Disclaimer and Important Note
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As per the Income Tax Department Circular, the deadline for linking PAN and Aadhaar ended on 30th June, 2023.

 The circular further says that with effect from 1st July, 2023, the PAN of taxpayers who have failed to intimate their Aadhaar, as required, 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.

You may note that 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. Those persons who have been exempted from PAN-Aadhaar linking will not be liable to the consequences mentioned above. This category includes those residing in specified States, a non-resident as per the Act, an individual who is not a citizen of India or individuals of the age of eighty years or more at any time during the previous year.

 

Exception:

Pursuant to RBI communication, We will accept the applications from investors having in-operative PAN, towards FRSB, 2020[T] subscriptions, post July 01, 2023. However, the investors having inoperative PAN would face consequences as mentioned above.

We request the customers to update their PAN-AADHAAR immediately.