Now not linking PAN with Aadhaar by March 31 to blueprint penalty


₹500 will be levied in first 3 months, ₹1,000 thereafter: CBDT

The Central Board of Utter Taxes (CBDT) has reach up with a contemporary rule imposing a fee for delayed intimation of Aadhaar to the Revenue Tax division by linkage with everlasting yarn number (PAN) beyond the March 31 deadline.

The foundations like also been amended to salvage PAN inoperative after March 31, 2023, for non-intimation of Aadhaar. Additionally rules had been amended to re-operationalise PAN on fee of fee. 

Two-tier structure

The rate — more like a penalty — can like a two-tier structure, whereby ₹500 will be charged if the PAN-Aadhaar is linked internal three months after the expiry of the deadline (March 31). 

This would perchance point out that if PAN-Aadhaar is linked between April 1, 2022, and June 30, 2022, then the particular individual will be at possibility of pay ₹500 as a fee for linking the an identical. If the linking carried out after three months, then a fee of ₹1,000 will be charged, mentioned the CBDT.

It per chance recalled that the guideline for levying a penalty for not linking PAN-Aadhaar by the due date (March 31, 2022) changed into introduced as an amendment in the Finance Act 2021.

Behind charges are payable at the time of constructing intimation as required under portion 139AA(2).

Meanwhile, CBDT has clarified that till March 31, 2023, the PAN of the taxpayers who like not intimated their Aadhaar will continue to be purposeful for procedures much like furnishing of return of income and processing of refunds. After March 31, 2023, the PAN of taxpayers who fail to intimate their Aadhaar will change into inoperative, and the total implications under the Act for not furnishing, intimating or quoting the PAN will prepare.

Amit Maheshwari, Tax Partner, AKM World, a tax and consulting company, mentioned: “It would perchance be a support to taxpayers as PAN is per chance not inoperative till March 31, 2023, although the Adhaar just isn’t linked with the an identical. Then again, late charges will continue to prepare. It would perchance set tax payers from keeping off points linked to invalid PAN whereas making command of for refund, submitting their returns and bigger tax fee for withholding. Extra, this leisure will set tax payers from the penal provisions as properly.”

In step with the notification, where a individual fails to link his Aadhar with PAN by March 31, 2022, the person will be at possibility of pay a late charges upto Rs₹1,000. Extra, the unusual PAN number will change into indolent.

Printed on

March 30, 2022

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