New Delhi: The deadline to link the PAN Card with the Aadhar Card is 31 March 2022. The Union government said that more than 43.34 crore Permanent Account Numbers (PAN Card) have been linked with Aadhaar Cards till January this year.
People who fail to link the two cards before the deadline will face severe penalties including the deactivation of their PAN cards and fines. There will be problems in operating Demat and ITR accounts. Also they will not be able to open bank accounts. A fine of Rs 10,000 under the Income Tax Act, 1961, will be imposed if you miss the deadline. They will not be able to file Income Tax Return (ITR). They will also not be able to invest in stock market or commodity market.
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Earlier the largest public sector bank in the country, State Bank of India (SBI) had warned that accounts will become inoperative if customers fail to link the Aadhar Card with Pan.
The Union government has allowed PAN cardholders to link the PAN with Aadhaar card even after the deadline. But such cardholders will have to pay an additional penalty for missing the PAN-Aadhaar link deadline. The amount of fine has not been fixed by the government.
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