The income tax department has brought a new rule in this assessment year without which it will not be possible for you to get any tax refunds. Now, if you want to claim a refund of your tax then there is a requirement to link your PAN (Permanent Account Number) with Aadhaar card apart from filing income tax returns (ITR). Also, we can easily check Pan card status online.
But with the new rule, the IT department started a new refund policy by issuing income tax refunds only through e-mode. This is also beneficial for ITR filers as sometimes these cheques used to get delayed.
Although this practice has already been there in income tax departments, in the last few months, issuing cheques has stopped completely. But there is a condition while issuing the tax refunds. The taxman will issue your credits only when the bank account is linked with your PAN.
How to Link PAN with your Bank Account
There are three ways to link your PAN Card with bank accounts:
- Through Phone
Steps to link your PAN with bank account online
- Go to the internet banking website of your respective bank
- Login to your account by entering your user id and password
- You will see the range of options on the current page, click on “Service Requests” option to proceed.
- Choose the “PAN Card Updation” option
- Now enter the required details mentioned on your PAN card including your PAN card number, DOB mentioned on your PAN card along with your registered email ID.
- Recheck the entered details and click on submit button.
- Within a few days from the day of filing your application, your PAN will be linked with your bank account.
Steps to link your PAN with bank account offline
- Visit the bank branch where you have your account.
- Ask for the PAN form (KYC).
- Fill the form completely without overwriting or mistakes and re-check all the details.
- Submit the form with the following documents:
- PAN Card updation KYC Form
- Self –attested photocopy of your PAN card.
- A letter to the Branch Manager with a request to link your PAN with your bank accounts
- After submitting the form, your PAN will be linked to your bank account in the given timeline.
Steps to link your PAN with bank account through Phone
If there are no possibilities for you to link them online than you can call the customer care of the bank and link the PAN with bank account easily by following the IVR step by step.
- Call the toll-free number of your respective bank. You can find the number easily on passbook or chequebook.
- Connect to the customer care executive
- Inform the CC executive that you want to link your PAN with your Bank account.
- To verify the user, the executive will ask easy questions such as your debit card number, account number, address etc.
- Provide your correct PAN details to the executive and it will be linked to your respective bank account within two working days.