PAN Card Update: If Aadhaar and PAN are not linked by the end of this financial year by March 31, 2023, the Permanent Account Number (PAN card) will become inactive. From April 1, 2023, you will have to pay an additional fee to the government if your PAN and Aadhaar are not linked. A CBDT circular dated March 30, 2022 said, “If the PAN becomes inoperative, tax at the higher rate will have to be deducted.”
The Income Tax Department had fixed March 31, 2022 as the deadline for linking PAN and Aadhaar but later extended it to June 30, 2022. However, there was a fee of Rs 500 for those linking their PAN and Aadhaar between April 1, 2022, and June 30, 2022.
The deadline for linking PAN and Aadhaar was later extended by the IT department till March 31, 2023. PAN holders linking PAN-Aadhaar between July 1, 2022 and March 31, 2023 may be fined Rs 1,000.
If PAN holders do not link their PAN with their Aadhaar card, their PAN card will become inoperative from April 1, 2023. To control and prevent tax evasion, the IT department has made it mandatory to link PAN and Aadhaar.
