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Indian Government increases time to link PAN with Adhaar

Government increases time to link PAN with Adhaar

The Government of India has extended the deadline to link the Permanent Account Number (PAN) to Adhaar. They extended the date to 30 June 2023. This announcement was made by the Ministry of Finance on Tuesday 28 March 2023. Earlier, the deadline to link the PAN to Adhaar was set at 31 March 2023. According to the sub-section of section 139 AA to Income Tax Act 1961. Based on this act, every person who has been allotted a Permanent Account Number (‘PAN’) shall also be required to link the same with his Aadhaar. After deliberate planning and further extensions the Government of India has decided upon 30 June 2023 as the final date.

The Government also announced that from the 1st of July 2023, all the taxpayers who have failed to link their PAN from Adhaar will not be in function and they will not be operational. However, there is a way to fix this. The PAN can be made operative again in 30 days. This will be done after the PAN and Adhaar and after a payment of Rs 1000. However, the Ministry of Finance mentioned that all the citizens whose PAN has become inactive will not get any refund.

The Finance Ministry made it clear that no one will get a refund against such PAN’s. Later, they also added that the interest will not be payable on such a refund specifically for the period during with the PAN is inactive. The TDS (Tax Deducted at Source) and TCS (Tax Collection at Source) will also be deducted or collected at a higher rate as mentioned in the Act.

Why should one link PAN with Adhaar ?

The main aim of linking the PAN to Adhaar is to minimize and solve the issue of duplication of PAN cards in the country. The Income Tax Department of India was found many cases where an individual has many PAN cards or even where the same PAN number was allotted to various individuals.

This resulted in many problems and difficulties, so the Government decided to make it necessary for everyone to link PAN with Adhaar. For more such updates and important headlines, subscribe to STMN News. PM Inaugurates New Metro Line in Bengaluru

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