How to Link PAN Card with Bank Account Online/Offline?

In February 2019, the Income Tax Department of India issued a public advisory, mandating all taxpayers to link PAN cards with bank accounts.

This move allows you to use any kind of account for this purpose, be it current or savings, and avail e-refunds directly into your bank accounts.

However, given a surge in search of “how to link PAN cards with bank accounts”, we assume that the procedure of linking the two can be unclear for taxpayers.

So, allow us to delve into this subject and all its intricate details through this comprehensive guide.

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How to link a PAN Card with a bank account?

These days, most banks and financial institutions link the two when an individual opens a new bank account. So, if you are one of these individuals, you can sit back and enjoy the benefits of the same.

However, if you are yet to link your PAN card with your bank account, you can easily do so through any of these routes:

Link PAN with an account at bank branches

You can opt for an offline PAN account linking. Here is a rundown on this process:

Step 1: Visit the home branch of the bank you hold an account with.
Step 2: Ask for a KYC (Know Your Customer) application form.
Step 3: Then, duly fill out the required particulars in the form, such as your personal and PAN details.
Step 4: Submit this form along with a self-attested copy of your PAN card. Additionally, you might be asked to forward a letter addressing the branch manager requesting a linkage of your PAN with the bank account.

Link PAN with bank account online

If you do not have the time to visit your bank’s home branch, you can go for a PAN-Bank account linking via the online option.

Moreover, before we elaborate on how to link PAN to bank account online, we must tell you that the process slightly differs with each bank.

Nevertheless, highlighted below is the generic representation of the process:

Step 1: Visit the official net banking portal of your bank.
Step 2: Log in to your account by entering your credentials, such as username, customer ID and password.
Step 3: Navigate through your profile and find ‘PAN Registration’, ‘Service Requests’, or ‘Services’ and click on the relevant option.
Step 4: Now, submit your PAN details, such as the PAN number, your date of birth, and registered email ID, to proceed.

Once you input these details, the bank will verify their authenticity and link the PAN card with your bank account. Moreover, the time taken to complete this process varies between banks.

Alternatively, you can also opt for a PAN-Bank account linking via your bank’s official mobile application. For this, you should enter your PAN details in the application and raise a request for linking the same with your bank account.

Link PAN with the bank via phone call

To link a PAN card with a bank account through a phone call, find the toll-free contact number of your bank. This number is available on a bank’s official website, passbook or cheque book. After that, you should follow these steps:

Step 1: Place a call on the hotline number and proceed as indicated by the Interactive Voice Response (IVR).
Step 2: Once you get connected with a customer care executive, convey that you wish to link PAN to your account.
Step 3: The executive will ask you a few questions for customer verification purposes. So, make sure that you answer them correctly.
Step 4: After verifying your identity, you need to provide the executive with your PAN details and consent to access the PAN database.

You will then receive a service request number and confirmation at the end of this call. The PAN-account linking should be completed within 2-7 working days.

Why should you link a PAN Card with a bank account?

The Income Tax Department of India, through this mandate, began processing all IT refunds online with effect from March 1, 2019. Therefore, this effectively replaced the previous practice of sending refund cheques to a taxpayer’s postal address. This switch proffers the following advantages to financial institutions and government agencies:

The mandate facilitates banks to detect when an individual opens two accounts with the same bank. As a result, they can avoid duplication of accounts in different branches.
It allows the Income Tax Department to track one’s spending in contrast to income, which is resourceful to track malpractices, such as tax evasion and money laundering.

So, you should link your PAN card to your bank account to avail income tax e-refunds directly to your account. Without a valid Bank-PAN linking, you cannot deposit more than Rs.50,000 in fixed deposit. Moreover, you lose TDS at the rate of 20% if the deposit amount exceeds Rs.40,000 instead of the regular rate, which is 10%.

Lastly, as this linkage plays a critical role in taxation, you will also fulfil your duty as a responsible citizen of the country.

How to check if a PAN Card is linked with a bank account?

As a PAN card is a requisite for individuals to open a bank account, it is obvious that the two are already linked. However, PAN cards with bank account link status can be easily checked online by visiting the official website or mobile application of your bank. The details of the linkage are usually available in the “Profile” section. Moreover, you can also avail this information by visiting the nearest branch of your bank.

Points to remember when linking PAN card to a bank account

Like all official paperwork, this linkage also calls for you to furnish valid and error-free details. Any discrepancy, therefore, will lead to inaccuracies and cause a failure in the link-up.

If there exists any incorrect information in your PAN card, it will create issues during this linkage. So, double-check the validity of all PAN details before linking them with your bank account.

Moreover, in case of deviations, make sure you rectify them at the earliest by following these steps:

Step 1: Visit the official website of NSDL E-Governance.
Step 2: You will spot a section named “Services”. Under it, click on “PAN”.
Step 3: Now, select the “Apply” option under the section of “Change/Correction in PAN Data”.
Step 4: At this point, an “Application Type” dropdown menu appears. Here, select the option “Changes or Correction in existing PAN data/Reprint of PAN Card”.
Step 5: Select the category of the assessee from the “Category” dropdown menu. For instance, choose the “individual” option from the list if the PAN is registered in your name.
Step 6: You are now required to enter your personal details, like name, date of birth, contact number and email address.
Step 7: Now, submit the application after filling the captcha.
Upon completing this process, your request is registered. You will then receive a Token Number to your email ID. Click on the button present below it to proceed.
Step 8: You will now be redirected to a form. Here, you are required to provide your details, like your father’s name, mother’s name, AADHAR number, etc. Additionally, make it a point to furnish all details with the utmost accuracy. After filling in all the necessary information, select “Next”.
Step 9: Then, upload all the necessary documents like proof of identity, age proof, residential proof, etc. Lastly, the website calls for you to sign and submit a declaration.
Step 10: The site will now redirect you to a payment page. You can complete this transaction through net banking, demand draft or debit card/credit card. On successful payment, you will receive an acknowledgement slip. You must take a printout of this slip and post a copy of it to the NSDL e-gov office alongside the physical proof of documents.

Here is a list of documents that act as identity, age and address proof at such times:

Proof of identity

Aadhaar Card
Elector’s photo ID card
Passport
Driving License
Ration card with an affixed photograph of the applicant
Pensioner card with an affixed photograph of the applicant
Photo identity card issued by the State Government or Central Government or Public Sector Undertaking

Proof of address

Aadhaar Card
Elector’s photo ID card
Passport
Driving License
Post office passbook with the applicant’s address
Domicile certificate issued by the Government
Property Registration Document
Latest property tax assessment order

Age proof

Aadhaar card
Elector’s photo ID card
Passport
Driving license
Mark sheet or matriculation certificate from a recognised board
Birth certificate issued by the municipal authority or any authorised issuing office
Domicile certificate issued by the Government
Domicile certificate issued by the Government
Photo identity card issued by the State Government or Central Government or State Public Sector Undertaking or Central Public Sector Undertaking
Applicant’s marriage certificate issued by the Registrar of Marriages
Affidavit sworn before a magistrate that states the date of birth
Central Government Health Service Scheme photo card or Pension payment order or Ex-servicemen Contributory Health Scheme photo card

And, that was our comprehensive guide on how to link a pan card with a bank account. We hope that this guide answered all your questions so you can stop scouring the internet for more information.

FAQs about Linking PAN Card with Bank Account

All

What happens if a PAN card is not linked with a bank account?

You cannot avail income tax e-refunds without a PAN card-bank account linkage. Additionally, it also obstructs you from depositing over Rs.50,000 in your bank account as fixed deposit. Furthermore, if the interest exceeds Rs. 40,000, you might have to face a TDS deduction of 20% which is currently charged at 10%.

Is it compulsory to link a PAN card with a bank account?

Yes, the Income Tax Department of India mandates you to link your PAN card with your bank account. This is necessary for a host of financial transactions, such as availing income tax refunds, depositing cash into your bank account, and dealing in securities, etc.

What is the benefit of linking a PAN card with a bank account?

By linking your PAN card with your bank account, you can avail income tax refunds directly to your bank account. However, if these two are not linked, then you will not receive any refunds.