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Take a double look at your Aadhaar photo before applying for online loans. Video KYC uses machine-based face recognition and if the photo on your KYC documents do not match with the one captured in video KYC, the application can be rejected.
Owing to Covid-19 outbreak in the country, the government recently had extended the deadline to link PAN with Aadhaar card to June 30. To ensure compliance, bank are issuing notices to its customers to link their PAN and Aadhaar card.
Bank notice
Some prominent banks across the country like State Bank of India (SBI) and HDFC Bank have recently issued notices in this regard to their customers. If they fail to do so, they may face difficulty enjoying a seamless banking service, banks have warned.
‘We advise our customers to link their Permanent Account Number (PAN) with Aadhaar to avoid any inconvenience and continue enjoying a seamless banking service,’ SBI said in a tweet.
The country’s largest lender further clarified that, ‘the linking of PAN with the Aadhaar is mandatory. If PAN and Aadhaar are not linked, then PAN will be rendered inactive and cannot be quoted for conducting specified transactions.’
Just like SBI, the HDFC Bank also started to send messages to its customers requesting linking of PAN and Aadhaar on or before 30 June. Otherwise smooth functioning of banking transactions may be interrupted, they warned.
PAN-Aadhaar link mandatory
It may be recalled, in the Finance Bill 2021, the government introduced a new section which mandates linking PAN and Aadhaar. Failing to do so would attract a penalty of Rs 1,000, which will be over and above the penalties for holding an inoperative PAN. Besides, your PAN will also become inoperative and according to tax experts, non-compliance may attract higher TDS or TCS.
PAN Aadhaar Link status check online
If you have already linked the PAN and Aadhaar but are not sure about the status go to the direct link of the Income Tax Department website — incometaxindiaefiling.gov.in/aadhaarstatus. Enter PAN and Aadhaar number and go to the ‘View Link Aadhaar Status.’ The PAN-Aadhaar linking status be displayed on your screen.