PAN Card Update – Linking your PAN card with your Aadhaar card is mandatory. Many people have not yet linked their PAN card to their Aadhaar card. Only 10 days remain to link your PAN card with your Aadhaar card. You should get this done before the deadline; otherwise, this negligence could prove costly.
If the government deactivates your PAN card for any reason, your financial transactions will be stalled. Both PAN and Aadhaar cards are considered essential documents. Failure to link them can cause difficulties. You can get this done by December 31st at all costs. The process of linking both documents is also easy. Not doing so can also result in losses.
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Consequences of not linking PAN and Aadhaar Card
If both documents are not linked, people may face problems. Many important tasks get stalled without a PAN card. You can link your Aadhaar and PAN card before December 31st. People might be wondering which tasks will be affected if they don’t link them, which could be a major setback.
According to information from ClearTax, if a person does not link their Aadhaar with their PAN, they may face several problems. This could include difficulties in receiving your ITR refund. You may also face problems filing your ITR return next year.
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TCS or TDS will be levied at a higher rate. Opening a bank account may become difficult. There may also be problems with debit and credit cards. You cannot deposit more than the limit in a bank or post office without a PAN card.
How to link the Aadhaar card with the PAN
First, you need to go to the Income Tax e-filing portal.
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Then, click on the ‘Link Aadhaar’ option in the ‘Quick Links’ section.
Then, enter your Aadhaar number and the name as written on your Aadhaar card.
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Then, enter the OTP received on your mobile number linked to your Aadhaar and click ‘Validate’.
This is necessary if you haven’t linked them before and still need to do so. This may require you to make a small payment through ‘e-Pay Tax’.
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After the payment, or directly after OTP verification, the linking request will be sent to UIDAI.
Once confirmed, your PAN will be easily linked to your Aadhaar.