PAN-Aadhaar linking deadline extended till June 30, 2023: CBDT

The deadline to link Permanent Account Number (PAN) card and the Aadhaar card has been extended to June 30th, 2023.

For those unaware, the earlier due date was March 31st.

* The Finance Ministry, in a fresh notification, said that from July 1st, 2023 all unlinked Pan cards shall be deemed inoperative.

* Post the deadline, users will have to pay a penalty of Rs 1,000 to make their PAN operative again.

“Income Tax Department in a Tweet said: “As per IT Act, 1961, it is mandatory for all PAN holders, to link their PAN with Aadhaar before 31.3.23. From 1.4.23, the unlinked PAN shall become inoperative. Please link today.”

The Securities and Exchange Board of India (SEBI) has asked investors to link their PAN and Aadhaar by the said deadline or investors will not be able to initiate transactions in the financial markets like NSE and BSE.

PAN-Aadhaar linking is not required for NRIs, individuals who are not citizens of India, and senior citizens aged above 80 years.

Residents of Assam, Meghalaya and Jammu Kashmir are also not required to link their PAN and Aadhaar.

This came after the IT Department identified cases where one person had multiple PANs, or when one PAN number was allotted to multiple individuals.