How to Link PAN Card with Bank Account Number?

The Income Tax Department made it mandatory for all taxpayers to link their PAN with their bank accounts. Knowing how to link PAN card with bank account is essential for receiving income tax refunds and conducting high-value transactions securely. 

Key Highlights

• PAN Card Bank Account Linking Ways: Online or offline modes.
• Pan Card Link With Bank Account Check: Through e-filing portal.
• Documents Required: PAN card, ID proof, bank account details.
• Purpose of Linking PAN With Bank Account: Mandatory to avail certain banking services and for large financial transactions.

Why Link PAN Card With Bank Account?

• PAN linking allows the Income Tax Department to track reportable financial transactions, ensuring compliance with tax laws and transparency.
• PAN linking helps monitor and prevent potential tax evasion and other financial irregularities.
• Linking PAN with a bank account helps verify your identity and process banking services more efficiently. If PAN is not updated, banks may ask for Form 60 or restrict certain transactions until the compliance requirements are met.
• Banks often require a PAN and bank account linking when applying for a credit card to verify and assess financial records. This helps in assessing creditworthiness and promotes responsible lending practices.
• PAN linking is commonly required while opening a Demat account, trading account, or applying for certain banking and investment products.
• Linking PAN to a bank account ensures you receive eligible government benefits and subsidies directly to your account, reducing the risk of misuse.
• PAN may be required for certain foreign remittances or forex transactions under applicable RBI regulations.

How to Link PAN Card With Bank Account Online?

There are various ways to link your bank account with PAN card online.

Net Banking

Step 1: Navigate to your bank's official website.

Step 2: Log in to your Net banking account using your credentials.

Step 3: Go to your profile. Locate the Service Requests, Services, or PAN Registration option in the menu.

Step 4: Select the PAN linking/seeding, PAN updation, or KYC option.

Step 5: Fill in the required details from your PAN card.

Step 6: Submit your information to complete and confirm the linking process. 

Your PAN card will be linked instantly or within 7 working days.

Bank Application

Step 1: Download your bank’s mobile banking app from the appropriate app store.

Step 2: Log in with your mobile banking credentials.

Step 3: Navigate to your profile or e-services section.

Step 4: Search for the PAN linking/ PAN updation or KYC option within the app.

Step 5: Enter your PAN card details and click submit.

Step 6: Enter the OTP received on your mobile number for verification. You will receive a confirmation message.

Linking PAN with bank account through Net banking or the mobile app may be processed instantly or within 7 working days.

Note: Each bank’s online portal or app has a different interface or sections. Thus, the steps given above are generic and not specific to any bank.

How to Link PAN Card With Bank Account Offline?

Here are the ways to link your bank account with PAN card offline:

Phone Banking

Step 1: Call the toll-free customer care number of your bank, which can be found on your bank's passbook, chequebook, pamphlets, or other documents.

Step 2: Navigate through the IVR options and connect with the PAN card customer care executive.

Step 3: Inform the executive about your intention to link your PAN with your account.

Step 4: Provide the necessary information, such as your account number, address, and debit card number, to verify your credentials.

Step 5: Communicate your PAN to the executive and verify that the correct PAN has been recorded.

After registration, allow for up to 2 working days for your request to be processed, after which the bank will link your PAN with your bank account.

ATM

Step 1: Visit your nearest bank ATM.

Step 2: Insert your ATM/Debit card into the machine and enter your PIN.

Step 3: Go to the ‘Service Request’ or ‘Account Service’ section.

Step 4: Select the option ‘Update/ Link your PAN Card’.

Step 5: Enter your PAN details and submit.

Linking PAN with bank account via ATM usually takes 1-7 working days.

Through Branch Visit

Step 1: Visit your home branch where you maintain your account.

Step 2: Request a ‘PAN Card Update Form’, also known as the ‘KYC Form’.

Step 3: Accurately fill out all the required fields on the form.

Step 4: Submit the completed form along with a self-attested photocopy of your PAN Card. You may also need to provide a written request to the Branch Manager for updating your PAN details in your account.

Linking PAN with bank account at the branch using a KYC form takes 1-3 working days.

Note: Each bank's PAN update process offline might be different. The steps given above are generic and not specific to any bank.

Documents Required for PAN Card Link With Bank Account

Ensure to have these documents with you before proceeding to link your PAN card with your bank account:

• Valid PAN card: A self-attested copy of your PAN card.
• ID proof: A valid ID proof, such as an Aadhaar card, passport or driving license, may be required in some cases.
• Bank account details: Active bank account details, such as account number and IFSC code.
• Contact information: Registered mobile number and email ID updated with the bank.
• Internet/ Mobile Banking credentials: To log into the bank’s net banking portal or mobile app if linking is done online.
• PAN linking form: To be filled and submitted if the linking is done offline at the bank branch.

How to Check PAN Card Link With Bank Account?

You can check the bank account linked to your PAN card by logging into the Income Tax e-filing portal. Here is the process of PAN card link with bank account check:

Step 1: Log in to the Income Tax e-Filing portal using your PAN/ Aadhaar and password.

Step 2: On the dashboard, navigate to the ‘My Profile’ or ‘My Bank Account’ section.

Step 3: You can view the bank accounts added to your profile (linked to PAN) and their validation status.

You can also check the PAN card link status through your bank’s net banking portal or by contacting your bank branch.

Is it Mandatory to Link PAN Card with Bank Account?

• The Central Board of Direct Taxes (CBDT) has made it mandatory for all banks in India to link PAN numbers or Form 60 (when PAN is not available) to all existing bank accounts by 28 February 2017.
• Basic Savings Bank Deposit Accounts (BSBDAs) are exempt from PAN linking. Thus, a BSBDA can be opened without a PAN card and need not be linked to a PAN number.
• As per an RBI circular issued on 15 December 2016, no debit transactions, transfers, or other banking services will be allowed for accounts where PAN is not linked.
• A PAN card is a compulsory document required for certain banking transactions and high-value financial transactions.

Benefits of Linking PAN Card With Bank Account

• Preventing Duplicate Accounts: Linking your PAN to your bank account helps prevent duplicate accounts, ensures a consistent financial identity, and guarantees KYC compliance across all branches.
• Ease of Tax Filing: Linking your PAN with your bank simplifies tax filing and ensures you don’t miss out on eligible tax benefits or deductions.
• Streamlined Tax Refunds and Deductions: Linking your PAN enables faster tax refunds to be credited directly to your bank account, ensures accurate TDS deductions and prevents higher TDS deductions on certain incomes. 
• Income Tax Monitoring: The Income Tax Department uses your linked PAN to track your spending against reported income, aiding audits and tax assessments.
• Mandatory for Certain Banking Transactions: The IT Department has made it mandatory to link a PAN card or Form 60 to all bank accounts for carrying out transactions such as large cash deposits, fixed deposits, investments, debit transactions, money transfers, financial transactions above ₹50,000, and other banking services. 
• Enhanced Security for Large Transactions: Linking your PAN with your bank enhances the security of high-value transactions and investments by adding an extra layer of protection to your financial transfers and ensuring smooth transactions
• Quick Approvals: Banks can verify your details quickly to process loans, speeding up the verification and approval process with minimal paperwork.
• Prevents Fraud: It helps minimise the risk of identity theft and money laundering.
• Combating Black Money: In financial dealings, PAN cards are required to help curb the flow of unaccounted or illegal funds, commonly known as black money.

Common Issues Faced When Linking PAN with Bank Account

Here are the issues faced while linking a PAN with a bank account:

Understanding how to link PAN card with bank account is important for anyone filing taxes, receiving subsidies or carrying out various financial transactions. Whether done via online banking, mobile apps, or offline at the branch, the process is simple and helps prevent delays and fraud. Linking your PAN with your bank account ensures financial compliance and seamless access to banking services.

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