Income Tax Department declared that all Permanent Account Number (PAN) cards will become invalid after 31st March 2020 if they are not linked with Aadhaar before 31st March 2020. Income Tax Department has issued the last date for linking PAN Card with Aadhaar.
According to a report shared by Livemint, till 27th January 2020 more than 30 Crores PAN Cards already linked with Aadhaar but still 17 Crores PAN Cards linking is still pending.
According to Central Board of Direct Taxes (CBDT), “Any person, who has been allotted the Permanent Account Number (PAN) as on 1st July 2017 then is required to link his Aadhaar number under sub-section (2) of section 139AA, if he failed to link the same on or before March 31, 2020, the Permanent Account Number of that person will become inoperative immediately after the said date for the purposes of furnishing, intimating or quoting under the Act,”
If any person fails to link his PAN Card with Aadhaar Card after 31st march 2020 then Income Tax Department will keep an eye on his account activities as well as he will have to pay penalty under the I-T Act for not adhering to the country laws.
PAN Card and Aadhaar Card Linking have become necessary after a decision taken by Supreme Court in September 2018. Many times linking date is extended and now the final date is 31st March 2020. This linking is necessary for filling the Income Tax returns and issue of new PAN Cards.