<p>The government on Tuesday extended the deadline to link the Permanent Account Number (PAN) with Aadhaar by three months to June 30, 2023.<br /><br />PAN cards which are not linked with Aadhaar will become inoperative from July 1. Also, there is a Rs 1,000 penalty applicable for linking PAN with Aadhaar. The last date for linking PAN with Aadhaar without penalty was March 31, 2022.<br /><br />As per a notification issued by the Central Board of Direct Taxes (CBDT), PAN of taxpayers who fail to link it with their Aadhaar number will become inoperative from July 1, 2023.</p>.<p>The failure to link PAN with Aadhaar by June 30 will attract certain repercussions: No refund shall be made against such PANs, interest shall not be payable on such refund for the period during which PAN remains inoperative; and TDS (tax deducted at source) and TCS (tax collected at source) shall be deducted /collected at higher rates, according to a statement issued by the finance ministry.</p>.<p>However, even after June 30, 2023 deadline, the PAN can be made operative again in 30 days, upon intimation of Aadhaar to the prescribed authority after payment of Rs 1,000 fine.</p>.<p>Some categories of individuals have been exempted from PAN-Aadhaar linkage, and thus they will not be liable to the consequences.</p>.<p>Person who are exempted from PAN-Aadhaar linkage requirements include individuals residing in the states/UTs of Assam, Jammu and Kashmir, and Meghalaya; a non-resident as per the Income-tax Act, 1961,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.</p>.<p>According to the government data, over 51 crore PANs have already been linked with Aadhaar.</p>.<p>Aadhaar-PAN linking was free till 31st March 2022. Those who linked their PAN with Aadhaar between 1st April 2022 and 30th June 2022, paid a penalty of Rs 500. From 1st July 2022 the penalty amount has been increased to Rs 1,000.</p>.<p>Under the provisions of the Income Tax Act, 1961 every person who has been allotted a PAN as on 1st July, 2017 and is eligible to obtain an Aadhaar Number, is required to intimate his/her Aadhaar to the prescribed authority, the finance ministry said.</p>
<p>The government on Tuesday extended the deadline to link the Permanent Account Number (PAN) with Aadhaar by three months to June 30, 2023.<br /><br />PAN cards which are not linked with Aadhaar will become inoperative from July 1. Also, there is a Rs 1,000 penalty applicable for linking PAN with Aadhaar. The last date for linking PAN with Aadhaar without penalty was March 31, 2022.<br /><br />As per a notification issued by the Central Board of Direct Taxes (CBDT), PAN of taxpayers who fail to link it with their Aadhaar number will become inoperative from July 1, 2023.</p>.<p>The failure to link PAN with Aadhaar by June 30 will attract certain repercussions: No refund shall be made against such PANs, interest shall not be payable on such refund for the period during which PAN remains inoperative; and TDS (tax deducted at source) and TCS (tax collected at source) shall be deducted /collected at higher rates, according to a statement issued by the finance ministry.</p>.<p>However, even after June 30, 2023 deadline, the PAN can be made operative again in 30 days, upon intimation of Aadhaar to the prescribed authority after payment of Rs 1,000 fine.</p>.<p>Some categories of individuals have been exempted from PAN-Aadhaar linkage, and thus they will not be liable to the consequences.</p>.<p>Person who are exempted from PAN-Aadhaar linkage requirements include individuals residing in the states/UTs of Assam, Jammu and Kashmir, and Meghalaya; a non-resident as per the Income-tax Act, 1961,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.</p>.<p>According to the government data, over 51 crore PANs have already been linked with Aadhaar.</p>.<p>Aadhaar-PAN linking was free till 31st March 2022. Those who linked their PAN with Aadhaar between 1st April 2022 and 30th June 2022, paid a penalty of Rs 500. From 1st July 2022 the penalty amount has been increased to Rs 1,000.</p>.<p>Under the provisions of the Income Tax Act, 1961 every person who has been allotted a PAN as on 1st July, 2017 and is eligible to obtain an Aadhaar Number, is required to intimate his/her Aadhaar to the prescribed authority, the finance ministry said.</p>