PAN-Aadhaar link: If not linked with Aadhaar, PAN will become inoperative from July 1, 2023.
PAN-Aadhaar link news: The Centre once again has extended the deadline for linking PAN with Aadhaar by three months. The Income Tax department said that PAN card holders can now link the two documents by June 30, 2023. If not linked with Aadhaar, PAN will become inoperative from July 1, 2023.
The consequences during the period that PAN remains inoperative will include no refund against such PANs, no interest shall not be payable, and TDS and TCS shall be deducted /collected at a higher rate. But who needs to link PAN-Aadhaar?
According to section 139AA of the Income Tax (IT) Act, every individual who has been allotted a permanent account number (PAN) as on July 1, 2017, and who is eligible to obtain an Aadhaar number, is required to link his/her PAN and Aadhaar on or before June 30, 2023, on payment of a prescribed fee of Rs 1,000.
Those 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 as per the Act, an individual who is not a citizen of India or individuals of the age of eighty years or more at any time during the previous year.
PAN can be linked with Aadhaar on the Income Tax website. Direct link HERE. One can also link the two documents through SMS. Step 1: Just write UIDPAN (space), 12-digit Aadhaar number (space), 10-digit PAN number.
Step 2: The SMS must only be sent to the numbers 567678 or 56161 from your registered phone number. Step 3: You will receive a confirmation message after your PAN and Aadhaar cards are linked.
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