PAN Inoperative Without Aadhaar: Higher Tax Rates Waived if Linked by May 31, 2024, for Transactions Until March 31, 2024. https://www.taxtmi.com/highlights?id=77678 The circular modifies the consequences of a PAN becoming inoperative u/r 114AAA of the Income-tax Rules, 1962. Failure to provide Aadhaar number u/s (section) of the Act will result in the PAN becoming inoperative. Consequences include higher tax deduction and collection rates until the PAN becomes operative again. - For the transactions entered into upto 31.03.2024 and in cases where the PAN becomes operative (as a result of linkage with Aadhaar) on or before 31.05.2024, there shall be no liability on the deductor/collector to deduct/collect the tax at higher rate. en-us Wed, 22 May 2024 07:20:00 +0530 Wed, 22 May 2024 07:20:00 +0530 TaxTMI RSS Generator PAN Inoperative Without Aadhaar: Higher Tax Rates Waived if Linked by May 31, 2024, for Transactions Until March 31, 2024. https://www.taxtmi.com/highlights?id=77678 The circular modifies the consequences of a PAN becoming inoperative u/r 114AAA of the Income-tax Rules, 1962. Failure to provide Aadhaar number u/s (section) of the Act will result in the PAN becoming inoperative. Consequences include higher tax deduction and collection rates until the PAN becomes operative again. - For the transactions entered into upto 31.03.2024 and in cases where the PAN becomes operative (as a result of linkage with Aadhaar) on or before 31.05.2024, there shall be no liability on the deductor/collector to deduct/collect the tax at higher rate. Highlights Income Tax Wed, 22 May 2024 07:20:00 +0530 https://www.taxtmi.com/highlights?id=77678