- The deadline for linking PAN and Aadhaar has been extended to 30th June, 2023.
- Persons who have been allotted a PAN and are eligible to obtain an Aadhaar Number must intimate their Aadhaar to the prescribed authority on or before 31st March, 2023, or face repercussions under the Act from 1st April, 2023.
- From 1st July, 2023, the PAN of taxpayers who have failed to intimate their Aadhaar shall become inoperative and certain consequences will follow, including no refund, no interest on refund, and TDS and TCS deductions at a higher rate.
- 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.
- Certain categories of individuals are exempt from PAN-Aadhaar linking, including those residing in specified States, non-residents, individuals who are not citizens of India, and individuals of the age of eighty years or more at any time during the previous year.
- More than 51 crore PANs have already been linked with Aadhaar, and the process can be done through the e-portal provided.
Questions : What is the consequence of not linking Aadhaar to PAN by 1st July, 2023?
a) No refund will be made against such PANs
b) Interest will be payable on such refund for the period during which PAN remains inoperative
c) TDS and TCS deductions will be made at a lower rate
d) The PAN will be cancelled permanently
Answer: a) No refund will be made against such PANs
