PAN-Aadhaar Not Link Effects: The last date to link PAN card with Aadhaar was June 30. If PAN is not linked by this date, your PAN card will be deactivated. That is, you will not be able to do many things. Here are 15 things related to money, which you can’t do.
The government created the Permanent Account Number (PAN) document to easily retrieve information related to taxpayers’ investments, loans and other business activities collected to detect tax evasion. can be done According to experts, linking PAN with Aadhaar is mandatory for many financial transactions. You cannot do these transactions without PAN. For example, cash transactions, buying and selling of shares, taking loans from banks are many.
If the PAN card is inactive, this 15 Transactions will not take place
According to the Income Tax Department website, 15 financial transactions cannot be completed.
If If your PAN is not linked, you will not be able to open an account from a cooperative bank to a private bank.
Credit and debit cards also cannot be created
Demat account cannot be opened for investing in stock market
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One time payment of 50,000 rupees for foreign travel
Not more than 50 thousand rupees can be paid at one time
Payment of more than 50 thousand rupees at one time in mutual fund
Not even 50 thousand rupees can be paid to any institution
Not more than 50 thousand will be paid at a time even for buying bonds in Reserve Bank of India
An FD in any bank or in any scheme Rs. Investment of more than 5 lakhs will not be possible.
Not more than 50 thousand will be paid for taking bank draft, pay order or cheque
As premium to a life insurance company during the financial year Rs. Payment above 50,000
Prohibition on share transaction above 1 lakh
Tax deduction on payment from inactive PAN
Motor vehicle or two wheeler Sale or purchase of any vehicle except
Sale or purchase of any immovable property above 10 lakhs
Purchase and sale of items above 2 lakhs will attract additional tax
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