PAN Card is a Permanent Account Number which is being provided by the Income Tax Department to every entity whose income is a taxable income. PAN card is a compulsory Government document which is needed in most of the financial transactions. The Income Tax Department made it mandatory to link bank account with PAN. The main reason for linking PAN card with a bank account is that in case of income tax refunds, it will be credited easily to the bank account.
Linking of PAN Card with bank account through Internet banking
Log into your bank’s internet banking account.
Enter your user ID and Password.
Go to your profile. Look for the menu option such as Service Requests, Services, PAN registration. Click on the relevant option.
Select an option of ‘PAN Card updating’, link your PAN, update PAN or similar relevant option.
Enter your PAN Card number. You might also have to enter your date of birth as on the PAN Card and your registered e-mail ID.
Once you put all the correct details, your PAN and Bank Account will get linked in 2 to 7 working days. Each of the bank’s online portal will have different ways to reach to PAN account linking page.
Process of linking PAN card with bank account through phone hotline
To link PAN Card with bank account by phone, there is a process to call the customer care hotline of the bank. Steps are mentioned below:
Please note that bank’s hotline and phone banking IVR options are different for each bank.
Process to link PAN Card with bank account via offline (branch)
Step 1: Visit the branch in which you have an account.
Step 2: Ask for a PAN Card update form that is known as KYC form.
Step 3: Fill all the relevant details in the form correctly.
Step 4: Submit the form along with the self- attested copy of your PAN Card.
Step 5: While submitting form and PAN Card copy, might also be asked to write a letter which addresses Branch Manager, requesting for update of PAN in your account.
Step 6: Before you go for linking of PAN and bank account, make sure you check that PAN and Bank account that it is not being linked earlier. As in many cases, PAN information, bank usually have so it might be possible linking already done at the time of opening bank account. Check if it already shows an account number, and whether it is the one that you regularly use.