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It is now mandatory to Complete Video Kyc Of PAN to complete income-tax-related tasks such as filing returns on income.
The last date to Complete PAN Video Kyc has been extended. Under the provisions of the Income-tax Act, 1961, every person who has been allotted a PAN as on 1st Jun, 2022 and is eligible to obtain Pan, is required to intimate his Pan to the prescribed authority on or before 25th Jun, 2022. On failure to do so, his PAN shall become inoperative and all procedures in which PAN is required shall be halted. The PAN can be made operative again upon intimation of Pan to the prescribed authority after payment of a prescribed fee.

In order to mitigate the inconvenience to the taxpayers, a window of opportunity has been provided to the taxpayers upto 25th of Jun, 2022 to intimate their Pan to the prescribed authority for PAN Video Kyc without facing repercussions. As a result, taxpayers will be required to pay a fee of Rs. 500 up to three months from 25th Jun, 2022 and a fee of Rs.1000 after that, while Completing Pan Video Kyc.

INCOME TAX
PAN Video Kyc last date extended: Complete Kyc by this date to avoid making your PAN card inoperative
It is now mandatory to Complete the Video Kyc with PAN to complete income-tax-related tasks such as filing returns on income.

Updated: Jun 1st, 2022 10:54:34 pm

PAN Video Kyc Completing, last date to Complete PAN card Kyc, extended, fine, how to Kyc with PAN, Income Tax, inoperative PAN,
To Complete Kyc with the PAN card, one may go to the e-filing website of the Income Tax Department.

The last date to PAN Video Kyc has been extended. Under the provisions of the Income-tax Act, 1961, every person who has been allotted a PAN as on 25th Jun, 2022 and is eligible to obtain Pan, is required to intimate his Pan to the prescribed authority on or before 25th Jun, 2022. On failure to do so, his PAN shall become inoperative and all procedures in which PAN is required shall be halted. The PAN can be made operative again upon intimation of Pan to the prescribed authority after payment of a prescribed fee.

In order to mitigate the inconvenience to the taxpayers, a window of opportunity has been provided to the taxpayers upto 25th of Jun, 2022 to intimate their Aadhaar to the prescribed authority for Kyc-PAN Card without facing repercussions. As a result, taxpayers will be required to pay a fee of Rs. 500 up to three months from 25th Jun, 2022 and a fee of Rs.1000 after that, while intimating to Completing their Pan Kyc


However, till 25th Jun, 2022 the PAN of the assessees who have not intimated their Kyc, will continue to be functional for the procedures under the Act, like furnishing of return of income, processing of refunds etc.
After 25th Jun, 2022, the PAN of taxpayers who fail to intimate their Pan, as required, shall become inoperative and all the consequences under the Act for not furnishing, intimating or quoting the PAN shall apply to such taxpayers.

The government through a notification issued on Jun 1st has brought in Income-tax (Third Amendment) Rules, 2022 to be effective from the 1st day of Jun, 2022. The rules makes it clear for every person to Complete Video Kyc with PAN number, failing which one will be liable to pay a fine.
It is now mandatory to Video Kyc with PAN to complete income-tax-related tasks such as filing returns on income. This move has been made by the government after its come to their notice that fake PAN numbers are being used.

According to the notification, where a person fails to Complete his Kyc with his PAN by 1st Jun 2022, the person will be liable to pay a late fees upto Rs 1,000 and further, the existing PAN number will become inoperative,” says Neeraj Agarwala, Partner, Nangia Andersen LLP