It is well known that every Indian Citizen has to link their Pan(Permanent Account Number)with Aadhar. Though Indian Government extends the deadline several times due to covid, as per the trusted sources CBDT(Central Board of Direct Taxes)is not keen to extend the deadline anymore.
Thatmeans every Indian Citizen has to link their Pan with Aadhar on or before March31st,2022. It is better to plan in advance as there might be technical glitches in the income tax portal on due date.
What if Pan is Not Linked To Aadhar–
- If Pan is not linked to Aadhar before March 31st,2022 your pan would become inoperative
- You can’t do high networth transactions in banks and investments (mutual funds, shares and Real Estate)
- You will be fined 10,000 Rupees as Penality by the assessing officer under Section 272N as per the Income Tax Act 1961
- You can’t do financial transactions in banks as before
To avoid all these. link your Pan with Aadhar before the deadline March31st,2022.