Consequences of Non-Linking of PAN with Aadhar
1) PAN will become inoperative.
2)Where a PAN has become inoperative, it will be assumed that PAN has not been furnished/ quoted as required by the law and a penalty of Rs.10,000 may apply as per section 272B of the Income Tax Act.
3) An individual having an inoperative PAN will not be able to conduct financial transactions wherever quoting it is mandatory.
4) An individual may not be able to open a bank account.
5) May not be able to Sell/buy a property, and make investments without PAN etc.
6) Using a non-operative PAN is the same as not having a PAN.
7) You may face higher rates of TDS and may be barred from undertaking financial transactions.