PAN-Aadhaar linking deadline ends, but here's a good and a bad news
Zee News
As per a circular issued by CBDT on Wednesday, PAN, not linked to Aadhaar, would become "inoperative" after March 31, 2023.
New Delhi: The Central Board of Direct Taxes (CBDT), which is the apex decision making body on direct taxes, had in the past extended the deadline for linking Permanent Account Number (PAN) with Aadhaar several times and the last date --March 31, 2022 --to do so is over now.
However, here's a good and a bad news related to the linking of PAN Card with Aadhaar card. As per a circular issued by CBDT on Wednesday, PAN, not linked to Aadhaar, would become "inoperative" after March 31, 2023. This means that you can still use your PAN card for a year now.
The Income Tax Department has said that non-linking of PAN with Aadhaar by March 31 would attract penalty of up to Rs 1,000, but such PAN will remain functional for one more year till March 2023, for filing ITR, claiming refunds and other I-T procedures.
Now, the bad news is that those taxpayers who link their PAN with biometric Aadhaar by June 30, 2022, would be required to pay late fees of Rs 500. Beyond that, the penalty would rise to Rs 1,000.
In order to mitigate the inconvenience to taxpayers, as per notification dated March 29, 2022, a window of opportunity has been provided to taxpayers up to March 31, 2023 to intimate their Aadhaar to the prescribed authority for Aadhaar-PAN linking without facing repercussions, the CBDT said, adding such intimation would have to be accompanied by late fees.
