Aadhar and PAN Cards have been deactivated by a large number as part of the new mechanism to find the tax evaders. According to the sources, 81 lakhs of Aadhar Cards have been deactivated along with 11 lakhs of PAN Card. In case if you have done something that does not really follow the rules, and then you are probably on the list. However, it is very important to check the status of the card to ensure that you do not run into trouble.
The decision came after the Income Tax Department urged all the citizens to Link the Aadhar Card with the PAN Card mandatorily for filling the TAX Returns in 2017-18.
How to check
The Aadhar Card status can be checked from the UIADI homepage. There is a separate option for verifying your Aadhar Card which should be filled. Once filled, the server returns with the result as usual in the case of no issue, however, it returns to the data does not exist in the case of the deactivated Aadhar.
For PAN Card, the process is similar. If you visit the Income Tax E-filling website, you should get the Verify PAN option under services where you have to provide the PAN, Date of Birth and other details. It should give you the complete recorded result in the case of no deactivation.
Is your Aadhar and PAN card still active? Check it here –
Click here to – Verify the Aadhar Card
Click Here to – Verify the PAN Card
How it would impact the market
The market which has not seen quite a stability in last few days may struggle further. People who have invested in the market but has got their PAN card deactivated, however, stands at huge risk. Aadhar and PAN cards are almost required for the financial transaction these days to bring transparency to the economy and this can become a setback. There are people who may not be able to withdraw money for some days. For the near future, that can provide some stability in coming days.
People may have to be very careful now with the transactions they do and the Tax they pay. The margin of error is very light.