The June 30 deadline for linking your Aadhaar with your pan card has passed. The PAN cards of those who missed the deadline have become inoperable from July 1. If you wish to link your Aadhaar and PAN now, you can do so after paying a penalty fee. If your PAN card has stopped working, you must follow a quick procedure to get it working again. After notifying the prescribed authority and paying a late fee of Rs 1,000, you can make the PAN operational again in 30 days.
On the other hand, if you are wondering what consequences you have to face as a result of not linking your PAN to Aadhar, let us tell you that there will be restrictions on certain transactions that you want to carry out. Here, we list out several transactions you cannot do if your PAN and Aadhaar have not been linked:
You will be able to open a Demat account with a securities depository or other institution.
You will not be able to pay a bill of more than Rs 50,000 at a time at a hotel or restaurant.
You will not be able to pay more than Rs 50,000 in foreign travel or foreign currency.
You cannot apply for a new credit or debit card.
If you want to invest in a mutual fund, then there can be no transaction of more than Rs 50,000.
You will not be able to deposit more than Rs 50,000 rupees in a day in any banking company or cooperative bank.
Transactions of more than Rs 1 lakh will not be allowed to sell any kind of securities.
For bank FDs, investments of more than Rs 50,000 at a time or more than Rs 5 lakh in a year cannot be made from any place like a bank, NBFC, or cooperative bank.
Reserve Bank of India bonds costing more than Rs 9.50 per unit can also not be purchased.