Quick Summary
Under the provisions of the Income-tax Act, 1961 (the Act), every person who has been allotted a PAN as on 1st July, 2017 and is eligible to obtain Aadhaar Number, is required to intimate his Aadhaar to the prescribed authority on or before 31st March, 2022. On failure to do so, his PAN shall become inoperative and all procedures in which PAN is required shall be halted. The PAN can be made operative again upon intimation of Aadhaar to the prescribed authority after payment of a prescribed fee.
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FAQ :
The CBDT has amended the Income-tax Rules, 1962, to prescribe fees for linking PAN with Aadhaar under Section 234H of the IT Act, 1961.
Taxpayers were given a window until March 31, 2023, to intimate their Aadhaar to link with their PAN without facing repercussions.
A fee of Rs. 500 was applicable for the first three months from April 1, 2022, and a fee of Rs. 1000 was charged thereafter.
No, until March 31, 2023, PANs of assessees who had not intimated their Aadhaar continued to be functional for furnishing returns and processing refunds.
After March 31, 2023, the PAN of taxpayers who fail to intimate their Aadhaar will become inoperative, and consequences for not quoting PAN will apply.
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