CBDT EXTENDS THE DATE OF LINKING PAN WITH AADHAR TILL 30TH JUNE 2023

 CBDT has extended the deadline to link PAN with Aadhaar for the fifth time on Tuesday.

Date for linking PAN and Aadhaar has been extended to 30th June 2023 with fee Rs 1000

After 30^th June 2023: Non-filing of return will attract a penalty up to Rs 10,000

Link to check whether your PAN is Link with Aadhar :https://eportal.incometax.gov.in/iec/foservices/#/pre-login/bl-link-aadhaar

Consequences of Non-Linking of PAN with Aadhar:

“Inoperative” PAN – If a person fails to link Aadhar with PAN then such PAN is marked as inoperative/Invalid after June 30, 2023.

Other Penalties & consequences- 

Once PAN become inoperative/invalid person will become liable under various other provisions of Act as below:

·         Non filing Return of Income-Taxpayers will not be allowed to furnish the return of income before linking. Non-filing of return will attract a penalty up to Rs 10,000/- U/s 234F of Income Tax Act 1961.

·         Non-Compliance of Section 139A– It is mandatory to quote PAN for certain financial transactions as per section 139A.

·         If the PAN is not linked it will become inoperative/invalid and this would result in non-compliance with the provisions of Section 139A which would attract a penalty up to Rs 10,000/- u/s 272B.

·         Interest for late filing of Return of Income – Taxpayers will not be allowed to furnish the return of income before linking. Defaults in furnishing return will attract interest u/s 234A, 234B, and 234C.

·         Higher TDS – TDS would be deducted at a higher rate if the PAN is not furnished by the payee U/s 206AA of the Income Tax Act.

·         Higher TCS –  TCS would be collected at a higher rate U/s 206CC if the PAN is not furnished Can Inoperative

PAN become again Operative? YES. The PAN can be made operative by linking it with Aadhaar on payment of prescribed fee /penalty. PAN will again become operative from the date of linking/intimation of the Aadhaar Number. But the penalty/fees u/s 234H shall be levied when the person will link/intimate the Aadhar after it becomes inoperative

Following categories are exempted from Aadhaar-PAN linking

(i) NRIs

(ii) Not a citizen of India

(iii) age > 80 years as on date

(iv) state of residence is ASSAM, MEGHALAYA or JAMMU & KASHMIR