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Important notification on linking of Aadhaar with PAN by June 30, 2023

As per Section 139AA of the Income-tax Act, 1961 (‘Act’), every person who has been allotted a permanent account number (PAN) and is eligible to obtain an Aadhaar number is required to update his or her Aadhaar number to the income tax authorities (linking of Aadhaar with PAN) by June 30, 2023, in the prescribed manner.

To check the status of the linkage, please visit : https://eportal.incometax.gov.in/iec/foservices/#/pre-login/link-aadhaar-status
For details on how to link PAN with Aadhaar, please visit : https://uidai.gov.in/en/282-faqs/your-aadhaar/aadhaar-letter/1884-how-do-i-link-pan-with-aadhaar.html

The consequences arising due to non-linking of Aadhar with PAN which tantamount to not furnishing, intimating or quoting the permanent account number shall come into effect from 1st July, 2023. Further, rule 114AAA of the Income-tax Rules provides PAN of a person will become inoperative due to non-linking of PAN with Aadhar. As a result, such person will not be able to furnish, intimate or quote his PAN and shall be liable to all the consequences under the Act for such failure. This will have a number of implications such as:-

(i) The person shall not be able to file return using the inoperative PAN

(ii) Pending returns will not be processed

(iii) Pending refunds cannot be issued to inoperative PANs

(iv) Pending proceedings as in the case of defective returns cannot be completed once the PAN is inoperative

(v) Tax will be required to be deducted at a higher rate as PAN becomes inoperative

(vi) Where PAN is not linked with Aadhar, the person will not be permitted to carry out the following transactions:

Sl.No. Nature of transaction Value of transaction
1. Opening an account [other than a time-deposit referred to at Sl. No.7 and a Basic Savings Bank Deposit Account] with a banking company or a co-operative bank to which the Banking Regulation Act, 1949 (10 of 1949), applies (including any bank or banking institution referred to in section 51 of that Act). All such transactions.
2. Making an application to any banking company or a co-operative bank to which the Banking Regulation Act, 1949 (10 of 1949), applies (including any bank or banking institution referred to in section 51 of that Act) or to any other company or institution, for issue of a credit or debit card. All such transactions.
3. Opening of a demat account with a depository, participant, custodian of securities or any other person registered under sub-section (1A) of section 12 of the Securities and Exchange Board of India Act, 1992 (15 of 1992). All such transactions.
4. Payment in connection with travel to any foreign country or payment for purchase of any foreign currency at any one time. Payment in cash of an amount exceeding fifty thousand rupees.
5. Deposit with banking company or a co-operative bank to which the Banking Regulation Act, 1949 (10 of 1949), applies (including any bank or banking institution referred to in section 51 of that Act) Cash deposits exceeding fifty thousand rupees during any one day
6. Purchase of bank drafts or pay orders or banker’s cheques from a banking company or a co-operative bank to which the Banking Regulation Act, 1949 (10 of 1949), applies (including any bank or banking institution referred to in section 51 of that Act). Payment in cash for an amount exceeding fifty thousand rupees during any one day.
7. A time deposit with a banking company or a co-operative bank to which the Banking Regulation Act, 1949 (10 of 1949), applies (including any bank or banking institution referred to in section 51 of that Act) Amount exceeding fifty thousand rupees or aggregating to more than five lakh rupees during a financial year.
8. Payment for one or more pre-paid payment instruments, as defined in the policy guidelines for issuance and operation of pre-paid payment instruments issued by Reserve Bank of India under section 18 of the Payment and Settlement Systems Act, 2007 (51 of 2007), to a banking company Payment in cash or by way of a bank draft or pay order or banker’s cheque of an amount aggregating to more than fifty thousand rupees in a financial year.
9. Sale or purchase, by any person, of goods or services of any nature other than those specified at Sl. Nos. 1 to 8 of this Table, if any. Amount exceeding two lakh rupees per transaction:

Kindly link your Aadhaar with your PAN by June 30, 2023, to avoid any adverse implications.

From July 1, 2023, an inoperative PAN shall only become operational from the date of intimation of the Aadhaar number to tax authorities in the prescribed manner.

You may visit the Income Tax Department’s website for more clarity. If you need to contact us, please visit : https://www.sc.com/in/contact-us/