Are you an NRI/OCI whose PAN card has develop into inoperative, in spite of being exempted from linking PAN with Aadhaar? The Income Tax division clarified this fear on Tuesday including that the ones with inoperative PAN playing cards can nonetheless document ITR.
Intimate your residential standing to JAO
For NRIs, the IT division has mapped their residential standing in accordance with whether or not they’ve filed Income Tax Returns (ITR) within the closing 3 Assessment Years (AYs) or if they’ve knowledgeable the Jurisdictional Assessing Officer (JAO) about their residential standing. PAN playing cards had been rendered inoperative if those standards don’t seem to be met.
NRIs with inoperative PAN playing cards are asked to tell their respective JAO about their residential standing, offering supporting paperwork and a request to replace the PAN database. Details of the JAO may also be discovered HERE.
For OCIs/overseas voters who carried out for PAN beneath resident standing and feature no longer corrected/up to date their residential standing with the JAO or have no longer filed ITR within the closing 3 AYs, their PAN playing cards had been rendered inoperative.
OCIs/overseas voters are asked to tell their respective JAO about their residential standing, offering supporting paperwork and a request to replace the PAN database.
Inoperative PAN vs. Inactive PAN: Clarification
The division clarified that an inoperative PAN isn’t an inactive PAN. One would possibly nonetheless document the Income Tax Return (ITR), regardless of PAN changing into inoperative.
Consequences of getting inoperative PAN
i. Pending refunds and the corresponding hobby is probably not issued to PAN playing cards which were rendered inoperative.
ii. Tax Deducted at Source (TDS) will likely be deducted at the next price for inoperative PANs, according to phase 206AA.
iii. Tax Collected at Source (TCS) will likely be accrued at the next price for inoperative PANs, according to phase 206CC.