Aadhaar-PAN link last date tomorrow: What happens if you fail to do so?

Pan-Aadhaar link last date: Centre had earlier fixed the last date to link the cards as March 31

The last date to link the Aadhaar card and PAN card has been fixed at June 30. The Centre had earlier fixed the last date to link the PAN and Aadhaar cards as March 31, 2023. This was, however, later postponed.

While linking the two cards, the users will have to pay a fine of Rs 1,000. However, if these are not linked by the deadline, there are several consequences a user may have to face.

PAN-Aadhaar link check: How to check if your cards are linked or not

1. Visit the official e-filing portal of the Income Tax Department (https://www.incometax.gov.in/iec/foportal/).
2. Click on "Link Aadhaar Status" under the "Quick Links".
3. Enter the PAN and Aadhaar number and click "View Link Aadhaar Status".
4. If your Aadhaar and PAN are not linked, a pop-up menu on the screen will show "PAN not linked with Aadhaar. Please click on the "Link Aadhaar" link to link your Aadhaar with PAN."
5. If the cards are linked, the message will say, "Your Aadhaar is linked with PAN".

PAN-Aadhaar link online: Step-by-step guide here

 

1. Visit the Income Tax e-Filing portal (incometaxindiaefiling.gov.in).
2. Click on the "Link Aadhaar" option.
3. Enter your PAN, Aadhaar number, and name as per Aadhaar in the relevant fields.
4. Verify the details and submit.
5. Upon successful linking, a confirmation message will be displayed on the screen, and an OTP will be sent to your registered mobile number.

Why has the Centre made PAN-Aadhaar linking necessary?

The main reason behind making the linking of PAN cards and Aadhaar cards mandatory was to reduce the duplication of PAN cards. Multiple PAN cards issued to the same person lead to inaccuracy in calculating and collecting tax. It also makes it difficult for authorities to track tax evasion.

The mandatory linking of the two cards is expected to improve compliance and reduce tax evasion in India.

PAN-Aadhaar link last date: What happens if you do not link the two cards by the last date?

If the PAN and Aadhaar cards are not linked by March 31, 2023, it can lead to the following:

1. PAN Card will become inoperative until linked with the Aadhaar Card
2. TCS and TDS deductions will attract a higher rate
3. Investors will not be able to carry any transactions on NSE and BSE
4. Depositors will not be able to book a fixed deposit (FD) above Rs 50,000
5. Depositors will not be able to obtain new debit or credit card
6. Investors will not be able to redeem their mutual funds

Who is exempted from PAN-Aadhaar linking?

Indian citizens with the age of above 80 are not required to link the two cards. Also, non-residents and non-citizens are not required to link PAN and Aadhaar cards.