There are a few crucial deadlines like PAN-Aadhaar linking, and EPS-95 higher pension that fall in the month of June that everyone must be aware of.
PAN-Aadhaar linking
In order to provide some more time to the taxpayers, the government extended the Aadhaar-PAN linking deadline from March 31 to June 30, 2023, by three months, whereby persons can intimate their Aadhaar to the prescribed authority for Aadhaar-PAN linking without facing repercussions. Notification to this effect is being issued separately.
Under the provisions of the Income-tax Act, 1961(the ‘Act’) every person who has been allotted a PAN as on 1st July, 2017 and is eligible to obtain Aadhaar Number, is required to intimate his Aadhaar to the prescribed authority on or before 31st March, 2023, on payment of a prescribed fee. Failure to do so shall attract certain repercussions under the Act w.e.f. 1st April, 2023. The date for intimating Aadhaar to the prescribed authority for the purpose of linking PAN and Aadhaar has now been extended to 30th June, 2023.
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:
- No refund shall be made against such PANs;
- Interest shall not be payable on such refund for the period during which PAN remains inoperative; and
- TDS and TCS shall be deducted /collected at higher rate, as provided in the Act.
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 for 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.
It is stated that more than 51 crore PANs have already been linked with Aadhaar till date. PAN can be linked with Aadhaar Click Here
EPS-95 Higher- Pension
New Delhi, On May 2, 2023, Retirement fund body EPFO extended the date for filing applications to opt for a higher pension till June 26, 2023.
In order to provide a larger window of opportunity and in order to enable all eligible persons to file their applications, the timeline for filing applications would now be till 26th June 2023, according to a statement.
“The EPFO (Employees’ Provident Fund Organisation) has made arrangements for obtaining applications for validation of option/joint option from pensioners/members as per the Supreme Court order on November 4, 2022,” labor ministry said in a statement.
