Did link your PAN card to Aadhaar, Actually, the last date for linking PAN card with Aadhaar is 31 March and you have only 28 days left. If you do not get this done, then your PAN card will be deactivated, but you can also face a fine of 10,000 rupees.
If you remember, a few days ago, the tax department had announced that if you did not link both of them by the due date, then your PAN card would be deactivated. But now the department has issued a new notification and said that if the linking work is not completed by 31 March, then under the Income Tax Act, serious consequences will be faced and a fine of Rs 10,000 can also be imposed.
If the tax department is found to be using a passive or canceled PAN after 31 March, then it will be fined under Section 272B of the Income Tax Act, which can amount to Rs 10,000. A notification was issued by the tax department on 13 February and it was said that by 31 March, if the taxpayers do not link the PAN and Aadhaar card, the PAN card will become inactive.
What happen if Pan card not linked?
If your PAN card gets canceled then you will face many kinds of difficulties. Like you will not be able to do banking transactions. You will not be able to buy and sell the property. Not only this, you will be deprived of investing in shares and mutual funds. Generally speaking, even if you have a PAN, you will not be able to do the work that requires a PAN.
Also know: The work of extending the last date for linking PAN to Aadhaar has been done many times. At present, this deadline will end on 31 March 2020. After this, the possibility of pushing it further is negligible. According to the tax department, 30.75 crores PAN has been added from Aadhaar till 27 January 2020. However, 17.58 crore PANs are yet to be linked to the 12-digit Aadhaar.