PAN-Aadhaar linking: Do it before March 31 or else pay Rs 10,000 fine

Permanent Account Number (PAN) cardholders who fail to link it with their Aadhaar card will have to furnish a huge penalty after the deadline ends on March 31. A penalty of Rs 10,000 will be levied on those failing to comply with the March 31 deadline, the Income Tax Department said.

The penalty falls under Section 272B of the Income Tax Act, which states “If a person fails to comply with the provisions of section 139A, the Assessing Officer may direct that such person shall pay, by way of penalty, a sum of ten thousand rupees.”

The Income Tax Department had said that PAN will become inoperative if not linked with Aadhaar by March 31. However, it will again become operative once the individual links it with the Aadhaar card.