edited by: Mohammad Haris
Last Update: December 24, 2022, 19:26 IST
The last date for Aadhaar-PAN linking is March 31, 2023. (Photo: shutterstock)
People will not be able to file income tax return using inoperative PAN and pending returns will not be processed
PAN-Aadhaar Linking: The Income Tax Department on Saturday said it is mandatory to link Permanent Account Number (PAN) with Aadhaar before March 31, 2023. wok Will be inactive from April 1, 2023.
“As per the Income Tax Act, 1961, it is mandatory for all PAN holders who do not fall in the exempted category to link their PAN with Aadhaar before March 31, 2023. From April 1, 2023, unlinked PAN will become inoperative. What is essential is necessary. Don’t delay, link it today!” the Income Tax Department said in a tweet on Saturday.
As per the Income Tax Act, 1961, it is mandatory for all PAN holders, who do not fall in the exempted category, to link their PAN with Aadhaar before 31.3.2023. With effect from 1.04.2023, unlinked PAN will become inoperative. What is essential is essential. Don’t delay, link today! pic.twitter.com/eJmWNghXW6– Income tax India (@IncomeTaxIndia) December 24, 2022
The Income Tax Department has also urged all PAN holders, who are not covered under the exempted category as per Notification No. 37/2017, dated 11th May, 2017 and who have not yet linked their Aadhaar with PAN, to That they do so immediately. PAN can be linked with valid Aadhaar at www.incometax.gov.in by paying a fee of Rs.1000.
As per a notification issued by the Union Ministry of Finance in May 2017, the ‘exempted category’ are persons residing in the states of Assam, Jammu and Kashmir and Meghalaya; a non-resident as per the Income-tax Act, 1961; A person of the age of 80 years or more and not being a citizen of India at any time during the previous year.
The Income Tax Department mentions on its website that “CBDT has extended the deadline for linking Aadhaar with PAN from 31st March 2022 to 31st March 2023. You can link Aadhaar with PAN till 31st March 2023. Will be required to pay a fee of Rs.500 till 30th June 2022 and a fee of Rs.1000 from 1st July 2022.
After April 1, 2023, the individual will not be able to file IT returns using an inoperative PAN; Pending returns will not be processed; Refund pending for inoperative PAN cannot be issued; In case of defective returns, the pending proceedings cannot be completed after PAN has been deactivated and tax will be required to be deducted at the higher rate.
The circular states, “Apart from the above, the taxpayer may face difficulty at various other fora such as banks and other financial portals as PAN is one of the important KYC (Know Your Customer) criteria for all types of financial transactions.” There is one.”
The CBDT formulates policy for the Income Tax Department.
While Aadhaar is issued by the Unique Identification Authority of India to a resident of India, PAN is a 10-digit alphanumeric number allotted by the IT department to an individual, firm or entity.
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