PAN Cards will be deactivated on January 1st, 2026 for those who haven't linked their PAN with their Aadhaar numbers by December 31st, 2025. CBDT has mandated the linking, which can be done by visiting Income Tax e-filing portal. If PAN is deactivated, one cannot open a bank account or demat account or make cash deposits or FDs above ₹50,000.