Save a total of 1000 rupees if you have PAN cards, Know full details about this government scheme

The government had set 31 December 2021 as the deadline for linking PAN and Aadhar cards. For those who have not linked their PAN card with Aadhaar to this date, there is a rule of a fine of Rs 1,000. In such a situation, if you want to avoid many other problems
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Save a total of 1000 rupees if you have PAN cards, Know full details about this government scheme

If you have a PAN card then there is good news for you. Because now you are getting a chance to save 1000 rupees on your PAN card. You have this chance only till 31st March.

The government had set 31 December 2021 as the deadline for linking PAN and Aadhar cards. For those who have not linked their PAN card with Aadhaar to this date, there is a rule of a fine of Rs 1,000. In such a situation, if you want to avoid many other problems along with a fine of 1000 rupees, then link PAN and Aadhar cards immediately. Now the deadline for this has been extended to 31 March 2022.

may be fined

Under this rule, the government has made a special rule in the budget to bring a provision of fines against those who will not link Aadhaar and PAN cards. Last year in the budget, the government had passed the Finance Bill for this. A rule has been laid in the Finance Bill that those who do not link PAN cards and Aadhaar, may have to pay a fine of Rs 1000. For this, a new section 234H has been added to the Income Tax Act.

government changed rules

The rule says that according to the new section of the Income Tax Act, it is necessary to link PAN and Aadhar cards within the stipulated period. If any person does not do this, then an amount will be recovered from him as a fine, which can be up to a maximum of 1000 rupees. The best way to avoid this is to link a PAN card and Aadhar card.

What happens if you don't do it?

The loss of not doing the PAN-Aadhaar link (The aadhaar PAN link last date) is not just a fine of thousand rupees. There may be many types of financial problems which the PAN cardholder may have to face. If these two documents are not linked, then the PAN will become invalid and all the work related to it will stop. With this, mutual funds will not be able to be done in shares nor will they be able to open any new bank account. Nor will you be able to do the KYC of the old one. A valid PAN card is required for this type of work.

will not be able to use the pan card

If the card is invalid, you will not be able to use it. If a person uses an illegal PAN card, then a fine of Rs 10,000 can be imposed against him. If the PAN card becomes invalid, then a person cannot even file Income Tax Return (ITR). Therefore, the PAN card holder's
He must get both the documents linked before the PAN-Aadhaar link last date and take measures to avoid economic losses.