What should NRIs do if your PAN has become inoperative?
This article shows the solution in case NRIs suddenly find their PAN number has become inoperative after 30th June 2023.
This article shows the solution in case NRIs suddenly find their PAN number has become inoperative after 30th June 2023.
After pushing back the deadline multiple times, the central government has started marking inoperative PAN numbers that are not linked to Aadhaar. This action was taken after the latest PAN-Aadhaar linkage deadline expired on 30th June 2023. As a result, many NRIs found out the hard way, while filing income tax return, that their PAN cards are now inoperative.
NRIs are not expected to be affected by the PAN-Aadhaar linkage deadline and, subsequently, PAN becoming inoperative since they are not expected to have Aadhaar numbers.
The NRIs PAN cards have become inoperative, i.e. cannot be used temporarily and not deactivated which could be permanent.
Join the Arthgyaan WhatsApp community: You can stay updated on our latest content and learn about our webinars. Our community is fully private so that no one, other than the admin, can see your name or number. Also, we will not spam you.Once PAN becomes inoperative, the following issues will be seen:
Source: link
NRIs are affected due to non-linkage of PAN and Aadhaar since they have not told the income tax authorities that they are now NRIs and, therefore
NRIs who have been impacted here have either
We will cover this process step-by-step:
Alternatively, on the next trip to India, NRIs can take an online Aadhaar application, physically submit their biometrics in India and then link their new Aadhaar number with PAN to make it operational again.
As per this tweet, taxpayers can
share their details via email at adg1.systems@incometax.gov.in & jd.systems1.1@incometax.gov.in along with a copy of the correspondence sent to JAO
The standard list comprises bank accounts (NRE/NRO), demat, mutual funds etc. The complete list is here: How should an NRI handle investments and accounts in India before shifting?.
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This post titled What should NRIs do if your PAN has become inoperative? first appeared on 21 Jul 2023 at https://arthgyaan.com