Link Your PAN With Aadhaar To Continue Seamless Banking Services, SBI Says

One of the most essential chores the government wants you to complete this year is linking your Permanent Account Number or PAN with your Aadhaar number. On February 18, 2022, the State Bank of India (SBI) in a tweet has asked its account holders to link their PAN with their Aadhaar card before March-end, 2022. This comes after the Central Board of Direct Taxes (CBDT) has set March-end 2022 Aadhaar-PAN linking deadline. In light of the Covid-19 pandemic, CBDT has repeatedly postponed the deadline for linking Aadhaar and PAN, the agency has made it plain that completion is mandatory.

The bank added, if the customers don't link the PAN with Aadhaar, they'll face inconvenience in banking services. PANs that are not linked with Aadhaar by the deadline would be regarded as invalid, according to the Bank.

"We advise our customers to link their PAN with Aadhaar to avoid any inconvenience and continue enjoying a seamless banking service," SBI tweeted.

The current deadline for linking the PAN-Aadhaar is March 31, 2022, set by CBDT. In addition, if you do not link your PAN to Aadhaar by the deadline, your PAN will become inactive, and you will be subject to a number of penalties.

The government has inserted 234H into the Income Tax Act of 1961, which is a new clause. If the linking task is not completed by the deadline, the authorities might impose a penalty on the individual.