If your Permanent Account Number is not linked to your Aadhaar card, your PAN card will turn useless from next month. The Central government had extended the deadline to link PAN with Aadhaar several times. Unless the government extends the deadline again, the last date to link the documents is 31 March 2021. All such PAN cards which are not linked to Aadhaar would be useless and declared “inoperative” after the deadline ends. If your PAN is not linked to your Aadhaar, then from 1 April you will not be able to do any financial transaction.
An inoperative PAN card may lead to a penalty
If you fail to link the two documents by the deadline and your PAN becomes inoperative, it will be assumed that your PAN has not been furnished as required by the law and a penalty of ₹10,000 may apply as per Section 272B of the Income Tax Act.
Why is PAN mandatory?
Having a PAN card is mandatory for several purposes like opening a bank account, buying mutual funds or shares and even making cash transactions of over ₹50,000.
PAN Aadhaar card linking: How to do
- To link your PAN with Aadhaar, you can go to the income tax department’s e-filing portal.
- Click on the Link Aadhaar section on the left.
- You need to fill PAN number, Aadhaar number and name.
- Fill in the CAPTCHA.
- Click at the ‘Link Aadhaar’ option and your PAN Aadhaar Linking will get complete.
- The I-T department will validate your name, date of birth and gender against Aadhaar details after which the linking will be done.
How to link PAN with Aadhaar through SMS?
If you are unable to link your PAN and Aadhaar using the e-filing website of the department, then you can link your PAN with the Aadhaar number by sending an SMS to 567678 or 56161 from the registered mobile number. In order to do so, you need to type UIDPAN and send it.
Here is the format: UIDPAN (12-digit Aadhaar number) (10-digit PAN) and send it to 567678 or 56161…Read more>>