I don’t need to remind you how important your PAN Card and Aadhaar Card are, to avail of government scheme benefits and to execute several financial tasks. But many ID holders are moving closer to getting into trouble. The government had advised multiple times to link your PAN with your Aadhaar. The deadline to do so is also extended multiple times, but with the latest advisory, the government has made it clear that it will not be extended further. And this time after March 31, 2023, people will be fined and their PAN Card will become deactivated.
PAN is No Longer Valid After March 31, 2023
The problems will not end here for the PAN holders, they will not be able to purchase digital assets like stocks, or invest in mutual funds. Wherever the PAN Card is required for authenticity they will not be able to show it.
₹10,000 Fine If Invalid PAN Is Exercised
A person producing a non-valid PAN Card will be fined seriously under section 272N of the Income Tax Act 1961. The assessing office may impose a fine of up to ₹10,000.
PAN And Aadhaar Can Be Linked Online With These Steps:
- Visit the official website of income tax.
- Enter your details such as Name, Permanent Account Number and Aadhaar Number.
- Also, tick the checkbox if only the year of bright is mentioned on Aadhaar.
- Now go for the verification process and fill in the captcha to get the OTP.
- Next, click on Link Aadhaar.
- With these steps, your PAN will be linked with your Aadhaar.
Linking Permanent Account Number And Aadhaar Through SMS:
- First type UIDPAN, then type your 12-digit Aadhaar Number and 10-digit PAN Number and send it to 567678 or 56161 via your registered mobile number.
Also read:What Is RBI’s Digital Rupee?, Here Are The 10 Points About The Pilot Launch
How To Activate An Inactive PAN Card?
- Inactive PAN Cards can also be activated through an online process. You will have to send an SMS on 567678 or 56161, after typing your 10-digit PAN Card number and 12-digit Aadhaar number after a space. Send it through your registered mobile number.