DTI News

June 21, 2024
English हिन्दी

“The income tax authority extends deadline for linking PAN and Aadhaar until June 30, 2023, offering relief to taxpayers”

NEW DELHI: The Income Tax Department recently announced that the deadline for linking PAN (Permanent Account Number) with Aadhaar has been extended to June 30, 2023. This extension is a relief for many taxpayers who had difficulty meeting the earlier deadline of September 30, 2021.

According to the Income Tax Department, taxpayers can now declare their Aadhaar with the prescribed authority for linking PANand Aadhaar without any repercussions. The extension buys individuals more time to ensure their PAN and Aadhaar are linked without worrying about legal consequences.

The Treasury press release states, “To buy some time for taxpayers, the deadline for linking PAN and Aadhaar has been extended to June 30, 2023, so that individuals can report their Aadhar data to the prescribed authority for linking Aadharand PAN without facing any consequences. A notice to this effect will be published separately.

From July 1, 2023, PAN of taxpayers who have failed to provide their Aadhaar as prescribed will become ineffective and the consequences during the period PAN remains ineffective are as follows: No refunds shall be made for such PANs, no interest shall be payable on such refunds for the consequences during the period in which PAN remains ineffective, and TDS and TCS shall be deducted/collected at a higher rate as provided in the Act, he added.

It is important to note that linkage of PAN with Aadhaar is mandatory under the provisions of Section 139AA of the Income Tax Act. The linkage helps to avoid duplicate PANs and ensure that all taxpayers have a unique identification number. It also helps the government track financial transactions of individuals and curb tax evasion.

The extension of the deadline has been welcomed by many taxpayers who have had difficulty linking their PAN to Aadhaar for various reasons, such as technical problems or incorrect information. The deadline extension gives taxpayers sufficient time to correct any errors and complete the linking process.

In summary, the extension of the deadline for linking PAN to Aadhaar is a positive move by the income tax authority. It provides citizens with more time to complete the process without legal consequences. Taxpayers are advised to take advantage of this opportunity and ensure that their PAN and Aadhaar are linked before the new deadline of June 30, 2023.

Business, Latest News, National, Top Tags:, , , , , , , , , , , , ,

Leave a Reply

Your email address will not be published.