Linked PAN to Aadhaar? Yet to do? This may hurt your Mutual Fund SIPs - Check deadline and steps to follow

If you invest in Mutual Funds through SIP, then there is an important news for you. If you have not yet linked your PAN and Aadhaar, then get it done by June 30. If the linking of your PAN-Aadhaar is not done within this deadline, then the SIP of your mutual fund will be stopped.

This is because if your PAN is not linked with your Aadhaar, it will become invalid or inoperative because of which your KYC will remain incomplete.

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June 30, 2021, which is the deadline for PAN-Aadhaar linking has been fixed by the central government. If you are unable to link the two, then you will also incur a penalty of Rs 10,000 under the Income Tax Act.

According to AK Nigam, Director of BPN Fincap, if your PAN-Aadhaar is not linked within the government's fixed deadline, then your PAN will be considered invalid. In such a situation, the KYC of your mutual fund will also become invalid. Therefore, it is necessary that the mutual fund subscriber must get the PAN linked with the Aadhaar by June 30.

How to link PAN with Aadhaar?

Step 1: Visit the new website of Income Tax at www.incometax.gov.in.

Step 2:  Register on it (if not already done). Your PAN (Permanent Account Number) will be your user id.

Step 3: Log in by entering the User ID, password and date of birth.

Step 4: A pop up window will appear, prompting you to link your PAN with Aadhaar. If not, go to ‘our services’ and click on ‘Link Aadhaar’.

Step 5: Details such as name date of birth and gender will already be mentioned as per the PAN details.

Step 6: Verify the PAN details on screen with the ones mentioned on your Aadhaar. Please note that if there is a mismatch, you need to get the same corrected in either of the documents.

Step 7: If the details match, enter your Aadhaar number and click on the “link now” button. After that enter the OTP received on the registered mobile number.

Step 8: A pop-up message will inform you that your Aadhaar has been successfully linked to your PAN.