If the PAN is not linked to Aadhaar, many doors of investment will be closed for you.
The Central Government has already moved the period of making Aadhaar and PAN card a link (link Aadhaar-PAN) many times. Now you have only 31 March 2021 left for this work. Let us know that if you do not link the PAN card to Aadhaar by the deadline, then what kind of problems will you face?
PAN will be disabled if not linked
The Central Government has passed Section 234H added to the Income Tax Act 1961 under the Finance Bill 2021. It was passed in the Lok Sabha on 23 March. Under Section 234H, if you do not link your Aadhaar with PAN by the last date fixed by the government, then you will be fined a maximum of Rs 1,000. If you are not able to do so by the last date, then your PAN will be deactivated. With this, you will not be able to use PAN in financial transactions from 1 April 2021. If you understand in easy language, you will have trouble in the transaction where PAN will be required.
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If you do not link PAN to Aadhaar, you will have a lot of difficulty in opening a mutual fund, demat account or new bank account along with banking transactions. Actually, if the Aadhaar-PAN is not linked, your PAN will become inactive and without PAN, all these things will not happen to you. If you understand in easy language, without PAN card, many investment options will be closed for you. It is also believed that the government will not extend the date for this work because the budget proposals will be implemented from 1 April 2021. Let us know how you can link your Aadhaar with PAN online while sitting at home…
This is how you can link online
>> First go to the Income Tax website.
>> Enter the name, PAN number and Aadhaar number given in the Aadhaar card.
>> In the Aadhaar card, just tick the square if given the year of birth.
>> Now enter captcha code.
>> Now click on the link Aadhaar button
>> Your PAN will be linked to Aadhaar.
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This is how you can link through SMS
You have to type UIDPAN on your phone. After this, write the 12-digit Aadhaar number. Then write the 10 digit PAN number. Now send the message mentioned in step 1 to 567678 or 56161.
How to turn on the passive pan
Inactive PAN card can be turned on. For this, you have to make an SMS. After entering the 12-digit PAN number from your registered mobile, you will have to enter a 10-digit Aadhaar number and send an SMS to 567678 or 56161.