ADVANTAGES OF LINKING AADHAR AND PAN: LINK IT BEFORE 30 SEPTEMBER TO AVOID DISRUPTION IN BANKING SERVICES

Advantages of linking PAN and Aadhar

The linking of PAN and Aadhar has been made mandatory by the Government of India and several deadlines have been announced for linking it.

The latest deadline announced by the government for linking PAN and Aadhar is 30th September, 2021.

Non-linking of your PAN with Aadhar might lead to several inconveniences in your banking operations and other financial-related matters.

Some advantages of linking and not linking of PAN and Aadhar are given below:

Disadvantages of not linking Aadhar and PAN:

Some of the disadvantages of not linking Aadhar and PAN are:

• PAN might become inoperative
• Disruptions in banking services
• Disruptions or problems in payments for credit cards and debit cards
• Trouble in online payment through mobile banking, net banking or UPI
• Higher tax deduction at source (DTS) on interest, dividend and other incomes
• Discontinuation of systematic investments (SIPs) in mutual funds, etc.
• Demat and trading accounts may become inactive or inoperative

Advantages of Linking PAN and Aadhar:

Some of the disadvantages of not linking Aadhar and PAN are:

• Keeping PAN operative or active
• Hassle-free banking services and transactions
• Hassle-free usage of credit cards and debit cards
• Uninterrupted online payments through mobile banking, net banking or UPI
• Avoid higher TDS on income earned from Fixed deposits or other incomes (if applicable)
• Avoid higher TDS on declared dividends
• Continuation of SIPs
• Keeping Demat and Trading accounts active or operative

If you haven't linked your Aadhar and PAN yet, do it so by clicking here

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