It is necessary to link PAN card with Aadhar by June 30. If you do not do this then you will have to pay a fine of 1000 rupees. This has happened because of Section 234H added in the Income Tax Act 1961, which was passed by the government under the Finance Bill 2021 passed in the Lok Sabha on 23 March.
If you do not link your Aadhaar with PAN by the last date given by the government, then you will have to pay a fine of Rs 1,000 for this and the PAN will also become inactive.
PAN will be deactivated
If a person does not link his PAN with Aadhaar by the last date, then his PAN will become inactive. That is, after June 30, PAN will not be used in financial transactions. That is, wherever PAN is needed, it will not be used there. This will affect all types of banking transactions, mutual fund, demat account opening, new bank account opening. You will not be able to do all these things without a PAN.
Before linking, know whether your Aadhar card is linked with PAN or not.
You can check status like this
First of all go to the official website of Income Tax Department www.incometaxindiaefiling.gov.in i.e. now the new website https://www.incometax.gov.in/iec/foportal. Click on the option of Link Aadhaar at the bottom. Click here to view your status. Fill the details of PAN and Aadhaar on the new window. Check your status. If Aadhaar and PAN have not been linked, then do it immediately.
PAN-aadhar Link: Know how to link PAN with Aadhaar, otherwise fine will be imposed after June 30
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