Date for linking PAN-Aadhaar extended: Check new date

By
vipulpatil40
-
0
27
Date for linking PAN-Aadhaar extended: Check new date


Image Source : FILE PHOTO Representational picture

PAN-Aadhaar Linking: In order to offer some extra time to the taxpayers, the date for linking PAN and Aadhaar has been prolonged to June 30, 2023, whereby individuals can intimate their Aadhaar to the prescribed authority for PAN-Aadhaar linking with out going through repercussions, the Income Tax division knowledgeable on Tuesday. 

From July 1, 2023, the unlinked PAN shall change into inoperative with penalties. The PAN could be made operative once more in 30 days, upon intimation of Aadhaar to the prescribed authority after cost of charge of Rs. 1,000, the division mentioned.

Under the provisions of the Income-tax Act, 1961(the ‘Act’) each one who has been allotted a PAN as on July 1, 2017 and is eligible to acquire Aadhaar Number, is required to intimate his Aadhaar to the prescribed authority on or earlier than March 31, 2023, on cost of a prescribed charge.

Failure to take action shall entice sure repercussions below the Act w.e.f. April 1, 2023. The date for intimating Aadhaar to the prescribed authority for the aim of linking PAN and Aadhaar has now been prolonged to June 30, 2023.

From July 1, 2023, the PAN of taxpayers who’ve did not intimate their Aadhaar, as required, shall change into inoperative and the results through the interval that PAN stays inoperative might be as follows:

  1. No refund shall be made in opposition to such PANs.

  2. Interest shall not be payable on such refund for the interval throughout which PAN stays inoperative.

  3. TDS and TCS shall be deducted /collected at increased fee, as supplied within the Act.

  4. The PAN could be made operative once more in 30 days, upon intimation of Aadhaar to the prescribed authority after cost of charge of Rs.1,000.

Those individuals who’ve been exempted from PAN-Aadhaar linking is not going to be liable to the results talked about above. This class contains these residing in specified States, a non-resident as per the Act, a person who shouldn’t be a citizen of India or people of the age of eighty years or extra at any time through the earlier 12 months.

It is said that greater than 51 crore PANs have already been linked with Aadhaar until date. PAN could be linked with Aadhaar by accessing this hyperlink.

Latest Business News





Source hyperlink