A Permanent Account Number which is generally known as PANCard is a ten-character alphanumeric identifier. This is the form of a laminated PAN Card. This card is issued by the Income Tax Department. However, this document is considered the most important nowadays. In order to perform financial transactions by the citizens in some cases, a PAN card is necessary. This indicates that every citizen should have a PAN card number. Those who might be thinking that people below the age of 18 cannot have PAN cards. As they can but there are certain rules and regulations specific for them, their parents are required to operate the functions. The Central Government has asked people to link PAN with the Aadhaar card. But those who have not done this yet need to do this as soon as possible due to the following reasons.
Laste date to link PAN with Aadhaar
The government has extended the date to link PAN with Aadhaar is 31 March 2021. as those who will not link both the documents with each other, their PAN will be declared useless. It will be considered inoperative after the deadline ends. It your PAN is not linked to your Aadhaar, then from 1 April 2021, you will not be able to do any such financial transaction.
Penalty for not linking Aadhaar with PAN
Those who will try to perform the financial transactions without linking the two documents by the deadline. According to the law, they will have to pay Rs 10,000 as a penalty. This may apply as per Section 272B of the Income Tax Act. As being one of the most important documents for making financial transactions PAN is very necessary. Without having a PAN card you cannot perform cash transactions of over Rs 50,000.
Steps to link you PAN and Aadhaar
- First, you can go to the income tax department’s e-filing portal.
- Later click on the link Aadhaar section which will be found on the left.
- Now fill in the PAN number, Aadhaar number, and your name.
- Fill the CAPTCHA code
- Click at the Link Aadhaar option to your PAN Aadhaar.
- Now the linking will get complete.
- The I-T department will validate your name, date of birth, and gender against Aadhaar details which the Linking will be done.
- You can also link your Aadhaar with PAN through SMS.
- Just send UIDPAN (12-digit Aadhaar number) (10-digit PAN) and then send it to 567678 or 56161.