All PAN card holders must link their cards with their Aadhaar cards before June 30. Otherwise, they may end up paying a hefty fee of whopping Rs 10,000, if they don’t do it. The deadline to link your PAN card with Aadhaar cards is June 30, 2020. After that, not only can your PAN card become inoperative but you will also end up paying a massive amount, as per Section 272B of the Income Tax Act.
Earlier, the deadline to finish the process was March 31, 2020. But, Finance Minister Nirmala Sithraman had declared an extension till June 30, due to nationwide lockdown because of coronavirus.
According to the current income tax laws, if the two cards are not linked, PAN card will become ‘inoperative’. The income tax department had before announced that any PAN that is not linked will be declared as “inoperative.” Now, in its new notification, the IT department has clearly said that such PAN cardholders shall face consequences under the Income Tax Act.
What can happen if you don’t link your PAN card with aadhaar card?
Firstly, you won’t be able to use your PAN card from July 1 onward. It will be assumed that you failed to furnish the document & a penalty of Rs 10,000 may apply as per Section 272B of the Income Tax Act.
But, the transactions done in the past using it will remain valid. When you link both the numbers after the specified deadline, your PAN should become active. If you have not yet filed your ITR, then remember you will not be able to file it after the deadline is gone.
Steps to link Aadhaar card with PAN card
Step 1: To check if your PAN card is already linked with the Aadhaar card, first log on to the official website of the income tax department @ incometaxindiaefiling.gov.in.
Step 2: To link the two cards, you have to click on ‘Link Aadhaar’ option on the website. The, you will be redirected to a new page where you need to fill all details like your PAN Card number, Aadhaar number and your name. If there is a change in name between Aadhaar and PAN, one has to fill the name whichever is correct.
Step 3: Third is by SMS. You just need to send SMS on 567678 or 56161. Format of the SMS is UIDPAN<SPACE><12 digit Aadhaar><SPACE><10 digit PAN>. It is to be noted that no charge is being levied on the SMS sender by NSDL or UTI. But, you will have to pay the SMS charges being levied by the mobile operator company.