PAN Card Aadhaar Card Link: The central government has mandated the linking of Aadhaar with the PAN Card, with the deadline having lapsed on June 30, 2023. Following this date, the PAN card was set to be deactivated; however, a court has issued a stay on this action. If you have not yet linked your Aadhaar and PAN, you may encounter significant obstacles in various important tasks. Failure to link these documents could hinder your ability to gain college admission, open a bank account, or conduct business activities. Specifically, without linking your Aadhaar to your PAN, you will be unable to open a bank account, as this linkage is now a prerequisite for account opening at all banks.
You can face difficulties in these places
Moreover, if your PAN and Aadhaar are not linked, you will be unable to file your income tax return, and you will not be eligible to claim any refunds associated with an inactive PAN card.
Additionally, the lack of linkage between your Aadhaar and PAN will impede your investment activities, preventing you from investing in mutual funds.
If your PAN and Aadhaar are not connected, you will also be unable to open a demat account for investment purposes.
Furthermore, without the linkage of these two documents, you will be restricted from making payments exceeding Rs 1 lakh in a single transaction for the purchase or sale of any securities, excluding shares.
Lastly, you will not be able to open any accounts other than Fixed Deposit and Savings Accounts at banks or cooperative banks that have not linked PAN to Aadhaar. Additionally, you will be limited to depositing no more than Rs 50,000 in such banks or cooperative banks.