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The State Bank of India (SBI) said it provided information to customers and account holders until the final day of linking their PAN cards. SBI has announced that all account holders must complete the PAN-Aadhaar card link by September 30th. Banks also urged customers to do this to avoid inconvenience and enjoy seamless banking services. In a tweet issued by the official Twitter handle, the bank delivered a message and a post explaining how customers could handle it. The tweet says, “We encourage our customers to link PAN to Aadhaar to avoid inconvenience and continue to enjoy seamless banking services.”
SBI further stated that if the PAN is not linked by September 30, 2021, the ID card and its facility will be non-functional / inactive. This means that it is not possible to estimate a customer to make a particular transaction. In the attached post, the bank provided a link to the official income tax website and instructed the customer to link Aadhaar to the PAN.
According to Section 139AA of the Income Tax Act of 1961, anyone who is assigned a PAN card and also has an Aadhaar card is required by law to notify the Income Tax Authority of their Aadhaar number. The law states, “If a person does not keep his Aadhaar number intimate, the taxpayer number assigned to that person shall be invalidated after the date notified, in the manner prescribed by the rules.” Stated.
A PAN card is an integral part of opening a bank account at any bank. It also plays an important role in applying for and obtaining credit / debit cards. It can also be used to open a Demat account. A PAN is mandatory if a person deposits a total of 50,000 rupees or more per day. This is also true if the individual is buying an investment trust, corporate bond, bond, etc. When purchasing a bank check, bank check, bank check from a bank or credit cooperative, the customer must provide the PAN details. Please note that these are just a few of the services that may be affected if you fail to establish a PAN-Aadhaar card link by September 30th.
PAN is important for access to many banking facilities and services, and Aadhaar is just as important, but access is purely biometric based. Therefore, Aadhaar cannot be obtained based on any other ID. This makes the link between the two IDs important for tax administration. Otherwise, the Income Tax Office may impose a penalty on you. This penalty can take the form of a fine of up to Rs 1,000 and the PAN will be void.
This tweet was sent in early August. However, this is not the first time. SBI previously tweeted the same notification in May, with a deadline of June 30th. Since then, the deadline has been extended.
Steps to link PAN to Aadhaar card
1) Access the electronic filing portal of the Income Tax Bureau on the official website.
2) Next, you need to click on the Link Aadhaar section on the left.
3) When you are redirected, you need to enter your PAN number, Aadhaar number and name.
4) Finally, you need to enter the specified CAPTCHA code.
Five)[Link Aadhaar]Click the option to complete the PAN-Aadhaar linking process. The Income Tax Office will verify your name, date of birth, and gender against Aadhaar details. After that, the link completes successfully.
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