The last date for linking your Aadhaar with your PAN (permanent account number) is March 31, 2021. Every person who has been allotted PAN as of July 1, 2017 and who is eligible to obtain the Aadhaar number, is required to link the two.
This move is to weed out undetected duplicate PANs and prevent the misuse of PAN and potential tax frauds.
If you are unsure as to whether or not the two are linked, you can check it here.
If you have not done it, here is the link to get it done immediately.
If you choose to do so without going online, you can send an SMS. From your registered mobile number:
- Type UIDPAN
- LEAVE A SPACE
- Type 12-digit Aadhaar
- LEAVE A SPACE
- Type 10-digit PAN
- Send it to 567678 or 56161
If you choose not to, your PAN will become invalid, and you will have to pay a penalty of Rs 1,000.
An invalid or inoperative PAN means that you will not be in a position to file your income tax return. So that means another penalty for non-compliance.
An inoperative PAN is a hindrance to various financial transactions. Rule 114B of the Income-Tax Rules prescribes 18 types of financial transactions where quoting PAN is mandatory, such as the sale or purchase of a vehicle, opening a bank account or applying for a credit or debit card, and opening a demat account.
So please ensure that you comply with this requirement.
