CBDT amends provisions of Income-tax Rules, 1962 for prescribing fees under Section 234H of the Income-tax Act, 1961 - (30 Mar 2022)

Direct Taxation

In order to mitigate the inconvenience to the taxpayers, as per Notification No.17/2022 dated 29th March, 2022, a window of opportunity has been provided to the taxpayers upto 31st of March, 2023 to intimate their Aadhaar to the prescribed authority for Aadhaar-PAN linking without facing repercussions. As a result, taxpayers will be required to pay a fee of Rs. 500 up to three months from 1st April, 2022 and a fee of Rs.1000 after that, while intimating their Aadhaar. The CBDT has extended the PAN-Aadhaar linking deadline several times.

However, till 31st March, 2023, the PAN of the assessees who have not intimated their Aadhaar, will continue to be functional for the procedures under the Act, like furnishing of return of income, processing of refunds etc. After 31st March, 2023, the PAN of taxpayers who fail to intimate their Aadhaar, as required, shall become inoperative and all the consequences under the Act for not furnishing, intimating or quoting the PAN shall apply to such taxpayers.

Under the provisions of the Income-tax Act, 1961, every person who has been allotted a PAN as on 1st July, 2017 and is eligible to obtain Aadhaar Number, is required to intimate his Aadhaar to the prescribed authority on or before 31st March, 2022. On failure to do so, his PAN shall become inoperative and all procedures in which PAN is required shall be halted. Taxpayers can link their PAN to Aadhaar and even check the status by visiting the income tax portal. The linking of PAN to Aadhaar would play a significant role in eliminating PAN duplication and checking tax evasion.

Tags : PROVISION AMENDMENT FEES LEVY