Don’t Ignore This Message From Your Bank As It Can Cost You A Fine Of 1,000 Rupees

Don’t Ignore This Message From Your Bank As It Can Cost You A Fine Of 1,000 Rupees

Have you and your family members linked the PAN to Aadhaar? If not, and your bank is sending you a message or email related to PAN-Aadhaar, then do not ignore it. Because now the hardness has increased a lot. Even though CBDT has increased the deadline of PAN Aadhaar Link, strict action will be taken against those who do not do so. In this, not only may you have to lose your PAN, but you will also be fined. Let us know that the last date of the PAN-Aadhaar Link is 30 June 2021.

According to the Income Tax Department, if the PAN-Aadhaar link is not there, the Income Tax (PAN) holders of Income Tax will have to face strict action under the Income Tax Act. That is, such PAN cardholders will not only be considered non-PAN holders but can also be fined up to Rs 1000 under Section 272B of the Income Tax Act.

If you did not link PAN Aadhaar, then you may face a lot of difficulties. For example, if you try to open an account or deposit / withdraw more than Rs 50,000 in a bank, PAN will have to be given. In such a case, you can be fined if you give an incorrect or inactive PAN. Under the provisions, a penalty can be imposed for every such non-compliance.

PAN card is necessary for opening a bank account, investing in MF or shares and cash transactions of more than Rs 50,000. If you have linked PAN to Aadhaar, then all such inoperative PAN cards will become operative. This linking can be via an SMS.

How to link pan-aadhaar card online

PAN-Aadhaar can also be linked to or besides the income tax website.

Also, to connect PAN-Aadhaar to an SMS, one has to send an SMS (SMS) to 567678 or 56161.

SMS in this format

UIDAIPAN (12digit Aadhaar Number) Space (10 digit PAN).

If one has Aadhaar card number ABCDXXXXXXXXXX and PAN card number ABCXXXXXXX then the SMS method would be “UIDAIPANABCDXXXXXXXXXX ABCXXXXXXX”.