Vide press release dated 28.03.2023, it is stated that the date for linking PAN and Aadhaar has now been extended to 30th June, 2023. It is also stated that more than 51 crore PANs have already been linked with Aadhaar till date.
From 1st July, 2023, the PAN of taxpayers who have failed to link, shall become inoperative and the consequences during the period that PAN remains inoperative will be as follows: (i) no refund shall be made against such PANs; (ii) interest shall not be payable on such refund for the period during which PAN remains inoperative; and (iii) TDS and TCS shall be deducted /collected at higher rate, as provided in the Act.
The PAN can be made operative again in 30 days, upon intimation of Aadhaar to the prescribed authority after payment of fee of Rs.1,000.