PAN Card Update: People often assume that unless there’s a major transaction, there won’t be any problems with their bank account or financial identity. But the truth is, even a small oversight can lead to your bank account being frozen. People commonly use their Aadhaar card, Voter ID, or driving license in various places, which keeps them aware of the status of these documents. In contrast, PAN cards are used in limited situations, so most people are unaware of whether their PAN card is active or inactive.
Why is an active PAN card necessary?
A PAN card is not only a tax-related document but also the foundation of your financial identity. A PAN card is mandatory for bank accounts, income tax returns, loans, credit cards, and large transactions. If an inactive or defunct PAN card is used by mistake, heavy penalties can be imposed, and in some cases, legal action may also be taken.
Read Here: Samsung Galaxy S24 Ultra- Get 26,000 instant Discount with 200MP Camera
Reasons why a PAN card can become inactive
Many people believe that once a PAN card is issued, it remains active forever, but this is not the case. There can be several reasons for a PAN card becoming inactive. If the PAN is not linked to Aadhaar, the card may become inactive. Having two PAN cards issued in the same person’s name is also a major reason. Additionally, incorrect information on the PAN card, fraudulent use, or violation of rules can also render it inactive. Therefore, it is crucial to check the status of your PAN card periodically.
Problems that can arise from an inactive PAN card
If your PAN card has become inactive and you are unaware of it, it directly impacts your financial life. The bank may freeze your account. You may face difficulties in filing income tax returns or receiving refunds. Your application for a loan, credit card, or any other financial facility may be rejected. In some cases, financial penalties may also be imposed.
Read Here: Ladki Bahin Yojana Update: CM Announces Rs 1500 Instead of Rs 3000
How to check your PAN card status from home
Checking the status of your PAN card is now very easy and does not require visiting any office. You can easily check whether your PAN card is active or not in just a few minutes by visiting the official website of the Income Tax Department on your mobile phone or computer. After selecting the “Verify Your PAN” option on the website, you need to enter your PAN number, full name, date of birth, and mobile number. Once you enter the OTP received on your mobile phone, the screen will clearly display whether your PAN is active or inactive.
