Home Articles SBI customers need to do this by June-end to avail seamless banking...
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The State Bank of India (SBI) has issued a notice to its customers. The bank has intimated the account holders to link their PAN-Aadhaar card by June 30. The Bank has further said that if they fail to do so, they will face difficulty enjoying a seamless banking service.
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“We advise our customers to link their PAN with Aadhaar to avoid any inconvenience and continue enjoying a seamless banking service,” SBI said in a tweet.
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The tweet has further stated that the linking of PAN with the Aadhaar is mandatory. If PAN and Aadhaar are not linked, then PAN will be rendered inactive and cannot be quoted for conducting specified transactions. The last date for linking PAN with Aadhaar is June 30, 2021.
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PAN is mandatory for a host of financial transactions including the opening of bank accounts, cash deposits in bank accounts, the opening of Demat accounts, transaction of immovable properties and dealing in securities. Aadhaar is biometric-based and cannot be obtained based on any other identification document, linking the two is considered crucial for tax administration.
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The government has made several extensions to the deadline since July 2017 to facilitate the linking of the two identity numbers. And, now the last date to link these documents is June 30,
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If you fail to link your PAN card with your Aadhaar card within the deadline, then the income tax department might impose a penalty on you. You will not only be liable to pay a fine of up to ₹1,000 but your PAN will also become invalid.
How to link PAN with Aadhaar card
1) Go to the income tax department’s e-filing portal.
2) Click on the Link Aadhaar section on the left.
3) You need to fill in PAN number, Aadhaar number and name.
4) Fill in the CAPTCHA.
5) Click at the ‘Link Aadhaar’ option and your PAN Aadhaar Linking will get complete.
6) The income tax department will validate your name, date of birth and gender against Aadhaar details after which the linking will be done.
