The country’s largest public sector bank State Bank of India (SBI) has issued an important notice for its customers to link their PAN card with Aadhaar before September 30, 2021. If customers fail to do so within the stipulated time frame, they will face difficulty in availing banking services. The government has made it mandatory to link PAN card with Aadhaar.
Currently, the deadline for linking PAN-Aadhaar is 30 September. As the deadline is approaching, SBI has appealed to its customers to link PAN with Aadhaar at the earliest.
Consequences of not linking PAN-Aadhaar till September 30
In the Finance Bill, 2021, the government introduced an amendment, under which a person will have to pay a late fee of up to Rs 1,000 in case of non-linking of PAN with Aadhaar.
If a person fails to link PAN and Aadhaar by the deadline, he will have to pay a fee of Rs 1,000. This fee will be in addition to other consequences that a person has to face if PAN becomes inoperative due to non-maintenance of Aadhaar.
Remember that if you fail to link the two documents by the new deadline and your PAN becomes inoperative, it is presumed that the PAN required by law has not been furnished and as per section 272B of the Income Tax Act 10,000 may be fined.
Link via SMS
You can also link PAN-Aadhaar through SMS. If you want to do PAN-Aadhaar linking with the help of message, first of all type UIDPAN in SMS chat box then 12 digit Aadhar number SPACE 10 digit PAN number by typing to 567678 or 56161 Must message.
Link Aadhaar-PAN through new income tax e-filing website
Step 1: Visit the new income tax e-filing website incometax.gov.in.
Step 2: Click on ‘Our Services’.
Step 3: Enter PAN and Aadhaar details.
Step 4: Please enter the Mobile-Number.
Step 5: Tick on I agree to validate my Aadhaar details.
Step 6: Click on Link Aadhaar.
Let us tell you that PAN is mandatory for many financial transactions including opening bank accounts, cash deposits in bank accounts, opening demat accounts, transactions in immovable properties and transactions in securities.
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