Permanent Account Number (PAN) is now inoperative if it isn’t connected with Aadhaar from March 31, 2020, the Income Tax department has stated.
The deadline for linking of PAN and Aadhar has been extended several times and the present deadline ends on March 31, 2020.
TillJanuary 27, 2020, over 30. 75 crore PANs have already been linked to Aadhaar. But 17. 58 crore PANs are yet to be connected with the 12-Hybrid Notebook ID.
“Where a individual, that has been allocated the permanent account number according to July1, 2017 and is needed to close his Aadhaar amount under sub-section (2) of part 139AA, has neglected to intimate the same on or before March 31, 2020, the permanent account number of the individual shall become inoperative promptly following the stated date for the purposes of supplying, intimating or quoting beneath the Act,” that the Central Board of Direct Taxes (CBDT) stated.
Through a telling, the CBDT Publish Income Tax principles and added Rule 114AAA, stipulating the”way of earning permanent account number inoperative”.
The notification further said that men whose PANs eventually become inoperative shall be responsible for all of the consequences below the I-T Act for not supplying, intimating or restarting the permanent account number.
For those connecting PAN with Aadhaar following March 31, 2020, the I-T department stated it will”become operative from the date of intimation of Aadhaar amount”.
Department 139 AA (2) of the Income Tax Act states that each individual having PAN according to July 1, 2017, and qualified to acquire Aadhaar, needs to close his Aadhaar amount to the taxation authorities.
The Supreme Court had in September 2018 announced Aadhaar as constitutionally legitimate and maintained the biometric ID will stay compulsory for the filing of income tax returns along with allotment of PAN cards.
Aadhaar is issued with the exceptional Identification Authority of India, or UIDAI, to a resident of India and PAN is a 10-digit alphanumeric amount allotted from the income tax department into a individual, entity or firm.