The Central Government has once again extended the last date for linking the two most important documents of the country, Aadhar Card and PAN Card. Its deadline has been extended by six months. Now you can get these two important documents linked with each other till 31st March 2022. Earlier its deadline was ending on 30 September 2021.
Deadline is March 31, 2022
Along with increasing its deadline, the last date for completing the penalty process under the Income Tax Act has also been extended to 31 March 2022. The Central Government has also extended the last date for issuing notices and passing orders by the competent authority on the transaction of benami properties. However, to avoid any inconvenience, these two documents should be linked together as soon as possible.
may have to pay a fine
PAN card is required for opening a bank account, banking transactions, mutual fund transactions, stock market investments. If you do not link it with Aadhar card even by March 31, 2022, then investors may have to pay a fine of up to Rs 10,000 for banking transactions of 50,000 or more. Not only this, if these two are not linked, then double TDS can be deducted by the bank.
These difficulties may come
If you have not linked your PAN with Aadhar yet, then you may face a lot of problems. Under Section 139AA of the Income Tax Act, if your PAN is not linked with Aadhaar, your PAN card will be considered invalid. Apart from this, if you are not linked, you will not be able to file your ITR. Your tax refund may also get stuck. If you want to avoid all these troubles, then link your PAN with Aadhaar immediately.
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