Financial transactions i.e. work related to money will get stuck. You will not be able to use your PAN card for these works.
If PAN and Aadhaar are not linked by June 30, then your PAN card will become inactive. The Central Board of Direct Taxes (CBDT) has said in its notification that if your PAN becomes inactive from July 1, 2021, you will not be able to use it for financial transactions where it is mandatory to provide PAN. These include investing in fixed deposits, filing income tax returns, etc.
Further, once the PAN is deactivated, it will be assumed that the person does not have a PAN. However, in the event of PAN deactivation, your earlier financial transactions will not be affected. Prior to the new law, if PAN is not linked with Aadhaar, financial transactions done in the past would have been affected before the PAN was considered invalid. Changes were brought in the law to protect such transactions.
They will also have trouble in filing GST etc. with ITR and taking advantage of other government schemes. In such a situation, we have brought all the information related to Aadhaar and PAN card for you today, with the help of which you can do all the work.
If your PAN has become inactive and you use that PAN card to withdraw more than Rs 50,000 from your bank account, then you will have to pay a fine of Rs 10,000. Also, without a PAN card, you will not be able to withdraw a large amount. Also, you will have to pay a fine for every such transaction with an inactive PAN.
However, the inoperative PAN card can be made operative. For this you have to do an SMS. You have to go to the message box and after entering the 12 digit PAN number from your registered mobile, enter the 10 digit Aadhaar number by giving space and SMS to 567678 or 56161.
Check Status like this: You have to first click on the link https://www1.incometaxindiaefiling.gov.in/e-FilingGS/Services/AadhaarPreloginStatus.html. Now you have to enter your PAN and Aadhar number. Now you have to click on View Link Aadhaar Status. The link status of Aadhaar and PAN will now be visible in front of you on the second tab.
