To provide more time to taxpayers, the government on Tuesday (March 28) extended the deadline for linking PAN and Aadhaar by three months to June 30, 2023, according to an official statement.
March 31 was the earlier deadline. Persons can intimate their Aadhaar to the prescribed authority for Aadhaar-PAN linking without facing repercussions, it added.
Also read: Things to do before March 31: PAN-Aadhaar linking, MF nomination, and more
Under the provisions of the Income-tax Act, 1961, every person who has been allotted a PAN as on July 1, 2017, and is eligible to obtain Aadhaar Number, is required to intimate his Aadhaar to the prescribed authority on or before March 31, 2023, on payment of a prescribed fee.
“Failure to do so shall attract certain repercussions under the Income Tax Act w.e.f. April 1, 2023. The date for intimating Aadhaar to the prescribed authority for the purpose of linking Aadhaar and PAN has now been extended to June 30, 2023,” it said.
According to the press release issued by the ministry of finance, from July 1, 2023, the PAN of taxpayers who have failed to intimate their Aadhaar, as required, shall become inoperative. The consequences during the period that PAN remains inoperative will be as follows, said the statement:
No refund shall be made against such PANs; interest shall not be payable on such refund for the period during which PAN remains inoperative and TDs and TCS shall be deducted/collected a higher rate, as provided in the ACT.
It is stated that more than 51 crore PANs have already been linked with Aadhaar till date.