What is the last date for Aadhaar PAN Link 2023?

The Central Board of Direct Taxes (CBDT) has extended the last date to link PAN with Aadhaar to June 30, 2023. This will provide taxpayers additional time for linking their PAN and Aadhaar without facing consequences. It is for the fifth time that the CBDT has extended the deadline to link PAN and Aadhaar.

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Earlier, the last date to link your income tax PAN card with your Aadhaar card was March 31, 2023. Failing to link both numbers by the specified deadline will result in your PAN becoming inoperative from July 1, 2023.

The date for intimating Aadhaar to the prescribed authority for linking PAN and Aadhaar has now been extended to June 30th, 2023.

Why is it important to link PAN and Aadhaar?

Taxpayers are required to link their Aadhaar with their PAN by March 31, 2023, according to Section 139AA of the Income Tax Act 1961. PAN-Aadhaar link is part of the Know Your Customer (KYC) requirements for several financial services and investments. The purpose of the PAN-Aadhaar linking exercise is to ensure the de-duplication of PANs and identify bogus PANs as there have been several instances of allotment of multiple PANs to single individuals.

If the PAN becomes inoperative, then a taxpayer will be unable to file income tax returns. Pending ITRs and income tax refunds will not be processed. Further, individuals filing ITRs without PAN are required to pay taxes at a higher rate.

According to SEBI regulations, a valid PAN is a must for all participants in securities markets.

Transactions that taxpayers cannot make

If a PAN card becomes inoperative, taxpayers will not be able to make multiple transactions, which include:

Opening a bank account, except a basic savings account
Purchasing an immovable property of above Rs 10 lakh
Depositing a sum of over Rs 50,000 a day in any public or private bank
Foreign cash payments of over Rs 50,000 at a time
Purchasing a vehicle
Getting motor insurance
Investments in mutual funds for above Rs 50,000
Investments in RBI bonds, company bonds and debentures

Who is not required to link PAN-Aadhaar?

Individuals residing in Assam, Jammu and Kashmir and Meghalaya are exempted from PAN-Aadhaar linking. Further, non-residents and citizens aged 80 years or above are also exempted from the PAN-Aadhaar link.

How to link income tax PAN card with Aadhaar card?

PAN card and Aadhaar card linking can be done online by visiting the official income tax e-filing website www.incometax.gov.in. All one is required to do is provide the details, such as PAN, Aadhaar number, mobile number and name, as mentioned on the Aadhaar card.

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Harini Balasubramanian

Harini is a content management professional with over 12 years of experience. She has contributed articles for various domains, including real estate, finance, health and travel insurance and e-governance. She has in-depth experience in writing well-researched articles on property trends, infrastructure, taxation, real estate projects and related topics. A Bachelor of Science with Honours in Physics, Harini prefers reading motivational books and keeping abreast of the latest developments in the real estate sector.