If your PAN becomes invalid because of non-linkage with Aadhaar, you will not be able to invest in mutual funds.
As per current Income Tax Rules, it is mandatory to link your Aadhaar card to your PAN, on or before June 30, 2021. If anyone fails to link the PAN card to the Aadhaar card, it will become inoperative. Consequently, KYC status will also get invalid.
To invest in Mutual Funds, you must have a valid PAN. If your PAN becomes invalid because of non-linkage with Aadhaar, you will not be able to invest in mutual funds.
It’s not just your mutual fund investment that will come to a halt, but if you fail to link your PAN and Aadhaar, most of your investment-related activities will be stopped. Fresh investments or redemptions will be prohibited. Your previous and ongoing systematic investment plans (SIPs) will also be stopped.
Also, The Income tax department will levy a fee of Rs 10,000 if you fail to link your PAN card and Aadhaar before June 30. Therefore, mutual fund subscriber must link their PAN with Aadhaar by June 30.
A step-by-step guide to link PAN card with Aadhaar card
Step 1: Visit www.incometax.gov.in.
Step 2: Register on it, if you have not registered. Use your PAN (Permanent Account Number) as user id.
Step 3: Login by entering the user id, password, and date of birth.
Step 4: A pop-up window will appear, prompting you to link your PAN with Aadhaar. If not, go to ‘our services’ and click on ‘Link Aadhaar’.
Step 5: Details such as name, date of birth, and gender will already be mentioned as per the PAN details.
Step 6: Verify the PAN details on the screen with the ones mentioned on your Aadhaar. Please note that if there is a mismatch, you need to get the same corrected in either of the documents.
Step 7: If the details match, enter your Aadhaar number and click on the “link now” button. After that, enter the OTP received on the registered mobile number.
Step 8: A pop-up message will inform you that your Aadhaar has been successfully linked to your PAN.
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 "Your Mutual Fund SIPs to be affected if PAN, Aadhaar card are not linked - All you need to know")
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