Income tax department has made an announcement on it’s twitter handle that all PAN which are not linked with Aadhar till 31.03.2023 will become inoperative.
To twitter message of Income tax department read as under:
“As per Income-tax Act, 1961, the last date for linking PAN with Aadhaar is 31.3.2023, for all PAN holders who do not fall under the exempt category, failing which the unlinked PAN shall become inoperative. Don’t delay, link today!”
However, those assessee who are exempt as per notification no. 37/2017 issued by Income tax department would not be required to link PAN and Aadhar. The list of persons exempt under notification no. 37/2017 are as under:
“In exercise of the powers conferred by sub-section (3) of section 139AA of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies that the provisions of section 139AA shall not apply to an individual who does not possess the Aadhaar number or the Enrolment ID and is:-
(i) residing in the States of Assam, Jammu and Kashmir and Meghalaya;
(ii) a non-resident as per the Income-tax Act, 1961;
(iii) of the age of eighty years or more at any time during the previous year;
(iv) not a citizen of India.”
Also, after June 2022, Income tax department has made it mandatory to pay a late fee of Rs. 1000 those who wish to Link PAN and Aadhar. Hence, people should pay Rs. 1000 and link PAN and Aadhar upto 31.03.2023 or else the PAN will become inoperative.
To read how to pay late fees and link PAN and Aadhar CLICK ME.
If the PAN becomes inoperative, assessee might face issue like: non-availability of credit of TDS deducted during the year, not able to file income tax return, TDS getting deducted at higher rate etc. Thus, it is advisable to link PAN and Aadhar within due time.
Although Income tax department has made PAN and aadhar interchangeable, however it is still advisable to link PAN and Aadhar as Aadhar is still not acceptable at all places as a replacement of PAN.
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