PAN-Aadhaar Linking: March 31, 2021 is the last date to link PAN card to Aadhaar. Failure of Rs 10,000 can also be imposed on you for not doing so.
The Income Tax Department has fixed the deadline for linking PAN with Aadhaar by 31 March 2021. Failure to do so will make the PAN card useless, unless the deadline of PAN Aadhaar linking is not extended. The Income Tax Department has said that PAN card holders who do not link PAN to Aadhaar will have to bear the consequences under the Income Tax Act. If penalty is to be avoided, then link PAN to Aadhaar before the deadline is over.
Under the Income Tax Act, the PAN card holder will not only be considered a non-PAN card holder, but he can also be fined Rs 10,000 under the Income Tax Act 272B. If you go to a bank and deposit or withdraw money to open an account of more than Rs 50,000, then you need to provide your PAN card. If you give incorrect or inactive PAN, you can be fined Rs 10,000.
PAN card is mandatory here
Explain that having a PAN card is mandatory for many tasks like opening a bank account, buying mutual funds or shares, and even doing cash transactions of more than Rs 50,000. However, all such passive PAN cards will become operational when the PAN card holder will link their PAN to Aadhaar.
How to link PAN to Aadhaar by sending SMS
>> Type on your phone: UIDPAN, then write a 12-digit Aadhaar number and then a 10-digit PAN number.
>> Now send the message to 567678 or 56161.
Steps to link PAN and Aadhaar through e-filing website
>> First go to the Income Tax website.
>> Enter the name, PAN number and Aadhaar number given in the Aadhaar card.
>> In the Aadhaar card, tick square only when the year of birth is Mentioned.
>> Now enter captcha code.
>> Now click on the link Aadhaar button.