After today, people whose PAN is not linked with Aadhaar will be fined one thousand rupees. Central Board of Direct Taxes – CBDT notification states that non-linking of PAN with Aadhaar will render PAN inoperative and can be activated only after payment of penalty.
According to the Income Tax Act, it is mandatory to link PAN with Aadhaar number, otherwise PAN will become inactive from March 31 next year. This means that the user will not be able to do any transaction that requires the PAN to be displayed.
Those who are not able to link PAN with Aadhaar by the deadline, their PAN will be active till March 2023 for filing income tax returns. To save taxpayers from inconvenience, relief has been given till March 31, 2023.
