New Delhi, 24 December: The Income Tax Department has issued an advisory to the taxpayers. The Income Tax Department tweeted on Saturday that Permanent Account Number (PAN) not linked to Aadhaar card by March 2023 will be declared ‘inoperative’.
According to an advisory issued by the Income Tax Department, it is mandatory for all PAN holders to link their PAN with Aadhaar before March 31, 2023, except those falling in the exempted category as per the Income Tax Act, 1961. PAN cards not linked with Aadhaar will become inoperative from April 1, 2023.
The department has said in the ongoing consultation to not delay and link their PAN with Aadhaar today, it is necessary to do this. Although some categories have been exempted from this which includes non-residents of Assam, Jammu and Kashmir and Meghalaya, people of 80 years or more and foreign nationals.
According to a circular of the Central Board of Indirect Taxes (CBDT), if one’s PAN is inoperative, then they will have to face the consequences under the IT Act. If one’s PAN is inoperative, the income tax return will not be filed, their pending return will not be processed. Also, their tax will be deducted at the higher rate. Along with this, taxpayers may have to face other difficulties.
