Mumbai. Have you linked your PAN card with Aadhaar? If you haven't done it, take it tomorrow or else be ready to pay double the fine. The last date for linking PAN with Aadhar card was 31 March 2022. Then it was extended till 30 June 2022 with fine. Now the last date of June 30 will also end this month. After that you will have to pay double the fine. After March 31, a late fee of Rs 500 was imposed. That is, if you do not link PAN and Aadhaar by June 30, then you will have to pay a fine of Rs 1000.
Disadvantages of not linking
Linking of PAN-Aadhaar card has now been made mandatory. Failure to do so will result in the PAN card being closed. It is not that this problem will remain only till the PAN card is closed. Rather you say that your problem will increase after this. You will neither be able to open a demat account, nor a bank account, nor will you be able to start an account to invest money in mutual funds. Think of it like this, after linking Aadhar and PAN card, PAN will be closed. Meaning you will not be able to take advantage of any such facility where PAN card is necessary and now PAN card has been made mandatory in almost all the places. Therefore, if you have not done this work yet, then get Aadhaar linked with PAN immediately.
How to link
To link your PAN and Aadhaar, visit the Income Tax e-filing website. Enter your PAN and Aadhaar number in the form. Enter your name as per your Aadhar card. If only your year of birth is mentioned on your Aadhar card, then you have to tick the box.