SHORT ANSWER:
The penalty for not linking PAN with Aadhaar is a fine of up to ₹1,000.
DETAILS:
- As per the Income Tax Act, it is mandatory to link PAN with Aadhaar.
- Failure to link may result in the PAN becoming inoperative.
PUNISHMENT / IMPLICATIONS (if applicable):
- An inoperative PAN may lead to difficulties in filing income tax returns and conducting financial transactions.
SOURCE:
- Income Tax Act, 1961
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