March 31 is the last day to connect your Permanent Account Number (PAN) to your Aadhaar passport. Failure to do so could result in the government taking legal action against you. PAN cards that are not connected to AADHAAR will be considered inoperative or no longer in use on April 1, according to resports. Such PAN card holders are unable to conduct financial transactions that include the use of a PAN number, such as opening a bank account, buying stocks or mutual funds, or transactions exceeding Rs 50,000.
When a PAN card is listed as inoperative, it means that the cardholder is unable to file an ITR because the card has not been issued in accordance with the rule. Noncompliance with the law could result in a fine of Rs 10,000, according to Section 272B of the Income Tax Act.
The deadline for connecting PAN and Aadhar has been extended several times, with the most recent deadline set for March 31. The previous deadline for tying a PAN to an Aadhaar number was June 30, 2020. When applying for a new PAN card, the government has made it mandatory to have an Aadhaar card. Interlinking is performed automatically at the application stage for new PAN card applicants. Current PAN cardholders, on the other hand, must manually interlink their cards before the deadline.
How to link your PAN with Aadhaar
- Visit the incometaxindiaefiling.gov.in e-filing website.
- On the Menu bar, click the ‘Connect Aadhaar’ button.
- Fill in the necessary details, such as your PAN number and the name and number of the Aadhaar card holder.
- Check the information and enter the Captcha Code.
- Select Aadhaar Connection from the drop-down menu.
- There will be a pop-up alert. It will tell you that your Aadhaar has been connected to your PAN successfully.
In September 2018, the Supreme Court ruled Aadhaar to be legally legitimate, ruling that the biometric ID will continue to be required for the filing of income tax returns and the issuance of PAN cards.