DELHI: The government has extended the deadline to link Permanent Account Number (PAN) with Aadhaar to June 30, 2023, the Ministry of Finance informed in a release on Tuesday.
Earlier the deadline to link PAN with Aadhaar was March 31, 2023.
According to Sub-section (2) of section 139AA to Income-tax Act 1961, it is mandatory for every person who has been allotted a PAN as on 1st July, 2017 to intimate his Aadhaar Number so that the Aadhaar and PAN can be linked.
After several extensions, the government notified June 30, 2023, as the last date to link PAN with Aadhaar.
From July 1, 2023, the PAN of taxpayers who have failed to intimate their Aadhaar, as required, shall become inoperative. However, the PAN can be made operative again in 30 days, upon intimation of Aadhaar to the prescribed authority after payment of a fee of Rs 1,000, the ministry stated.
According to the Finance Ministry, individuals whose PAN will become inoperative: will not get any refund 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 at higher rate, as provided in the Act.
As of March 28, more than 51 crore PANs have already been linked with Aadhaar, the Ministry of Finance stated.