PAN Aadhaar linking deadline: Link PAN card with Aadhaar by March 31 or face Rs 10,000 penalty, check details inside

New Delhi | Jagran News Desk: With less a month left ahead of the deadline (March 31) to link PAN (Personal Account Number) card with Aadhaar card, the Income Tax department could impose a penalty of Rs 10,000 if you are using an inoperative PAN card, says a report from Livemint.

BankBazaar CEO Adhil Shetty said, "Typically when a PAN becomes inoperative, it will be assumed that PAN has not been furnished/quoted as required by the law and a penalty of ₹10,000 may apply as per Section 272B of the Income Tax Act," as quoted by Livemint.

Apart from this, there are several other troubles that people could face for not linking PAN card with Aadhaar after it becomes inoperative on April 1.

Earlier in a notification, the IT department that PAN card would become inoperative if users fail to link PAN card with their Aadhaar card, adding that PAN cardholders will face strict consequences for failing to do the above.

However, if you link your PAN with Aadhaar, it will become operative and no penalties will be charged. 

According to the IT department, operative PAN is essential for 18 key financial transactions. Those who will have an inoperative PAN will face difficulty in several financial transactions such as buying or selling property, bank transactions, investments in stock and mutual funds. 

The tax department had earlier extended the deadline of linking PAN card with Aadhaar card twice in September and December 2019.

Till January 27, 2020, more than 30.75 crore users have linked PAN cards with Aadhaar, but reports suggest that around 17.57 crore PAN card holders are yet to link their PAN cards with Aadhaar.

In order to link the PAN card with Aadhaar, users need to visit the e-filing website of the Income Tax department on a PC. All you need to do is to enter the 10-digit PAN card and 12-digit Aadhaar ID to link the two.