How To Link PAN Card with Bank Account - Online & Offline Methods

Link PAN Card with Bank Account: If you're like most people, you probably don't know how to link your PAN card with your bank account. Thankfully, we've got a quick and easy guide to help you out! Stay tuned and follow the instructions carefully to link your Pan Card with your bank account.

Why you should link your PAN card with bank account?

It is now mandatory to link your PAN card with your bank account. This is being done to prevent money laundering and tax evasion. If you do not link your PAN card with your bank account, you will not be able to transact above a certain limit. There are many benefits of linking your PAN card with your bank account. It helps the government keep track of your transactions and prevent tax evasion. It also helps you keep track of your own finances and ensure that you are not overspending.

How to Link PAN Card with Bank Account

It is very easy to link your PAN card with your bank account. You can do it online or offline. Online, you will need to log in to your account and go to the ‘link PAN’ section. Offline, you will need to fill out a form and submit it to your bank branch. Once you have linked your PAN card with your bank account, you will be able to transact freely without any limit. This will help you save money and time in the long run.

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How To Link PAN Card With Bank Account?

Linking your Permanent Account Number (PAN) with your bank account is a simple process. By doing so, you can easily keep track of your financial transactions. You will also be able to e-file your income tax returns (ITR) without any hassle. Here are the 2 Methods to follow to link your PAN with your bank account,

Link PAN Card with Bank Account using Online Banking
Link PAN Card with Bank Account Offline

Link PAN Card with Bank Account using Online Banking:

Open the online banking site or app of your bank
Go to the login page or Click Login
Now, Enter your user ID and password to login to your banking account
Now, Go to Services option and Click on the ‘Service Requests’ option on the website or app.
Then, Select the ‘PAN Card Updation’ option

Link PAN Card with Bank Account using Online Banking

Now enter your PAN Card number, date of birth and your e-mail address which you used in this bank for registration.
Finally, Click on the ‘Submit’ button after rechecking the details that you have entered
Now, Your PAN will be linked with your bank account. You will receive the confirmation within 2 days.

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Link PAN Card with Bank Account Offline:

If you are not familiar with online banking, then you can do it with offline. Just follow the steps mentioned below,

Visit your bank branch where your account opened
Meet the staff in the branch and ask for the PAN updating form (KYC)
Now, read the form and fill it completely.
After that, the bank will ask you to provide the documentation like KYC form, Self Attested copy of your PAN card and a letter addressing the Branch Manager regarding linking PAN
A letter addressing the Branch Manager regarding linking PAN with your bank account
Once submitted, your PAN would be linked with your bank account

Benefits of Linking PAN Card with Bank Account:

Your PAN card is an important document that serves as proof of your identity. It also contains important information such as your date of birth, address and PAN number. Linking your PAN card with your bank account has several benefits.

It helps the government to track your financial transactions.
It makes it easier for you to file your taxes.
If you have multiple bank accounts, linking them to your PAN card helps the government keep track of your overall financial picture.
Linking your PAN card with your bank account also makes it easier for the government to detect and prevent tax fraud.

How To Use PAN card to File Taxes:

If you want to use your linked PAN card to file your taxes, you will need to use the Income Tax Department's e-filing portal. You will need to create an account on the portal and then login using your PAN card details. Once you are logged in, you will be able to access all the necessary forms and documents that you need to file your taxes.

What to do if you lose your linked PAN card?

If you have lost your linked PAN card, you should immediately contact your bank to cancel the card and arrange for a new one to be issued. You should also contact the Income Tax Department to report the loss of your PAN card.

Conclusion:

It is always beneficial to keep your PAN card linked with your bank account as it helps in keeping a track of all your financial transactions. Moreover, it also helps in income tax return filing and other financial processes. I hope the above information is really useful for you to know how to link PAN card with Bank Account.

FAQ's:

1. How Can I Know My PAN Card Linked to Bank Account?
Ans: You can log in to the official portal of income tax e-filing and enter your user ID and password and can find the option to verify your bank account details.

2. Can I link PAN card online?

Ans: Yes. You can link PAN Card through online using Internet Banking services