to the prescribed authority on or before 31st March on payment of a prescribed fee. This...
The last date for linking PAN and Aadhaar has been extended from 31st March to 30th June 2023 by the Central Government.
Under the provision of the Income Tax Act, every person who has been allotted a PAN as on 1st July 2017 and is eligible to obtain Aadhaar Number, is required to intimate their Aadhaar to the prescribed authority on or before 31st March on payment of a prescribed fee. This date has now been extended to 30th June in order to provide some more time to the taxpayers for Aadhaar-PAN linking without facing repercussions, the Press Release issued by the Central Board of Direct Taxes (CBDT) read.
From 1st July 2023, the PAN of taxpayers who have failed to intimate their Aadhaar, shall become inoperative and the consequences during the period that PAN remains inoperative include:
(i) No refund shall be made against such PANs
(ii) Interest shall not be payable on such refund for the period during which PAN remains inoperative
(iii) TDS and TCS shall be deducted or 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 Rs 1000 as fee.
According to CBDT, more than 51 crores PANs have already been linked to Aadhaar to date.