Winning Bizness Desk

Mumbai. Despite repeated government orders and appeals every year to link Aadhaar card with PAN card, there are at least 11.5 crore PAN cards in the country which have not yet been linked to Aadhaar. According to sources, the government is in a mood to cancel these PAN cards. In fact, a recent RTI filed in the Central Board of Direct Taxes (CBDT) office has revealed that a total of 11.5 crore PAN cards can be deactivated due to not being linked to Aadhaar card by the June 30 deadline. Notably, Out of 70.24 crore PAN card holders in the country, 57.25 crore have linked their PAN card with Aadhaar. Whereas more than 12 crore PAN cards are still not linked. Sources in the Finance Ministry have indicated that about 11.5 crore of these cards may be deactivated due to non-compliance with the rules. If the government wants, it can also take action under relevant sections. Interestingly, this matter is also going on in the High Court and Supreme Court of some states. However, it is not mandatory for residents of the states of Assam, Jammu and Kashmir and Meghalaya or those who are above 80 years of age to link Aadhaar with PAN.

The new PAN card is automatically linked

It has been told in the RTI that PAN and Aadhaar should have been linked by the date or deadline informed by the government, but 1.5 crore PAN cards have not been linked despite repeated notices and deadlines. Let us tell you that linking is done automatically for those who make a new PAN card. But for existing PAN holders before July 1, 2017, it is mandatory to link their PAN and Aadhaar. The Central Board of Direct Taxes imposes a fine of Rs 1,000 for activating a deactivated PAN card. Here the government has once again appealed that if someone has not been able to link Aadhaar with his PAN, then his PAN is now deactivated and if he wishes, he can reactivate it by providing his Aadhaar details to the Income Tax Department.

Why don't you link

According to experts, if the fraudsters link Aadhaar with PAN, then they need only one document to commit online fraud. If Aadhaar is linked to PAN, then the cases of bank fraud or online fraud will increase manifold. Because for bank fraud, even if you have only Aadhaar information, you can easily get the details of your bank account by fraudsters or hackers.

Why is linking important?

Linking PAN-Aadhaar helps in eliminating 'duplicate' PANs and preventing tax evasion. The Income Tax Department has said that according to the Income Tax Act 1961, PAN card holders who do not fall in the exempted category, should link their PAN with Aadhaar in any case.

What kind of problems will arise?

• Credit card cannot be issued
• Any type of FD will be useless
• Difficulty in opening bank accounts
• Problem in getting loan
• Difficulty in any type of investment
• Prohibition of mutual fund investment
• Problem in operation of accounts in banks
• Problem in transaction through online app
• Problem in necessary KYC
• Problem in property transaction
• Problem in insurance work
• Will not be able to open demat account
• Problem in payment transactions of Rs 50000+