In today’s digital age, the importance of PAN card and Aadhaar card is not hidden from anyone. Be it opening a bank account, taking a loan or filing income tax returns both these documents are required in every financial process. For this reason, the government has made it mandatory to link PAN and Aadhaar. But there are still lakhs of people who have not completed this process, due to which their PAN card has become inactive.
If a person uses an inactive PAN card in financial transactions, he can be fined up to ₹ 10,000 under section 272B of the Income Tax Act. This rule also applies to those who have more than one PAN card. The Income Tax Department has clarified that only one PAN card will be valid in the name of a person.
PAN card is a 10-digit alphanumeric identity card issued by the Income Tax Department. It contains the name, date of birth and unique PAN number of the holder, which is used in all financial transactions. If you have not yet linked your PAN to Aadhaar, then this process is very easy.
For this, you have to visit the official website of the Income Tax Department. Click on the “Link Aadhaar” option there, then enter your PAN and Aadhaar number. After the verification is completed through OTP, your PAN will be linked to Aadhaar.
Keep in mind, linking PAN-Aadhaar is not only a legal requirement, but is also important for your financial security. If you have not done it yet, then complete this process as soon as possible and avoid possible penalties.