The government has extended the deadline to link the Permanent Account Number (PAN) and the Aadhar. Now the last date to link the two is September 30.
Earlier, the last date to link Aadhaar to PAN was June 30, 2021. It was extended from March 31 to June 30.
"Last date of linkage of Aadhaar with PAN under section 139AA of the Act, which was earlier extended to 30th June, 2021 is further extended to 30th September, 2021," a statement from the Ministry of Finance read.
What happens if you don't link PAN with Aadhaar?
The Central Board of Direct Taxes (CBDT) in a notification has said, if anyone fails to link PAN card to Aadhaar card, it will become inoperative. It also clarified that in case users link their PAN with Aadhaar Card after the deadline passes, then the PAN card will "become operative from the date of intimation of Aadhaar number."
In Budget 2021, the central government had also introduced a new section of 234H in the Income Tax Act, 1961. Under this section, it was clear that if a PAN is NOT linked with Aadhaar after the deadline date, then a fine can be levied.
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 open a bank account or deposit/withdraw cash above Rs 50,000 you will be required to submit a copy of your PAN card. On giving the inoperative or wrong PAN card then you could be fined Rs 10,000.
To link your PAN card with your Adhar Card SMS <UIDAIPAN(12 digit Aadhaar number) space (10 digit PAN Number)> at 567678 or 56161.
