Wednesday, June 16, 2021

Your PAN card will become inoperative from next month if you don’t do this

If your Permanent Account Number is just not linked to your Aadhaar card, your PAN card will flip ineffective from next month. The Central authorities had prolonged the deadline to hyperlink PAN with Aadhaar a number of instances.

Unless the federal government extends the deadline once more, the final date to hyperlink the paperwork is 31 March 2021. All such PAN playing cards which aren’t linked to Aadhaar could be ineffective and declared “inoperative” after the deadline ends. If your PAN is just not linked to your Aadhaar, then from 1 April you will not be capable to do any monetary 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.

How to link PAN with Aadhaar manually

If you wish to link your PAN card and Aadhaar manually, you can visit a service centre for PAN. You will be required to fill in a form ‘Annexure-I’ along with supporting documents – a copy of the PAN card and the Aadhaar card. Unlike online services, this service is not free of charge. An individual is required to pay a prescribed fee to them.

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