Central Board of Direct Taxes (CBDT) has announced a new extension in the deadline for linking PAN and Aadhaar. This announcement comes as a relief to taxpayers who were worried about the repercussions they would face if they were unable to complete the process on time.
As per the provisions of the Income-tax Act, 1961, individuals who were allotted a PAN on or before 1st July, 2017 and are eligible to obtain an Aadhaar number, were required to link their PAN and Aadhaar by 31st March, 2023. Failure to do so would have resulted in certain repercussions under the Act from 1st April, 2023.
However, the government has now extended the deadline for linking PAN and Aadhaar to 30th June, 2023, providing taxpayers with more time to complete the process without facing any consequences.
From 1st July, 2023, the PAN of taxpayers who have failed to intimate their Aadhaar, as required, shall become inoperative.
The PAN can be made operative again in 30 days, upon intimation of Aadhaar to the prescribed authority after payment of fee of Rs.1,000.
Recommended : What happens if you fail to link Aadhaar with PAN?
This Article was authored by Tushant a passionate blogger by .
Co-founded Tax Ninja with the aim to serve knowledge digitally.
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