Guwahati: Permanent Account Numbers (PANs) that are not linked with Aadhaar by the end of March of next year will be deemed “inoperative,” according to a notification from the Income Tax department published on Saturday.
“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,” the department said in a public advisory.
“What is mandatory, is necessary. Don’t delay, link it today!” it said.
The “exempt category” consists of people who live in the states of Assam, Jammu and Kashmir, and Meghalaya; who are classified as non-residents under the Income-tax Act, 1961; who were 80 years of age or older at any point in the previous year; and who are not Indian citizens, according to a notification issued by the Union Finance Ministry in May 2017.
A person would be liable for all I-T Act consequences and would suffer a variety of consequences, according to a circular issued by the Central Board of Direct Taxes (CBDT) on March 30.