Last Update: December 27, 2022, 10:30 AM IST
The last date for Aadhaar-PAN linking is March 31, 2023. (Photo: shutterstock)
Aadhaar card and PAN card are the two most important identification documents that one must have in order to conduct bank transactions seamlessly
Aadhaar Card and PAN Card are the two most important identification documents required to conduct any bank transaction seamlessly. The Government of India made it mandatory for all its citizens to link their PAN card and Aadhaar card a few years ago and is now extending the deadline several times. This will not happen after March 31 next year.
The Income Tax Department had issued an advisory on December 24 that Permanent Account Numbers (PANs) which are not yet linked with their Aadhaar by the end of March 2023 will be treated as “inoperative”. Originally set to expire on March 31, 2020. PAN-Aadhaar linkage has been extended by the Center till March 31, 2023.
As per Income-tax Act, 1961, it is mandatory for all PAN holders, who do not fall under the exempt category, to link their PAN with Aadhaar before 31.3.2023.
From 1.04.2023, the unlinked PAN shall become inoperative.
What is mandatory, is necessary. Don’t delay, link it today! pic.twitter.com/eJmWNghXW6— Income Tax India (@IncomeTaxIndia) December 24, 2022
The advisory states, “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. April 1 From 2023, unlinked PAN will become inactive. What is mandatory is essential. Don’t delay, link it today!”
The Central Board of Direct Taxes (CBDT), which sets policy for the income tax department, has said in a circular that in case a PAN becomes inoperative on March 30, a person will be liable for all consequences under the IT Act and will have to settle the same. Will happen. With multiple repercussions including not being able to file IT returns and not processing any outstanding returns, among other things.
According to a notification issued by the Union Ministry of Finance in May 2017, the “exempted category” includes people who live in the states of Assam, Jammu and Kashmir and Meghalaya; who are deemed to be non-residents under the Income Tax Act, 1961; Who was of the age of 80 years or more at any time in the previous year and who is not an Indian citizen.
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