PAN-Aadhaar linking deadline extended to December 31

PAN-Aadhaar linking deadline extended to December 31

Mangalore Today News Network

New Delhi, September 28, 2019: The Ministry of Finance, in a notification dated September 28, 2019, announced that it has extended the deadline to link PAN with Aadhaar to December 31, 2019. Earlier this deadline was September 30, 2019.

This extension will come as a relief for those individuals who still have not linked their PAN with their Aadhaar.

"The CBDT granted another 3 months extension to link the Aadhaar with PAN. As per the recent amendment by the Finance (No. 2) Act, 2019, if a taxpayer does not link his PAN with Aadhaar number by the due date then the PAN of the taxpayer shall be deemed to be inoperative. A taxpayer will not be able to quote his PAN if it becomes inoperative. The dept. has not yet prescribed the manner in which an inoperative PAN shall be made operative again. Thus, in order to avoid any inconvenience which may cause to the taxpayer, the board has extended the cut-off date", says Chartered accountant Naveen Wadhwa, DGM, Taxmann.com

If your PAN is not linked with Aadhaar by the extended deadline, then as per current laws your PAN will become inoperative. However, the government is yet to notify the implications of ’inoperative’ in case PAN is not linked with Aadhaar.

The Central Board of Direct Taxes (CBDT) has not notified the manner in which PAN will become inoperative if not linked with Aadhaar by the deadline.

It is likely that if a person’s PAN becomes inoperative it will be treated as if the individual is not holding the PAN and he/she would be unable to conduct financial transactions where quoting of PAN is mandatory.