New Delhi: This information is crucial for PAN card owners who haven’t yet linked their cards to Aadhaar. According to a statement made by the Central Board of Direct Taxes (CBDT) in earlier March, a Permanent Account Number (PAN) that has not been linked to an Aadhaar Card will cease to exist after March 2023.
The income tax division had warned that PAN cardholders who failed to link their cards with Aadhaar by March 31, 2022, could face fines of up to Rs 1000. However, until the PAN Card becomes inoperative in 2023, such cardholders will be permitted to use it.
The income tax administration has repeatedly pushed back the deadline for tying the PAN card to the Aadhaar card. Currently, March 31, 2022, was the deadline for tying up the important papers. Those who have been ‘allotted a PAN Card as of 1st July 2017 and is entitled to receive Aadhaar Number, is obliged to inform his Aadhaar to the statutory authorities on or before 31st March 2022,’ according to the CBDT.
‘If he doesn’t, his PAN will stop working and all operations that call for a PAN will stop. When Aadhaar is notified to the appropriate body and the appropriate price is paid, the PAN may be rendered operational once more’, the government noted. However, until March 31, 2023, the assessees’ PANs will continue to work for Act-required operations including providing income tax returns and processing refunds, according to CDBT.
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