Aadhaar Pan Link: Aadhaar and PAN card are very important documents. Instructions are given by the government to link them, but now the Income Tax Department has issued a deadline to link Aadhaar-PAN. If you have not linked PAN Aadhaar then your PAN card will be inactive.
New Delhi: Aadhaar Pan Link: Aadhaar and PAN card are very important documents. Instructions are given by the government to link them, but now the Income Tax Department has issued a deadline to link Aadhaar-PAN. If you have not linked PAN Aadhaar then your PAN card will be inactive.
In fact, the Income Tax Department issued an advisory on Saturday saying that Permanent Account Number (PAN) not linked to Aadhaar number will be declared ‘inoperative’ by March next year.
…then PAN will become inactive from April 1,
according to an advisory issued by the Income Tax Department, ‘For all PAN holders except those who fall in the exempted category as per the Income Tax Act, 1961, register your PAN before March 31, 2023. It is mandatory to link with Aadhaar. PAN cards not linked to Aadhaar will become inactive from April 1, 2023.
Giving advice to taxpayers to link PAN with Aadhaar soon, the department said, ‘What is mandatory is necessary. Don’t delay, join today!’
Know who is exempted
According to a notification issued by the Ministry of Finance in May 2017, the ‘exemption category’ includes residents of the states of Assam, Jammu and Kashmir and Meghalaya. Apart from this, non-resident Indians and people above 80 years of age are also included in the exemption category.
Consequences to be borne by himself: CBDT
The Central Board of Direct Taxes (CBDT), in a circular dated March 30, had said that once the PAN becomes inoperative, a person would be responsible for all the consequences under the Income Tax Act and would be liable to pay several Will have to face the consequences.
Will not be able to file income tax return
As per this circular, income tax return cannot be filed using inoperative PAN, pending cases will not be processed. Refund pending from inoperative PAN cannot be issued. Defective returns cannot be rectified and will be taxed at the higher rate. The circular states that the taxpayer may also face difficulty at banks and other financial forums.
