New Delhi, 05-02-2024 : The government has amassed a substantial sum of over Rs 600 crore in penalties due to delays in linking PAN (Permanent Account Number) with Aadhaar, revealing that a staggering 11.48 crore PANs are yet to be linked with the biometric identity, as disclosed in Parliament on Monday.
In response to queries, Minister of State for Finance Pankaj Chaudhary provided a written reply in the Lok Sabha, stating that as of January 29, 2024, the number of PANs not linked with Aadhaar, excluding exempted categories, stands at 11.48 crore. Shedding light on the financial implications of the delayed linkage, Chaudhary reported that the total collection of fees from individuals who failed to link their PAN with Aadhaar amounted to a substantial Rs 601.97 crore between July 1, 2023, and January 31, 2024.
The critical deadline for linking PAN with the biometric Aadhaar was June 30, 2023. The Income Tax department had previously announced that the PANs of taxpayers who neglected to inform their Aadhaar details would become inoperative from July 1, 2023. Consequentially, no refunds would be issued for such PANs, and TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) would be deducted or collected at higher rates. Notably, the operational status of PANs could be reinstated by remitting a late fee of Rs 1,000. This development underscores the government’s stringent measures to enforce Aadhaar-PAN linkage and the financial repercussions faced by individuals for non-compliance after the stipulated deadline.