What Happens if PAN is not linked with Aadhar

 

Here are some question related to what happens if Aadhar Card will not linked with PAN card.

Linking of PAN card with Aadhar Card date has been extended from March  31 to June 30. The people who had not yet linked it can link it within the last date June 30.

What happens if PAN is not linked with Aadhaar?

IAs per the CBDT, if  the customer fails to link PAN with the Aadhaar card by the end of the deadline, his/her PAN will become inoperative and he/she will not be able to use the PAN card in any type of financial transactions wherever it is required. After the deadline he can link  Aadhar with PAN, but he will be charged of fine Rs1000

What happens if PAN becomes inoperative?

A PAN card is used for carrying out financial transactions, open a bank account, sell or buy a property and make investments. If your PAN becomes inoperative, you can not perform these tasks where PAN is mandatory. A person may also face higher rates of TDS and may be barred from undertaking financial transactions.

What if the PAN is linked with Aadhaar after the due date?

According to CBDT, once the PAN card is linked with Aadhaar, then it will become operative from the date on which it has been linked with Aadhaar. However, during the process of linking PAN with Aadhaar, a penalty of Rs 1,000 will be charged on the customer under  section 234H. After linking PAN with Aadhaar, a person can quote their PAN, wherever quoting it is mandatory.

What if I use an inoperative PAN?

Where a PAN has become inoperative, it will be assumed that PAN has not been furnished/quoted as required by the law and a penalty of Rs 10,000 may apply as per section 272B of the Income Tax Act.

Report on extended date of linking Aadhar card with PAN Click Here