Central Board of Direct Taxes (CBDT) has confirmed that it is not going to extend the deadline for linking PAN with Aadhaar card. The current deadline is set at March 31st, 2021. Beyond this date, all PAN cards not linked with Aadhaar would likely be deactivated and people using a deactivated PAN for regular transactions may be fined up to Rs. 10,000 under Section 272B of the Income Tax Act.
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You can face problems in carrying out various financial transactions without a PAN card. It can become difficult to deposit an amount more than Rs. 50,000 in the bank, mutual fund investment, investments in stocks, sell or purchase of property, etc.
AN inoperative PAN card is similar to having no PAN card. PAN Cards not linked with Aadhaar would be deactivated on April 1st 2020. You can get the PAN card verified by linking it with Aadhaar card on or before 31st March 2020.
You can link the PAN card with Aadhaar online or through SMS. You mobile number should, however, be linked with Aadhaar to avail both the facilities. Click here to know the complete process.
CBDT has extended the PAN Aadhaar linking deadline several times but this time it has notified through a circular on February 13th 2020 that the deadline would not be extended and PAN cards will be deactivated for sure.
1 Comment Comments
GOOD.