PAN-Aadhaar linking by 30 September 2021 is very important because if you do not do this then your PAN card will be invalid and it can hang many big bank related works. Read in detail.
PAN-Aadhaar Linking: If you are going to shop for more than 5 lakhs, then first definitely read this news. If you are going to do expensive shopping then it is very important to stick to your Aadhaar. Constant alerts are being made to link PAN (Permanent Account Number) with Aadhaar. PAN-Aadhaar Linking (PAN-Aadhaar Link Last Date) by 30 September 2021 is very important because if you do not do this, then your PAN card will be invalid and it can hang many big works related to the bank.
The Central Board of Direct Taxes (CBDT) is very strict about this linking. Not only this, if invalid PAN is used anywhere, then there is also a provision to impose fine. First of all, know what are the important things that cannot be done without PAN.
What if PAN is not linked?
1. If you have not linked your PAN-Aadhaar then PAN card will become inactive. And at the same time your KYC will also be invalid.
2. Use of invalid PAN will be a crime, for which you can be fined 1 thousand or more.
3. PAN is mandatory even if you invest money in Mutual Fund. If PAN becomes invalid, then you will not be able to invest money in MF through SIP or any other way.
4. If you try to open an account in the bank or deposit / withdraw more than Rs 50,000, then PAN is also necessary there.
5. If you buy jewelery more than Rs 5 lakh, then PAN card details have to be given in the purchase. Therefore, you cannot buy jewelery with an invalid PAN card.
6. PAN card details have to be given on the purchase of a vehicle of more than Rs 5 lakh. So if you have not linked PAN with Aadhaar, then you cannot even buy a car.
1000 Rupees fine
The Income Tax Department is very strict about PAN-Aadhaar linking. If there is no linking (PAN Aadhaar Link Online), strict action will be taken on Income Tax (Income Tax) PAN card holders under the Income Tax Act. Such invalid PAN card holders will not only be treated as non-PAN card holders, but they can also be fined Rs 1000 or more under section 272B of the Income Tax Act.
Where PAN is required
In today’s time, no important work is possible in India without PAN card. PAN card is necessary for opening a bank account, investing in MF or shares and cash transactions of more than Rs 50,000. If you have linked PAN with Aadhaar, then all such inoperative PAN cards will become operative. This linking can be done through an SMS.
Link to the site like this
Apart from the Income Tax website, PAN-Aadhaar can also be linked to https://www.utiitsl.com/ or https://www.egov-nsdl.co.in/ . Many types of problems have been seen related to the new website of Income Tax.
Do this linking through message (PAN Aadhaar Link By SMS)
- If you want to do the linking through message (PAN Aadhaar Link Status), then to link PAN-Aadhaar with an SMS, SMS will have to be sent to 567678 or 56161. Please refer to this format for messaging.
- UIDAIPAN (12 digit Aadhaar number) space (10 digit PAN).
- If someone has Aadhar card number ABCDXXXXXXXXXX and PAN card number ABCXXXXXXX then the mode of SMS will be ‘UIDAIPAPANABCDXXXXXXXXXX ABCXXXXXXX’.
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