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PAN not linked with Aadhaar by end of March 2023 to be rendered inoperative, says IT Department

India

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New
Delhi,
Dec
24:

The
Income
Tax
department
Saturday
issued
an
advisory
that
those
permanent
account
numbers
(PAN)
which
are
not
linked
with
Aadhaar
by
the
end
of
March
next
year
will
be
rendered
“inoperative”.

“What
is
mandatory,
is
necessary.
Don’t
delay,
link
it
today!”
the
department
said
in
a
public
advisory.
“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.
From
1.04.2023,
the
unlinked
PAN
shall
become
inoperative,”
it
said.

PAN not linked with Aadhaar by end of March 2023 to be rendered inoperative, says IT Department

The
‘exempt
category’,
according
to
a
notification
issued
by
the
Union
Finance
Ministry
in
May
2017,
are
those
individuals
residing
in
the
states
of
Assam,
Jammu
and
Kashmir
and
Meghalaya;
a
non-resident
as
per
the
Income-tax
Act,
1961;
of
the
age
of
80
years
or
more
at
any
time
during
the
previous
year
and
a
person
not
a
citizen
of
India.

Your PAN card may become inactive from this date if not linked to AadhaarYour
PAN
card
may
become
inactive
from
this
date
if
not
linked
to
Aadhaar

A
circular
issued
by
the
Central
Board
of
Direct
Taxes
(CBDT)
on
March
30
said
once
a
PAN
becomes
inoperative,
an
individual
shall
be
liable
to
all
the
consequences
under
the
I-T
Act
and
will
have
to
suffer
a
number
of
implications.

The
person
shall
not
be
able
to
file
I-T
return
using
the
inoperative
PAN;
pending
returns
will
not
be
processed;
pending
refunds
cannot
be
issued
to
inoperative
PANs;
pending
proceedings
as
in
the
case
of
defective
returns
cannot
be
completed
once
the
PAN
is
inoperative
and
tax
will
be
required
to
be
deducted
at
a
higher
rate.

“In
addition
to
the
above,
the
taxpayer
might
face
difficulty
at
various
other
fora
like
banks
and
other
financial
portals
as
PAN
is
one
of
the
important
KYC
(know
your
customer)
criterion
for
all
kinds
of
financial
transaction,”
the
circular
said.

Those not linking Aadhaar with election card won't be struck off voters' list: GovtThose
not
linking
Aadhaar
with
election
card
won’t
be
struck
off
voters’
list:
Govt

The
CBDT
frames
policy
for
the
Income
Tax
department.
While
Aadhaar
is
issued
by
the
Unique
Identification
Authority
of
India
to
a
resident
of
India,
PAN
is
a
10-digit
alphanumeric
number
allotted
by
the
IT
Department
to
a
person,
firm
or
entity.

Story first published: Saturday, December 24, 2022, 15:58 [IST]

#PAN #linked #Aadhaar #March #rendered #inoperative #Department

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