PAN-Aadhaar link: Your PAN card can become inoperative after March 31 - Do this now!

New income tax notification: Your PAN card can become inoperative if you have failed to link it with your Aadhaar card, the income tax department has said in a new notification. The circular released on February 13 says that any taxpayer who was issued a permanent account number as on the 1st day of July, 2017 is required to link it with the Aadhaar card, as per rule 114AA of the income tax.

"114AAA. Manner of making permanent account number inoperative. (1) Where a person, who has been allotted the permanent account number as on the 1st day of July, 2017 and is required to intimate his Aadhaar number under sub-section (2) of section 139AA, has failed to intimate the same on or before the 31st day of March, 2020, the permanent account number of such person shall become inoperative immediately after the said date for the purposes of furnishing, intimating or quoting under the Act," the new notification reads.

It added that any person whose PAN card becomes inoperative, needs to furnish, intimate or quote his permanent account number under. If not, the person will be liable for all the consequences under the Act for not furnishing, intimating or quoting the permanent account number.

WATCH Zee Business TV LIVE Streaming Online -

However, the notification clarifies that the PAN card will once again become operative if the person has initiated his Aadhaar number after March 31, 2020.

“(3) Where the person referred to in sub-rule (1) has intimated his Aadhaar number under sub-section (2) of section 139AA after the 31st day of March, 2020, his permanent account number shall become operative from the date of intimation of Aadhaar number for the purposes of furnishing, intimating or quoting under the Act and provisions of sub-rule (2) shall not be applicable from such date of intimation,” the notification read.

In case you don't want to go through the trouble or create more confusion, you should try to get the two documents linked before March 31.