Link a PAN Card with a bank account; a PAN card, i.e., a permanent account number, is issued to each Income Taxpayer by the Income Tax (IT) Department. A PAN card is mandatory and required to make most financial transactions.
Link PAN card with a bank account:
The IT section has made it mandatory to link your bank account with your PAN. The main reason is that your income tax refunds will be credited directly to your bank account.
You will not receive any refunds if your primary bank account is not linked to your PAN account. You can add any statement to the PAN – Savings, Current, Checking, Cash, or Overdraft.
Previously, you could get refund checks sent to your registered residential address, but now that option has been removed.
How to link a PAN card with a bank account online (via Internet banking)?
- Log in to your bank internet banking account.
- Enter your User ID and Password.
- Go to your profile.
- Look for menu choices such as service demands, services, or PAN registration.
- Click on the corresponding option.
- Select PAN card update, link your PAN, PAN update, or select other options.
- Enter your PAN card number.
- You must also enter your date of birth on your PAN card and registered e-mail ID.
- Once you have entered the correct details, they will link your PAN and bank account in 2 to 7 working days.
Note: Every online bank portal has different ways to access the PAN account linking page. The steps given above are general and do not apply to any bank.
Linking a PAN Card with a Bank Account via Phone Hotline:
Call the Bank Customer Care Hotline to connect your PAN card with any bank account by phone. Follow the instructions below to complete the linking process:
- Call your Bank Customer Care Centre.
- Go via the IVR menu during the call.
- Choose the suitable menu options.
- Connect with the customer care executive.
- Tell the manager that you want to link your PAN to the account.
- Answer their customer verification questions.
- Tell them your PAN card number.
- You will receive a service request number and validation at the end of the call.
- Check with the bank if the numbers are not seeded within seven working days.
Note: Each bank phone banking/hotline has different IVR options. The steps given above are general and do not apply to any bank.
Ways to link a PAN card with a bank account offline:
To connect your PAN with a performance at the branch, follow these steps:
- Visit the department where you have your account (Home Branch).
- Ask for the PAN Card Update Form (KYC Form).
- Fill in all the relevant points in the form correctly.
- Submit the form and a self-certified photocopy of your PAN card.
- You may also ask to write a letter to the Branch Manager requesting a PAN update on your account.
Note: The PAN update process for each bank branch may be different. The steps given above are general and do not apply to any bank.
Before you go to connect your PAN and bank account, check if both of these are already linked. For all you know, you may have already submitted your PAN to the bank.
To check it, log in to the Income Tax e-filing portal and go to your profile. Check if it shows the account number and which one you use regularly.
Ways to link PAN with Aadhaar:
There are two methods you can link PAN and Aadhaar. These are:
- Through the Income Tax e-filing website.
- Sending SMS to 567678 or 56161.
1. Linking PAN based on online:
- Visit the Income Tax site by clicking on the link.
- Under ‘Quick Links’, click on ‘Link Aadhaar’.
- Provide PAN, Aadhaar number name on Aadhaar card, and so on.
- Enter details like PAN number, Aadhaar number, your name on Aadhaar, and your mobile number; tick the square if it had only the year of birth mentioned in the Aadhaar card, and also tick the box where you agree to get your Aadhaar Details verified.
- Click on ‘Link Aadhaar.’
- Enter the Captcha Code. (Visible users can request OTP instead of a captcha code. OTP will send to the recorded mobile number)
- Click on the ‘Link Aadhaar’ button.
2. Linking PAN with Aadhaar by sending SMS:
To link your PAN with your Aadhaar by sending an SMS, You need to follow the below-mentioned steps:
- Type UIDPAN 12-digit Aadhaar 10-digit PAN on your mobile
- Please send it to 567678 or 56161
- SMS’ UIDPAN Aadhaar Number PAN Number to 567678
RBI says PAN and Aadhaar mandatory for opening bank accounts:
The country’s central bank, the RBI (Reserve Bank of India), has made Aadhaar and PAN mandatory for starting bank accounts.
The Central Bank, which newly updated its Master Circular regarding KYC norms, has also left out various documents that can use for due diligence. Per the revised circular, you must quote PAN and Aadhaar numbers for new bank accounts.
Customers should prove they have applied for these documents within the last six months if the following details are unavailable.
The circular said that customers without Aadhaar and PAN numbers would allow ‘small accounts’ and be closely monitored to ensure that foreign transactions do not occur.
It is necessary to mention an updated circular in line with the changes made in Anti-Money Laundering Regulations vide Gazette Notification GSR 538(E) dated June 1, 2017.
Linking a PAN to a Bank Account does not apply to NRIs and PIOs:
Unique Identification Authority of India (UIDAI) states that persons of Indian Origin (PIOs), NRIs (NRIs), and Indian Overseas Citizens (OCIs) had not been required to link their PAN numbers with bank accounts and other services.
According to the Anti-Money Laundering Rules 2017 and the Income Tax Act, registering a permanent account number (PAN) with bank accounts applies only to those eligible for Aadhaar.
As many NRIs/PIOs/OCIs are not eligible for Aadhaar enrollment, UIDAI has directed all Central and State Branches and other implementing agencies not to seek Aadhaar as proof of identity from such persons.
The authority said they should collect it only from eligible people under the Aadhaar Act. It also asked the agencies to determine a mechanism to verify the status of NRIs and PIOs.
FAQs:
First, type a message in UIDPAN format, i.e., UIDPAN (space) 12-digit Aadhaar number (length) 10-digit PAN number. The SMS must only send from your registered number to 567678 or 56161. You will get a confirmation message from the Aadhaar and PAN card linking.
As per the regulations, the account holder’s name on PAN should match the bank account or the address proof they have submitted. If not, he needs to provide a declaration from the bank stating that the PAN cardholder and bank account holders are the same individuals.
When the PAN had not linked with the Aadhaar card, the PAN card became inoperative from July 1, 2023. The taxpayers need help filing their IT Returns.
Don’t worry, that’s only possible if you do it yourself. For the misuse of the pan, you may need to visit the income tax office even if you have no hand in it. The officials ask the victim to provide the original documents to verify the ownership.
Your PAN card will link to your bank account within two days of filing your application.