PAN Aadhaar linking deadline extended: Deadline to link PAN and Aadhaar cards has been extended. Now you can link your PAN card and Aadhaar card till March 31, 2021. The old deadline to link PAN and Aadhaar was June 30, 2020. Now, by March 31, 2021 all Permanent Account Numbers (PAN) in India will have to be linked with respective Aadhaar numbers.
If any person fails to connect his PAN number with Aadhaar, his PAN card will become inoperative within a month. Persons with inoperative PAN cards will be considered equivalent to those who do not possess a PAN card. Such persons may also be fined Rs 10,000 under the Income Tax Act.
PAN cards are mandatory to open bank account, buy shares and mutual funds. PAN number is also necessary for making cash transactions above Rs 50,000.
Linking of Aadhaar and PAN takes place automatically if someone applies for a new PAN card. But for existing PAN card holders, it is mandatory to link their PAN number with Aadhaar card.
Linking of Aadhaar and PAN can be done on Income Tax Department’s e-filing portal and also by sending SMS.