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Friday, February 28, 2020

PAN to be inoperative after March 31 if not linked with Aadhaar: I-T dept

The deadline for linking of PAN and Aadhaar has been extended several times and the current deadline ends on March 31, 2020.

By: ENS Economic Bureau | New Delhi | Updated: February 15, 2020 3:53:32 pm
pan-aadhaar linking, pan card it department, pan aadhaar card linking deadline, biometric id, cbdt, income tax act, business news, indian express The deadline for linking of PAN and Aadhaar has been extended several times and the current deadline ends on March 31, 2020.

Permanent Account Number (PAN) will become inoperative if it is not linked with Aadhaar by March 31, 2020, the Income-Tax (I-T) department has said.

The deadline for linking of PAN and Aadhaar has been extended several times and the current deadline ends on March 31, 2020.

Till January 27, 2020, over 30.75 crore PANs have already been linked to Aadhaar. However, 17.58 crore PANs are yet to be linked with the 12-digit biometric ID.

Read | I-T is given a target to collect: Rs 2 lakh crore by March end

“Where a person, who has been allotted the permanent account number as on July1, 2017 and is required to intimate his Aadhaar number under sub-section (2) of section 139AA, has failed to intimate the same on or before March 31, 2020, the permanent account number of such person shall become inoperative immediately after the said date for the purposes of furnishing, intimating or quoting under the Act,” the Central Board of Direct Taxes (CBDT) said.

Through a notification, the CBDT amended Income Tax rules and inserted Rule 114AAA, stipulating the “manner of making permanent account number inoperative”.

The notification further said that persons whose PANs become inoperative shall be liable for all the consequences under the I-T Act for not furnishing, intimating or quoting the permanent account number.

For those linking PAN with Aadhaar after March 31, 2020, the I-T department said it shall “become operative from the date of intimation of Aadhaar number”.

Section 139 AA (2) of the Income Tax Act says that every person having PAN as on July 1, 2017, and eligible to obtain Aadhaar, must intimate his Aadhaar number to the tax authorities.

(With PTI inputs)

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