PAN Card News: Today the important things regarding PAN card have been cleared by the Income Tax Department.
It is necessary to link PAN card with Aadhaar card in India. But some people have also been given exemption in this like NRI and Overseas Citizenship of India (OCI). Now concerns have been raised by some NRIs and Overseas Citizenship of India about their PAN cards being inoperative.
Apart from this, those PAN holders, whose PAN has been made inoperative due to non-linking with Aadhaar, have also expressed concern over its consequences. Now in this context a clarification has been given by the Income Tax Department-
1. ITD maps the residential status of the NRI if the NRI has filed ITR in any one of the last 3 years or if he has informed the Jurisdictional Assessing Officer (JAO) about his residential status. If any of these criteria is not met, the PAN is deactivated.
2. PAN of Overseas Citizen of India or Foreign Nationals who applied for PAN under Resident Status and have not corrected their residential status or have not filed ITR at any time in the last 3 years, their PAN will be deactivated Has been done.
Dear Taxpayers,
Concerns have been raised by certain NRIs/ OCIs regarding their PANs becoming inoperative, although they are exempted from linking their PAN with Aadhaar.
Further, PAN holders, whose PANs have been rendered inoperative due to non-linking of PAN with Aadhaar,…— Income Tax India (@IncomeTaxIndia) July 18, 2023
- Refund pending on inoperative PAN and interest on refund will not be released.
- TDS is deducted at higher rate for inoperative PAN as per section 206AA.
- Along with this, as per section 206CC, there is also TCS at a higher rate for inoperative PAN.
