Circle Institute, New DelhiThe deadline for PAN-Aadhaar linking has been given till the end of the current financial year. The Income Tax Department disseminated instructions regarding Saturdays. PAN cards not attached with Aadhaar number will be canceled from April 1, 2023, the departments have clarified upon receipt.
What is essential, is essential. Don’t delay Aadhaar number Panshi Aajch Jodoon Ghya, after receiving such information, the department has issued a public letter. As per the Receipts Tax Act, 1961, it has been made mandatory for PAN holders to link their PAN with Aadhaar number. For this reason, 31st March 2023 is the last date and the PAN cards of those who do not take action will be deactivated from 1st April 2023, it has been hinted. However, residents of Assam, Jammu and Kashmir, Meghalaya, as well as persons above 80 years of age, who are non-resident Indians according to tax laws, have been excluded from this. In 2017, circulars on this topic would have become famous bananas in the Union Ministry of Finance.
What’s the result?
If the PAN is inoperative, it will not be possible to submit the returns after receiving the relevant tax dues, as well as claim tax refund. Where PAN related KYC is mandatory (bank, financial dealings etc.) it would be difficult for the concerned person to behave, the tax department has said.
Ritika
