Deadline To Link PAN-Aadhaar Extended To June 30
PAN cards which are not linked with Aadhaar within the new deadline will become inoperative.
The deadline for linking PAN and Aadhaar has been extended till June 30, 2023, the Central Board of Direct Taxes said on Tuesday.
The previous deadline was March 31, 2023.
From July 1, 2023, an unlinked PAN will become inoperative with consequences, the CBDT said in a tweet. However, in such a scenario, a person can make their PAN operative again in 30 days, after intimating the Aadhaar number to authorities and paying a fine of Rs 1,000.
A taxpayer who fails to link their PAN with Aadhaar within the new deadline will face the following consequences:
No tax refunds will be made against such PANs.
Interest shall not be payable on such refund for the period during which the PAN remains inoperative.
Tax Deducted at Source and Tax Collected at Source shall be deducted/collected at a higher rate, under provisions of the Income Tax Act.
Persons who have been exempted from PAN-Aadhaar linking will not be liable to the consequences mentioned above. This category includes those residing in specified states, a non-resident according to the IT Act, an individual who is not a citizen of India or individuals aged 80 or more, at any time during the previous year.
More than 51 crore PANs have already been linked with Aadhaar till date, the department said.