About 2.50 lakh people of Kanpur city have not linked PAN with Aadhar card, due to which their card has been closed. Due to which we are being deprived of all the facilities of the bank. Have to get out of even the stock market. Under the Income Tax Act, it is mandatory to link PAN made till June 2017 with Aadhaar card. The last date for linking was 30 June 2023. More than 16 lakh people in the city have PAN card. The government had not imposed any fee for linking PAN with Aadhaar till March 2022.
can still link
According to senior CA Deep Kumar Mishra, a large number of cases of not linking PAN with Aadhaar have come to notice in the city. Those whose PAN has not yet been linked to Aadhaar, should link it online by visiting the Income Tax website. One thousand rupees will have to be paid as late fee.
If you are not careful, you will face further problems.
According to senior tax expert Dharmendra Srivastava, lakhs of people in the city have till now been deprived of linking PAN with Aadhaar. This is a serious problem. Go to the website of the Income Tax Department and get linked, otherwise you will face more problems in future. There will be many obstacles in banking and all financial activities.
Loan and credit card will not be available
Canara Bank’s RM Amarnath Pandey says that if there is no PAN card, double tax will have to be paid on the interest received on the amount deposited in the bank account. A customer with PAN has to pay ten percent tax, whereas if there is no PAN, 20 percent TDS will be deducted. While opening a new account, PAN is not necessary but it is definitely asked for convenience.
Many obstacles in purchasing property
Rajendra Kumar, associated with real estate, says that if there is no PAN, there are many hurdles in purchasing property and the fear of action by the Income Tax Department. Especially there will be problems in buying and selling property worth more than Rs 50 lakh. In such a situation, 20 percent TDS will have to be paid, whereas one percent TDS has to be paid in case of PAN.