PAN-Aadhaar Link Alert: What Happens If You Don’t Link by December 31?
The Income Tax Department of India has made it mandatory to link your PAN (Permanent Account Number) with your Aadhaar. The deadline for linking is December 31. Failing to do so can have several consequences:1. PAN Will Become InoperativeIf your PAN is not linked with Aadhaar by the deadline, it may become invalid or inoperative. This means you cannot use it for:· Filing income tax returns· Conducting financial transactions that require PAN2. Penalties May ApplyNon-linking can attract penalties under the Income Tax Act, although the exact fine may vary. It’s best to avoid the risk altogether.3. Trouble in Financial TransactionsPAN is required for various financial activities, including:· Opening a bank account or mutual fund account· Buying or selling property· Making high-value transactions like investments in securities or depositsIf your PAN becomes inoperative, these transactions may be blocked or delayed until the link is completed.4. Easy Linking OptionsLinking is simple and can be done online via:· The Income Tax e-filing portal· SMS: Send UIDPAN<12-digit Aadhaar><10-digit PAN> to 567678 or 56161It’s recommended to link your PAN and Aadhaar well before the deadline to avoid last-minute hassles. Disclaimer:The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of any agency, organization, employer, or company. All information provided is for general informational purposes only. While every effort has been made to ensure accuracy, we make no representations or warranties of any kind, express or implied, about the completeness, reliability, or suitability of the information contained herein. Readers are advised to verify facts and seek professional advice where necessary. Any reliance placed on such information is strictly at the reader’s own risk.