Govt extends deadline to link PAN with Aadhaar till June 30
Failure to link PAN with Aadhaar by June 30, 2023, will result in PAN becoming inoperative, and attract adverse repercussions for taxpayers.
Published: 29th March 2023 10:20 AM | Last Updated: 29th March 2023 10:20 AM | A+A A-
Image used for representational purposes only. (File Photo)
NEW DELHI: The government has extended the last date for linking PAN with Aadhaar from March 31, 2023, to June 30, 2023. It is mandatory under the provisions of Income Tax law for every person who has been allotted a PAN as of July 1, 2017, to link their PAN with Aadhaar number, given that the person is eligible to obtain Aadhaar.
Failure to link PAN with Aadhaar by June 30, 2023, will result in PAN becoming inoperative, and attract adverse repercussions for taxpayers. An inoperative PAN means, one cannot get income tax refunds as well as receive interest payable on such refund for the period during which PAN remains inoperative.
If one fails to furnish PAN then s/he will be subject to higher Tax Deducted at Source (TDS) or Tax Collected at Source (TCS). If one fails to furnish PAN, TDS and TCS is collected twice the normal rate.
In case one fails to link PAN with Aadhaar, and the PAN becomes inoperative, it can be restored in 30 days, upon intimation of Aadhaar to the prescribed authority after payment of fee of Rs 1,000.
