Link PAN- Aadhaar: If you have not yet linked your Permanent Account Number and Aadhaar Card, then this negligence is going to be very heavy on your pocket. For this, not only will you face a fine of Rs 10,000, but your PAN will also become illegal. For this, you have only 2 days left, in such a situation, immediately link your PAN and Aadhaar.
March 31 is Deadline
Actually this exercise is part of a new amendment to the Finance Bill, 2021 passed in the Lok Sabha. While passing, the government has added a new section (Section 234H) in the Income Tax Act, 1961, which will impose a fine on all those who will not link their PAN card to Aadhaar till 31 March 2021.
Otherwise PAN will be useless!
Although this penalty will be less than 1000 rupees, it will not be more than this. The government will fix the amount of penalty on those who will not do it before the scheduled time. But the problem will be that the PAN of such people will be ‘inoperative’, that is, it will not be used for any financial work, because PAN is a mandatory document for all financial work.
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How to link your PAN-Aadhaar online
To link the Aadhar PAN through an SMS, an SMS has to be sent to 567678 or 56161. It has a fixed format, SMS UIDAIPAN (12digit -Aadhaar number) SPACE (10 digit PAN number) like if someone has Aadhaar card number ABCD12345678 PAN card number is WXYZ123456 then SMS format will be “ABCD12345678 WXYZ123456”.