Taxpayers’ hearts are beating faster as the deadline for the PAN-Aadhaar link approaches. Only 4 days remain until the deadline set by the Income Tax Department i.e. March 31, 2023. Almost 2 crore PAN holders have not yet connected their PANs to Aadhaar, according to the Income Tax Department. For these pan holders, there is some good news, though. The deadline for PAN-Aadhaar connection may be extended once more, according to an income tax official. In this regard, a notification will soon be released by the Income Tax Department.
According to reports, the government may once more extend
the deadline for PAN-Aadhaar linkage. According to a person with knowledge of the situation, the Income Tax Department may shortly send out a notification in this respect. This is done in order to offer cardholders more time to link. All taxpayers who are not exempted, according to the Income Tax Department, must link their PAN with their Aadhaar before March 31. Now, this work may be completed for Rs 1000.
The deadline was pushed back earlier
Additionally, the government has repeatedly prolonged the Aadhaar-PAN linking deadline. This work was entirely free before March 31, 2022. For this work, a price of Rs 500 was first charged after April 1, 2022, and it has since increased to Rs 1000 as of July 1. PAN-Aadhaar connection is currently being done for this charge through March 31.
Why linking Aadhaar and PAN is required
Section 139AA of the Income Tax Act mandates that all PANs issued prior to July 1, 2017, be linked with Aadhaar numbers. This task can only be completed by linking PAN-Aadhaar. In July of last year, the administration informed Parliament that 61,73,16,313 persons had received PAN cards overall. 46,70,66,691 of these individuals have connected their PAN to their Aadhaar.
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