By: ABP News Bureau | Updated at : 16 Jan 2023 02:58 PM (IST)
Once subscribers miss this deadline, the 10-digit unique alphanumeric number will become inoperative. ( Image Source : Getty )
Permanent account number (PAN) holders, who have not linked their PAN number with their Aadhaar, will not be able to use the same from the next financial year ie. April 1, 2023. Once subscribers miss this deadline, the 10-digit unique alphanumeric number will become inoperative.
Most PAN holders have already linked their PAN with their Aadhaar, but some are yet to do the same. The income tax (I-T) department apprised customers about linking the two before April. “As per Income-tax Act, 1961, it is mandatory for all PAN holders, who do not fall under the exempt category, to link their PAN with Aadhaar before 31.3.2023. From 1.04.2023, the unlinked PAN shall become inoperative. Link it before it’s too late. Don’t delay, link it today!" the tax department tweeted last week.
As per Income-tax Act, 1961, it is mandatory for all PAN holders, who do not fall under the exempt category, to link their PAN with Aadhaar before 31.3.2023.
— Income Tax India (@IncomeTaxIndia) January 9, 2023
From 1.04.2023, the unlinked PAN shall become inoperative.
Link it before it’s too late. Don’t delay, link it today! pic.twitter.com/JCWQB7srVm
Once a PAN becomes inoperative, an individual shall be liable to all the consequences under the I-T Act and will have to suffer a number of implications. If PAN becomes inoperative, you will be unable to file I-T return.
The pending returns will pose difficulty for income taxpayers as returns will not get processed, and refunds cannot be issued even pending proceedings as in the case of defective returns cannot be completed and tax will be required to be deducted at a higher rate.
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