Your PAN Card Will Be Invalid If Not Linked With Aadhaar; 20 Crore PAN Cards Can Be Blocked!
The last date for linking the PAN and Aadhaar cards has been pushed back quite some times, but the latest update is 1 September 2019 is the deadline for those who still haven’t linked their PAN card to their Aadhaar card.
The Government has declared that if the PAN card is not linked to the Aadhar Card, the former will be invalidated post the deadline: September 1, 2019.
The government of India has also announced some new rules about linking the PAN card to Aadhar card. Read on to know the details!
Link Your PAN Card to Aadhaar Card By September 1, 2019
Finance Minister Nirmala Sitharaman has recently declared in her maiden budget speech, that Aadhaar and PAN cards will be interchangeable, i.e., either can be used for the purpose of filing income tax returns. However, interlinking them both is now mandatory.
The last date of linking the PAN card to the Aadhaar card has been changed for about six times up until now, with the latest deadline being September 1, 2019. This time the Government has warned that if the PAN card is not linked to the Aadhaar card, the PAN card will be rendered invalid.
This Income Tax Department credits this decision to some obtained reports that revealed it being misused to get illegal loans or to get credit cards.
New PAN Will be Issued If Not Linked to Aadhaar
The Government has also declared another important update: if an Aadhaar card is used for a transaction, and it hasn’t been linked to the PAN card, the old PAN will be invalidated and a new PAN number will be assigned from the Income Tax Department.
As of now, there are about 43 crore PAN card holders in India and 120 crore Aadhaar card holders, of which 18 crore PAN cards have not been linked to Aadhaar cards. This means that if not linked before September 1, more than 20 crore PAN cards will be invalidated.
With all the latest developments going on about the PAN and Aadhaar card, there is a definite possibility that India will soon be a country where every citizen will have a single social number on which every transaction and other details will be registered.
If you haven’t linked your PAN card to your Aadhaar card yet, get it done by September 1! See detailed instructions on how to link your PAN Aadhar.