Officials have stated that the government is expected to grant an additional two to three month extension for linking Aadhaar with permanent account number (PAN). The Central Board of Direct Taxes may soon release a notification confirming this information. However, individuals will be required to pay a fee during this period.
The deadline for linking PAN with Aadhaar is March 31, 2023. The CBDT had previously announced an extension on March 30, 2022, for which a fee of Rs. 500 was set for the first three months from April 1, 2022, and Rs. 1000 after that. Failure to link PAN with Aadhaar before March 31, 2023, will result in inoperative PAN and consequences as per the Income Tax Act.
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Categories: Income Tax
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