Sunday, August 14th, 2022 14:44:51

Deadline to link PAN with Aadhaar ends today; Defaulters to attract Rs 1,000 fine

Updated: March 31, 2022 12:28 pm

The deadline to link a permanent account number (PAN) with Aadhaar will end today. Default will invite a penalty of 1,000 rupees. A CBDT notification said that non-linking of PAN with Aadhaar will lead to PAN becoming inoperative. It can be re-operationalised on payment of penalty. As per the Income Tax Act, it is mandatory for all users to link PAN with their Aadhaar number, or else the PAN will become inoperative from March 31, next year.

This would mean that users will not be able to conduct transactions where quoting PAN is mandatory. For people who miss the deadline, PAN will remain functional for 1 more year till March 2023, for filing ITR, claiming refunds, and other I-T procedures. In order to mitigate the inconvenience to taxpayers, a window of opportunity has been provided to taxpayers up to March 31, 2023, to intimate their Aadhaar to the prescribed authority for Aadhaar-PAN linking without facing repercussions. The CBDT said such intimation would have to be accompanied by late fees.

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