PAN Aadhaar Link: Time and again the date has been extended for linking PAN and Aadhaar (AADHAAR) in the country and at present its last date is 31 March 2022. If you do not link Aadhaar with PAN by this last date, then you will have to pay a late fee of Rs 1000.
Do this work before the last date for PAN card holders to link your Permanent Account Number (PAN) with your Aadhar card number by March 31, 2021, as many of your financial works may stop if you do not do so. .
Other disadvantages are also possible
If you do not link your Aadhaar and PAN by the stipulated deadline, then you may have to face many more problems. It is very important for the PAN card holder to link the Aadhar or else his PAN card will be invalid. Paying income tax will not be possible due to invalid PAN card, while many other works will also stop, such as not being able to open a bank account. Mutual funds, stock trading etc. will also stop.
Income Tax Act includes a section with provision for late fees
According to the recently included section 234H of the Income Tax Act, if a PAN card holder fails to link his PAN with Aadhaar card on or before the deadline, he will have to pay Rs 1000 as late fee. .
It is important for every PAN card holder to link his/her PAN with Aadhaar and avoid paying the penalty for missing the PAN-Aadhaar linking deadline.
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