The Finance Ministry has extended the last date to link Permanent Account Number (PAN) and Aadhaar by three months from March 31 to June 30, 2023. In a statement, the Ministry said that persons can intimate their Aadhaar to the prescribed authority for Aadhaar-PAN linking without facing repercussions by the end of June.
According to the earlier directive, failure to link PAN and Aadhaar by March 31 would have attracted several repercussions, including the PAN becoming inoperative. With the extension, one can get them linked before June 30.
“From 1st July, 2023, the PAN of taxpayers who have failed to intimate their Aadhaar, as required, shall become inoperative,” read the statement.
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The consequences during the period that PAN remains inoperative are: (i) no refund shall be made against such PANs; (ii) interest shall not be payable on such refund for the period during which PAN remains inoperative; and (iii) TDS and TCS shall be deducted /collected at higher rate, as provided in the Act.
The PAN can be made operative again in 30 days, upon intimation of Aadhaar to the prescribed authority after payment of fee of ₹1,000.
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The Ministry added that those persons who have been exempted from PAN-Aadhaar linking will not be liable to the consequences.
More than 51 crore PANs have been linked with Aadhaar, as per Ministry data. The process can be done on the Income Tax website.