Aadhaar Pan Link 272B

This query is : Resolved

Raj Bhatia (Querist)
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05 March 2020 If aadhaar is not linked to pan, what happens to pre existing Bank accounts on which the PAN is attached?
Will these bank accounts be seized/blocked?
Will the owners of the bank accounts get notice under 272b?

Thanks
Raj

Aashok Kumar Sharma online

Aashok Kumar Sharma online

(Expert)
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25 May 2020 SC says it is not mandatory to link Aadhaar with bank accounts. However Aadhaar is mandatory for filing of income tax returns (ITR) and allotment of Permanent Account Number (PAN).

You PAN will become Invalid and you will not be able to carry our large transaction. TDS will be deducted at higher rate.

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