Breaking: PAN-Aadhaar Linking Deadline likely to extend by Govt; Late Fees may be Charged:

Breaking: PAN-Aadhaar Linking Deadline likely to extend by Govt; Late Fees may be Charged The Government is considering to extend the deadline for linking Permanent Account Number(PAN) with Aadhaar by another 2-3 months, as per the Officials. According to a government official aware of the development, the Central Board of Direct Taxes may shortly issue a notification to that effect. However, a fee will have to be paid for the period. The deadline for linking PAN-Aadhaar is March 31, 2023. While extending the deadline to March 30, 2022 by one year, the CBDT imposed a fee of Rs. 500 for up to three months beginning April 1, 2022, and Rs. 1000 thereafter. It had stated that after March 31, 2023, the PAN of individuals who do not connect it with their Aadhaar will become inoperative, and all the consequences under the Income Tax Act for failing to submit, notify, or quote the PAN will apply to such taxpayers. The deadline has already been extended four times by the government. Quoting Aadhaar is required while filing income tax returns (ITRs) and obtaining a new PAN.