In a move to provide some more time to the taxpayers, the Indian government has extended the deadline for linking PAN and Aadhaar to June 30, 2023. The decision was taken in consideration of the difficulties faced by taxpayers in linking their PAN and Aadhaar due to the ongoing pandemic situation.
The Central Board of Direct Taxes (CBDT) announced the extension in a statement released on Tuesday. According to the statement, taxpayers can now intimate their Aadhaar to the prescribed authority for PAN-Aadhaar linking until June 30, 2023, without facing any repercussions.
However, from July 1, 2023, the unlinked PAN will become inoperative with consequences. To make the PAN operative again, taxpayers will have to intimate their Aadhaar to the prescribed authority within 30 days of the inactivation and pay a fee of Rs. 1,000.
The CBDT also urged taxpayers to link their PAN and Aadhaar as soon as possible to avoid any inconvenience or penalty. The linking of PAN and Aadhaar has been made mandatory by the Indian government to curb tax evasion and promote transparency in financial transactions.
The extension of the deadline is expected to provide relief to many taxpayers who were struggling to link their PAN and Aadhaar due to various reasons, including the COVID-19 pandemic. The government hopes that taxpayers will take advantage of this opportunity and complete the linking process without any further delay.