According to the Income Tax Department, every Indian citizen is required to link their Aadhar Card and PAN Card by March 31, failing which their PAN Card will become inoperative.
While there used to be no fee for Aadhar-PAN linking till March 31, 2022, an amount of Rs 500 was necessary between April 30 and June 2022. And from last July to March 31, the concerned PAN cardholders need to pay Rs 1,000 on the e-filing website.
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The Income Tax website suggests separate steps for customers of different banks.
Customers of Union Bank of India, UCO Bank, Punjab National Bank, Kotak Mahindra Bank, Karur Vyasa, Jammu and Kashmir Bank, IndusInd Bank, Indian Overseas Bank, Indian Bank, IDBI Bank, ICICI Bank, Federal Bank, City Union Bank, Central Bank of India, Canara Bank, Bank of Maharashtra, Bank of India, Bank of Baroda, and Axis Bank
If there is no further extension in the deadline for linking PAN and Aadhar Cards and the concerned individuals fail to complete the process, their PAN cards will become inoperative after March 31. The Income Tax Department is unlikely to extend the deadline.
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Cardholders whose PAN Cards become inoperative will be required to apply for a new Permanent Account Number (PAN) and get it linked to their Aadhar, introducing greater hassle to their lives. Therefore, it’s better to complete the linking process by March 31.
The Income Tax Department is expected to soon provide more clarity on what steps people who failed to link their PAN and Aadhar by the deadline need to follow.
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