The deadline to link with PAN Aadhaar ends this month

The deadline to link with PAN Aadhaar ends this month


Highlight:

  • The time limit for linking PAN card with Aadhaar has expired
  • The deadline is March 31
  • Unlinked PAN cards will be invalid

New Delhi: The deadline for linking PAN card with Aadhaar ends on March 31. Those who have not yet completed the linking may have to pay a fine of up to Rs 10,000. Penalties are levied under the Income Tax Act. Indications are that PAN cards not linked to Aadhaar will become inoperable after the specified time limit.

IT return filers are also required to provide their Aadhaar number. Last year, the government had extended the connection between PAN Aadhaar from June 30, 2020 to March 31, 2021 for nine months. The government had extended the deadline several times .The government had tweeted about this last year.

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PAN card is required for many activities like transactions above Rs 50,000, deposits and opening of bank accounts. Since PAN card is mandatory for high cash transactions, PAN card is also required for high value financial transactions. Therefore, the PAN must be linked to Aadhaar.

If the PAN card does not work, you will not be able to apply for another PAN card.
Financial transactions may be disrupted, including the inability to open a new bank account, sell or buy property. It is also noteworthy that higher TDS may be charged without a PAN card.

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