PAN-Aadhaar Link: If a PAN card is not linked to Aadhaar, these important tasks may get stuck..

Pan Card-Aadhar Card Link: The government had given a deadline of June 30, 2023, to link the PAN card with the Aadhaar, which is now over. Those who did not link their PAN card with Aadhaar within the stipulated time limit, their PAN cards have become inactive. Due to this such people may face problems in many works. Like paying taxes, doing financial transactions buying and selling property, etc.

Let us tell you that the Income Tax Department and the Central Board of Direct Taxes (CBDT) have released a list of such transactions that cannot be done with an inactive PAN card. So let us know what problems those who do not link their Aadhaar with PAN may have to face.

1. Difficulty in getting a tax refund

Taxpayers can file their Income Tax Return (ITR), but if their PAN has become inactive, then it will not be possible for them to claim tax refunds.

2. Will not be able to open a demat account

If the PAN card is not linked to your Aadhaar, then it will not be possible to open a Demat account. Not only this, the purchase of mutual fund units or investments of more than Rs 50,000 will also be banned.

3. Impact on equity investments and share transactions

You will not be able to make a transaction of more than Rs 1 lakh to buy and sell shares or other securities. That is, this can become a big problem for investors.

4. Difficulty in buying and selling a Vehicle

If the PAN card is inactive, you will have to pay additional tax on buying or selling a vehicle. That is, if you have not linked your Aadhaar to your PAN, then you will have to pay more tax than others on buying a vehicle.

5. Impact on bank accounts and fixed deposits

If your PAN card has become inactive, then you will not be able to open a new savings or fixed deposit account. Not only this, it will not be possible for you to deposit more than Rs 50,000 in the bank.

6. Ban on credit and debit card applications

If your PAN has become inactive, then it will not be possible for you to apply for a credit card or debit card.

7. Limit on insurance premium

Due to inactive PAN, the premium of insurance policies will also be affected. Because if this happens, you will not be able to pay a premium of more than Rs 50,000 in a financial year.

8. Impact on property transactions

If the PAN card is inactive, you will have to pay more tax on buying or selling property worth more than Rs 10 lakh. The same rule will apply in the case of stamp duty as well.

9. Impact on the sale and purchase of goods and services

PAN is required for transactions of more than Rs 2 lakh. Therefore, if the PAN has become inactive, you will not be able to make a transaction of more than Rs 2 lakh.

You can reactivate your PAN.

By looking at the list given above, you must have understood what problems those who have not linked their PAN with Aadhaar may have to face. If you are also included in those people, then do not panic. Because PAN can be activated again. But for this you will have to pay a fee of Rs 1,000. After paying the fee, the PAN card will be activated again within 30 days.