Tax Amendments | CA Intermediate | November 2023

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  • Last Updated on 21 November, 2023

CA Inter Tax

CA Intermediate November 2023 Examinations

Paper 4 | Section A | Income Tax

The May 2022 edition of the Study Material is based on the provisions of Income-tax law, as amended by the Finance Act, 2022 and notifications and circulars issued up to 30th April, 2022 are relevant for November, 2023 Examination. The relevant assessment year for November, 2023 examination is A.Y. 2023-24. The significant notifications/circulars issued between 1.5.2022 and 30.04.2023, are also relevant for November, 2023 examinations. Those notifications/circulars issued between 1.11.2022 and 30.04.2023 have been discussed hereunder.

Key Highlights of Amendments

Sr. No.

Chapter Section Type of Amendment

Level of Amendment


Chapter 10 Rule 114AAA Substitution of rule specifying the manner of making PAN inoperative


Amendment Details

Chapter 10: Provisions for Filing Return of Income and Self-Assessment

A. Notification No. 15/2023 dated 28.03.2023 read with Circular No. 3/2023 dated 28.03.2022 – “Substitution of Rule 114AAA specifying the manner of making PAN inoperative” (Rule 114AAA)

As per section 139AA(2), every person who has been allotted PAN as on 1st July, 2017, and who is eligible to obtain Aadhar Number, shall intimate his Aadhar Number to the Principal Director General of Income-tax (Systems) or Principal Director of Income-tax (Systems) on or before 31.3.2022.

As per the proviso to section 139AA(2), in case of failure to intimate the Aadhar Number, PAN would made inoperative after the date so notified i.e., 31.3.2022 in such manner as may be prescribed.

Accordingly, Rule 114AAA specifies the manner of making PAN inoperative. However, CBDT has, vide this notification has substituted Rule 114AAA. New Rule 114AAA specifies the following manner of making PAN inoperative:

Sub-rule Provision
(1) Date from which PAN becomes inoperative

Where a person, who has been allotted PAN as on 1.7.2017 and is required to intimate his Aadhaar number under section 139AA(2), has failed to intimate the same on or before 31.3.2022, the PAN of such person shall become inoperative, and he shall be liable for payment of fee specified under section 234H read with Rule 114(5A).

(2) When and how inoperative PAN can become operative

Where the person has intimated his Aadhaar number after 31.3.2022, after payment of fee specified under section 234H read with Rule 114(5A), his PAN would become operative within 30 days from the date of intimation of Aadhaar number.

(3) Further consequences of failure to intimate Aadhar Number

A person, whose PAN has become inoperative, shall be liable for further consequences for the period commencing from the date specified by the Board till the date it becomes operative, namely –

(i) refund of any amount of tax or part thereof, due under the provisions of the Act shall not be made;

(ii) interest shall not be payable on such refund for the period, beginning with the date specified and ending with the date on which it becomes operative;

(iii) where tax is deductible under Chapter XVIIB in case of such person, such tax shall be deducted at higher rate, in accordance with provisions of section 206AA;

(iv) where tax is collectible at source under Chapter XVII-BB in case of such person, such tax shall be collected at higher rate, in accordance with provisions of section 206CC.

(4) Date from which consequences specified in Rule 114AAA would become effective [Circular No. 3/2023 dated 28.03.2022]

Rule 114AAA(4) provides that the provisions of sub-rule (3) shall have effect from the date specified by the Board.

Accordingly, the CBDT has, vide this Circular specified that the consequences specified above will be effective from 1.7.2023 and would continue till the PAN becomes operative by intimating Aadhaar number.

A fee of Rs. 1,000 will continue to apply to make the PAN operative by intimating the Aadhaar number.

However, these consequences of PAN becoming inoperative shall not be applicable to those persons who have been provided exemption from intimating Aadhaar number.

For official announcement and reference of complete amendments relevant for November 2023 exams, click on the links below:

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