In the Corona period, if you do not link your Permanent Account Number (PAN) to the Aadhaar card by June 30, your PAN card will become inactive from the following month. That is, you will not be able to use your PAN. The Income Tax Department has fixed the last date for linking all PAN cards in India with Aadhaar. The Finance Ministry had extended the time limit for linking PAN card to Aadhaar card for the tenth time. So if you have not yet linked your PAN card to Aadhaar card, then get it done before June 30.
In its statement, the Income Tax Department has said that inactive PAN card holders will have to bear the consequences under the Income Tax Act for not linking their PAN to Aadhaar. Those passive PAN card holders will not only be treated as having no PAN card, but can also face a fine of Rs 10,000 under Section 272B of the Income Tax Act. For example, if you go to a bank and try to open an account or withdraw or deposit more than 50,000, then you will need a PAN card. If you give an inactive or incorrect PAN card at that time, you can get an invoice of Rs 10,000. Under the provision, such a person can be fined.
For your information, let us tell you that all the inactive PAN cards will be activated after the completion of the linking process. Currently, it is very important to have a PAN card. PAN card is required for opening bank accounts, buying mutual funds or shares and for transactions of more than 50,000. Similarly, to get the PAN card linked to the Aadhaar card, you have to go to the e-filing portal of the Income Tax Department and click on the link Aadhaar section. There you will have to provide your PAN number, Aadhaar number and name information. After this the Income Tax Department will confirm your name, date of birth and gender. After this the linking will be completed.
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