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SBI has intimated the last date for PAN card updation of Bank account holders.
The State Bank of India (SBI) has intimated its customers and account holders with the last date to link their PAN cards. SBI announced, "all account holders are required to complete their PAN-Aadhaar card linking by September 30." In a tweet posted from their official Twitter handle, the bank conveyed the message about it. The tweet states, "We advise our customers to link their PAN with Aadhaar to avoid any inconvenience and continue enjoying a seamless banking service."
SBI further says, "if the PAN is not linked by September 30, 2021, the identification card and its facilities will be rendered inoperative/inactive. This means that customers cannot be quoted for conducting specified transactions. In the attached post, the bank gave the link to the official income tax website and told customers to link the Aadhaar to the PAN."
According to Section 139AA of the Income Tax Act, 1961, every person who has been allotted a PAN card and also has an Aadhaar card is, by law, required to intimate their Aadhaar number to the Income Tax authorities. The Act says, "If a person fails to intimate the Aadhaar number, the permanent account number allotted to such person shall be made inoperative after the notified date in the manner as may be provided by rules."
If a person is depositing a sum of more than Rs 50,000 in a day, then the PAN card is mandatory. If the individual is buying mutual funds, debentures, bonds and while making a payment of over Rs 50,000 in cash during any one day for the purchase of bank drafts or pay orders or banker’s cheques from a banking company or a co-operative bank, customers need to provide the PAN details.
Follow these steps to link the PAN card to Aadhaar card
- Click to the income tax department’s e-filing portal on the official website.
- Click on the Link Aadhaar section on the left.
- Fill in your PAN number, Aadhaar number and name.
- Fill in the CAPTCHA code given.
- Click at the ‘Link Aadhaar’ option and PAN-Aadhaar linking process is done. The income Tax Department will validate name, date of birth, and gender against your Aadhaar details after which the linking will be complete successfully.
