NRIs with Inoperative PAN are Requested to Intimate Residential Status to AO | CBDT

  • News|Blog|Income Tax|
  • < 1 minute
  • By Taxmann
  • |
  • Last Updated on 19 July, 2023

Recent Posts

Blog, News, Company Law

SEBI Revises CRA Policies on Post-Default Curing and Removes the Term ‘Technical Default’ from Master Circular

Blog, GST & Customs

Cross-Border Digital Services Taxation – Egypt VAT and India GST Overview

Latest from Taxmann

NRIs with Inoperative PAN

News, dated 18-07-2023

Non-resident Indians (NRIs) and Overseas Citizenship of India (OCIs) have raised concerns regarding their PANs becoming inoperative, despite being exempted from linking PAN with Aadhaar. Additionally, PAN holders whose PANs have become inoperative due to non-linking with Aadhaar have expressed concerns about the consequences.
In light of this, the following clarifications are provided by the Income-tax Dept. on its Twitter handle:

  1. The Income Tax Department has mapped the residential status of NRIs based on their filed income tax returns (ITR) in the last three assessment years or if they have informed their Jurisdictional Assessing Officer (JAO) about their residential status. PANs have been rendered inoperative if any of these criteria are not met. NRIs with inoperative PANs are requested to inform their respective JAOs about their residential status along with supporting documents, requesting an update in the PAN database.
  2. Individuals can still file their Income Tax Returns (ITR). Only following are the consequences of ‘inoperative’ PAN:
    • Pending refunds and interest on such refunds will not be issued to inoperative PANs; and
    • Tax will be required to be deducted/collected at a higher rate for inoperative PANs in accordance with section 206AA/206CC.
Click Here To Read The Full Update

Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.

Leave a Reply

Your email address will not be published. Required fields are marked *

«
»

Everything on Tax and Corporate Laws of India

To subscribe to our weekly newsletter please log in/register on Taxmann.com

Author: Taxmann

Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
  • Every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that's easy to read and remain consistent across all imprint and digital publications are applied