CBDT clarifies on PAN-Aadhar link
CBDT clarifies on PAN-Aadhar link It is imperative to connect the two numbers for smooth operations The Central Board of Direct Taxes (CBDT) has clarified that before 31 March 2023 the Permanent Account Number (PAN) will not be inoperative if not linked with Aadhaar Card. Under the provisions of the Income Tax Act, 1961, every person who has been allotted a PAN as of 1 July 2017 and...
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CBDT clarifies on PAN-Aadhar link
It is imperative to connect the two numbers for smooth operations
The Central Board of Direct Taxes (CBDT) has clarified that before 31 March 2023 the Permanent Account Number (PAN) will not be inoperative if not linked with Aadhaar Card.
Under the provisions of the Income Tax Act, 1961, every person who has been allotted a PAN as of 1 July 2017 and is eligible to obtain an Aadhaar Number, is required to intimate his number to the prescribed authority on or before 31 March 2022.
On failure to do so, the person's PAN Card shall become inoperative. Also, all procedures in which PAN is required shall be halted. It would be operative again only upon intimation of the Aadhaar Number to the concerned authority. The person would also have to pay a fee of Rs.500 up to three months from 1 April 2022 and a fee of Rs.1000 thereafter.
However, under the IT Act, the PAN of the assessee who has not intimated his Aadhaar Number will continue to be functional for the procedures until 31 March 2023.
