CBDT notifies consequences that will apply to a person if his PAN becomes inoperative

  • Blog|News|Income Tax|
  • < 1 minute
  • By Taxmann
  • |
  • Last Updated on 29 March, 2023

consequences of inoperative PAN

Notification No. 15/2023, dated 28-03-2023

The Central Board of Direct Taxes has substituted Rule 114AAA to notify consequences that apply if a PAN of a person becomes inoperative due to non-linking with his Aadhaar.
Rule 114AAA(4) lists the following consequences during the period that PAN remains inoperative:

a) no refund shall be granted against inoperative PANs;

b) interest shall not be payable on such refund for the period during which PAN remains inoperative; and

c) Tax shall be deducted/collected at a higher rate, as provided in the Income-tax Act.

It should be noted that those persons who have been exempted from PAN-Aadhaar linking will not be liable for the consequences mentioned above. This category includes an Individual residing in States of Assam, Jammu and Kashmir and Meghalaya; a non-resident individual as per the Income-tax Act; an Individual whose age is 80 years or above at any time during the previous year; an individual who is not a citizen of India.

Click Here To Read The Full Notification

Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.

Leave a Reply

Your email address will not be published. Required fields are marked *

Everything on Tax and Corporate Laws of India

To subscribe to our weekly newsletter please log in/register on Taxmann.com

Author: Taxmann

Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
  • Every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that's easy to read and remain consistent across all imprint and digital publications are applied