New Delhi, 19/3: The Income Tax Department has fixed a deadline within which all PAN cards in India must be linked to Aadhaar. The last date to link your Permanent Account Number (PAN) with your Aadhar card is March 31, 2021. After the deadline ends PAN cards that are not linked to Aadhaar would be useless and declared ‘inoperative’.
The Income Tax department said that, Inoperative PAN cardholders will have to face ramifications under the Income Tax Act for not furnishing PAN. It is to be noted that a PAN card is mandatory for opening a bank account, cash transactions over Rs 50,000, and buying mutual funds or shares.
After the deadline ends, the PAN holder will be treated as non-PAN cardholders. Additionally, they can also be fined a penalty of Rs 10,000 under Section 272B of the Income Tax Act.
To link your PAN card with your Adhar Card SMS <UIDAIPAN(12 digit Aadhaar number) space (10 digit PAN Number)> at 567678 or 56161.