The Income Tax Department has set 31st March 2021 as the last date for PAN-Aadhar linking.
An individual may face double trouble on failure to link your Aadhaar with PAN by the end of this month. First, your PAN will become inoperative and secondly, you may be fined Rs 10,000 if you use an inoperative PAN.
If you do not link your PAN with Aadhaar by March 31, then your PAN will become inoperative from April 1. Central Board of Direct Taxes (CBDT), through a February 13, 2020 notification, had said that a PAN not linked with Aadhaar by March 31, 2020 will become inoperative.
An individual having an inoperative PAN may face trouble in several financial transactions like banking transactions, buying or selling of a property, investments in stocks and mutual funds.
For example, 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 Rs 50,000. However, all such inoperative PAN cards will become operative as and when the PAN card holder carries out PAN Aadhaar linking.
There is a simple procedure you need to follow so as to link you PAN and Aadhar i.e. through an SMS, one needs to send an SMS at 567678 or 56161. Format of the SMS is ‘UIDAIPAN(12digit Aadhaar number) space (10 digit PAN Number).’
For instance, if someone has an Aadhaar Card number ABCDXXXXXXXXXX and PAN Card number ABCXXXXXXX then the format of the SMS will be “UIDAIPANABCDXXXXXXXXXX ABCXXXXXXX”.
However, there are people who have done the PAN Aadhaar Linking but they need to check whether their PAN is seeded with the Aadhaar number or not. For that, they need to click on the direct link of the Income Tax Department website incometaxindiaefiling.gov.in/aadhaarstatus. Enter PAN and Aadhaar number and go to the ‘View Link Aadhaar Status.’ Their PAN Aadhaar Link Status will get displayed.
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