Don’t panic; date will be notified later from when PAN without Aadhaar will not be valid: CBDT

New Delhi, June 30 (KNN) Appealing the public not to panic, the income tax department has said permanent account numbers (PAN) will not become invalid after June 30, 2017. The department clarified that it will notify a date later from when PAN without Aadhaar will not be valid.

“There is no need for any panic. PAN will not become invalid after June 30,” Sushil Chandra, chairman of Central Board of Direct Taxes (CBDT) told Economic Times.

The board will notify a date later from when PAN without Aadhaar will not be valid, he said.

According to a notification issued earlier this week, individuals having PAN will have to link it to their existing 12-digit biometric Aadhaar number from July 1, 2017.

Aadhaar number or Aadhaar enrolment ID will also have to mandatorily quoted while applying for permanent account number (PAN), which is a must for filing tax returns, opening of bank accounts and financial transactions beyond a threshold.

The department said “every person who has been allotted PAN as on July 1, 2017, and who in accordance with the provisions of sub-section (2) of section 139AA is required to intimate his Aadhaar number… to the principal director general of income tax (systems) or DGIT (systems)”.

Also Read: Linking PAN with Aadhaar must July 1 onwards