Income-Tax payer? Beware! Your PAN card will become inoperative; check warning

tech.hindustantimes.com:

Have you linked your PAN with Aadhaar? If not, do it soon to avoid your PAN from becoming inoperative. It can be known that the last date for linking PAN with Aadhaar is March 31, 2023. The Income Tax Department informed about the same via its Twitter handle. "As per Income-tax Act, 1961, the last date for linking PAN with Aadhaar is 31.3.2023, for all PAN holders who do not fall under the exempt category, failing which the unlinked PAN shall become inoperative. Don't delay, link today!," the tweet read.

Notably, it is mandatory to link your PAN and Aadhaar as linking these identification documents would make it possible for your income tax returns to be completed. The Income Tax Department has also urged all PAN holders, those who do not come under the exempt category as per the Notifications No. 37/2017, dated 11th May, 2017 and who have not linked their Aadhaar with PAN yet, to link these documents immediately.

"PAN can be linked with a valid Aadhaar on www.incometax.gov.in after paying a fee of Rs. 1000," the Income Tax Department added. The central government had extended the last date to link your Permanent Account Number (PAN) with Aadhaar to March 31, 2023. However, a host of penalties have been announced by the Central Board of Direct Taxes (CBDT).

The department on March 30, introduced a sub-section (2) under section 139AA directing that a fine of Rs. 500 will be levied on linking the documents till June 30, 2022 and will be increased to Rs. 1000 after that. After March 31, 2023, the PAN of taxpayers who fail to link their Aadhaar, as required, shall become inoperative and all the consequences under the Act for not furnishing, intimating or quoting the PAN will apply to such taxpayers. The consequences include not