New Delhi: Less than a week's time is left to link your Permanent Account Number (PAN) with Aadhaar card as the government has announced that the deadline for linking the two identification documents is March 31. It is worth noting that in case you fail to link your PAN with Aadhaar, your PAN will become invalid.


Additionally, those who miss the deadline will also have to pay a late fine of Rs 1,000. 


According to the Finance Bill, 2021, Central government has introduced an amendment under which a person will be liable to pay a late fee of up to Rs 1,000 in case he/she does not link PAN with Aadhaar card.


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As per reports, PAN cards not linked with Aadhaar will be declared inoperative or no longer in use from April 1 and the person will not be able to carry out financial transactions wherever quoting of PAN is mandatory.


These transactions includes filing income tax return (IRT), opening bank accounts, applying for loans, buyingshares or mutual funds and transactions above Rs 50,000 and others.


In case your PAN is declared 'inoperative', you will not be able to file ITR because it has not been furnished as per law. According to Section 272B of the Income Tax Act, the person also be fined Rs 10,000 for not adhering to the rule.


It is to be noted that deadline to link PAN with Aadhaar card has been extended several times by the government and the latest deadline ends on March 31. The previous deadline for linking PAN with Aadhaar was June 30, 2020.


For those who want to apply for new PAN card, it is mandatory for them to furnish their Aadhaar cards and in such cases, interlinking is done automatically at the application filing stage. For old PAN cards, one has to manually interlink it with Aadhaar before the deadline ends.


Here's How To Link Your PAN With Aadhaar:


Step 1: Log on to the official webiste of Income Tax e-filing - incometaxindiaefiling.gov.in


Step 2: Click on the 'Link Aadhaar' button on the homepage menu bar


Step 3: Fill details like PAN number, Aadhaar number and holder's name


Step 4: Verify details and fill capcha code 


Step 5: Click on link Aadhaar