The State Bank of India (SBI) has issued a notice to its customers informing the account holders to update link their Permanent Account Number (PAN) with Aadhar cards by the end of this month i.e June 30. The state-owned bank further added that failure to do so will impact ongoing services.
India’s largest public sector bank issued the statement on its Twitter handle TheOfficialSBI. “We advise our customers to link their PAN with Aadhaar to avoid any inconvenience and continue enjoying a seamless banking service,” the bank tweeted.
The bank said the PAN will be rendered inoperative or inactive and would not be used for specific transactions, the bank warned.
The last date to link PAN and Aadhar card was March 31, 2021, which was later extended by the Income Tax Department to June 30, 2021 owing to the Covid-19 pandemic.
In an official press release issued on March 31, the bank said, “”Keeping in view the difficulties faced by the taxpayers, the Central Government has issued notification today extending the last date for the intimation of Aadhaar number and linking thereof with PAN to 30th June, 2021.”
Penalty for not linking PAN-Aadhar
According to Finance Bill, 2021, the government introduced an amendment under which a person may be fined a late fee of up to Rs 1,000 in case of non-linking of PAN with Aadhaar.
The Finance Bill (Lok Sabha) has inserted Section 234H to levy a fee for default in intimating the Aadhaar number. If a person is required to intimate his Aadhaar under Section 139AA(2) and such person fails to do so, they will be liable to pay a fee, as may be prescribed, not exceeding Rs 1,000 at the time of making such intimation.
