Aadhar card must be linked with PAN
Posted on: 08/Apr/2017 11:02:24 AM
Aadhar card must be linked with the relevant PAN cards before 1st July. An expert on Income Tax explained that failure to link Aadhar with PAN will entail a penalty of Rs. 10000 for each financial transaction.
Because of the heavy penalty involved, the expert advised the public to link their Aadhar cards with PAN cards at the earliest.
He observed that all public must be made aware of this development. The link of Aadhar and PAN cards is effective from 1st July 2017.
If the link is not done, each transaction will be registered with the message that PAN card details are missing. The people without PAN card must apply for the same immediately furnishing Aadhar card details.
The expert informed that all financial transactions over Rs. 2 Lakhs must be done through net banking or account transfer. Failure to do this will entail a 100 percent penalty.
