Cody Casey
Linking your Aadhaar and PAN to your bank account is a crucial process that ensures smooth financial transactions and tax compliance. In India, the Income Tax Department issues a unique alphanumeric code known as PAN, which is used to track financial transactions, tax filings, and compliance. It is mandatory under India's Income Tax laws to link your PAN number to your bank account. By linking your PAN with your bank account, you can facilitate cashless transactions, such as online banking, credit card payments, and electronic fund transfers. Additionally, linking your Aadhaar with your PAN is also mandatory and is required for processing income tax returns. This can be done through various offline and online methods, including visiting the website of the Income Tax Department or using online Aadhaar authentication provided by your bank.
| Characteristics | Values |
|---|---|
| Deadline | 30/06/2023 |
| Who must link PAN with Aadhaar | Every individual including Non-Resident Indians (NRIs) who hold both PAN and Aadhaar |
| Who is exempt | Individuals residing in the States of Assam, Jammu and Kashmir, and Meghalaya, who do not possess an Aadhaar number/enrolment ID |
| What happens if PAN is not linked to Aadhaar by the deadline | PAN will be mapped as "Inoperative PAN" at NSDL |
| What happens if PAN is inoperative | Customers with inoperative PANs will be liable for a higher TDS rate on cash withdrawal transactions |
| How to link PAN with Aadhaar | Visit the website of the Income Tax Department and follow the instructions |
| How to link PAN with a bank account | Log in to your bank's internet banking portal or mobile banking application, navigate to the relevant section, select the option to link PAN card with Aadhaar, enter your Aadhaar number and PAN details, and authenticate the linking process using the OTP sent to your registered mobile number |
| Alternative way to link PAN with a bank account | Visit the nearest ATM of your bank, insert your ATM card and enter the PIN, select the relevant option, and enter your PAN details as prompted |
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What You'll Learn
Linking PAN with Aadhaar via the Income Tax Department website
It is mandatory to link your PAN with Aadhaar to allow your income tax returns to be processed. Here is a step-by-step guide to linking your PAN with Aadhaar via the Income Tax Department website:
Step 1
Visit the e-Filing Portal homepage and click on 'Link Aadhaar' under 'Quick Links'. Alternatively, log in to the e-filing portal and click on 'Link Aadhaar' in the 'Profile' section.
Step 2
Enter your PAN and Aadhaar Number and click 'Continue to Pay Through e-Pay Tax'.
Step 3
Enter your PAN, confirm PAN, and any mobile number to receive the OTP.
Step 4
After receiving the OTP, enter the 6-digit OTP and click on 'Validate'.
Step 5
Your request for the Aadhaar-PAN link has now been submitted successfully. You can now check the Aadhaar-PAN link status.
Important notes
- If you are a new applicant for a PAN card, the Aadhaar-PAN linking is done automatically during the application stage.
- If your PAN is not linked with Aadhaar by 30 June 2023, your PAN will become inoperative.
- Ensure that your Aadhaar and PAN details are matching and up to date.
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Linking PAN with Aadhaar via an offline paperless eKYC document
To obtain the document, the Aadhaar number holder must generate their digitally signed Offline XML by accessing the UIDAI website. The Offline XML will contain the holder's name, address, photo, gender, date of birth, hash of registered mobile number, hash of registered email address, and a reference ID which contains the last four digits of the Aadhaar number followed by a timestamp.
Once the XML file is obtained, the service provider will extract the file using the password (share code) provided by the Aadhaar number holder. The XML file will contain demographic details such as name, date of birth, gender, and address.
The XML file generated by the Aadhaar number holder using Aadhaar Paperless Offline eKYC is a digitally signed document using the UIDAI digital signature. This allows the service provider to verify the demographic contents of the file and certify it to be authentic when doing the offline verification.
The mAadhaar app can also be used anywhere, anytime within India. The mAadhaar profile is accepted as valid ID proof, and the Aadhaar number holder can use the app to share their eKYC or QR code with service providers who require Aadhaar verification before providing services.
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Linking PAN with Aadhaar via a bank's internet banking portal
To link your PAN with your Aadhaar card via your bank's internet banking portal, you will need to follow a few steps.
Firstly, visit the e-Filing Portal homepage and click on the 'Link Aadhaar' option under the 'Quick Links' section. Alternatively, you can log in to the e-filing portal and click on 'Link Aadhaar' in the 'Profile' section.
Once you have done this, you will need to enter your PAN and Aadhaar numbers. You may also need to enter the name as mentioned on your Aadhaar card, and tick a box if your date of birth is listed on your Aadhaar card.
After this, you will need to click 'Continue to Pay Through e-Pay Tax'. On the next page, you will need to enter your PAN again, confirm it, and enter a mobile number to receive an OTP.
Once you have received the OTP, enter it and click 'Validate'. After this, you will be able to submit your request to link your PAN and Aadhaar.
It is important to note that this process may vary slightly depending on the specific bank you are using. Additionally, some banks may not offer the option to link your PAN and Aadhaar through their internet banking portal, in which case you would need to use the Income Tax Department's website.
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Linking PAN with Aadhaar at a bank branch
As per Section 139 AA of the Income Tax Act 1961, every individual, including Non-Resident Indians (NRIs) holding a PAN (Permanent Account Number) and Aadhaar number, must link their PAN with Aadhaar. This is a mandatory process and will allow your income tax returns to be processed.
If you do not link your PAN with Aadhaar by 30 June 2023, your PAN will be mapped as "Inoperative PAN" at NSDL, and you will be liable for a higher TDS rate on cash withdrawal transactions.
To link your PAN with Aadhaar at a bank branch, you can follow these steps:
- Visit your nearest bank branch and speak to a representative.
- Provide them with your PAN and Aadhaar card details.
- They may ask for additional information, such as your mobile number, to verify your identity.
- Follow the bank's specific procedures for linking PAN with Aadhaar. This may involve filling out a form or providing additional documentation.
- Once the bank has processed your request, they will update your account information.
It is recommended to contact your bank directly to understand their specific requirements and procedures for linking PAN with Aadhaar at their branch.
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Linking PAN with Aadhaar at a bank ATM
Linking your PAN with your Aadhaar is a mandatory process as per Section 139 AA of the Income Tax Act 1961. It is important to link the two as it allows your income tax returns to be processed. If you do not link your PAN with your Aadhaar, it will be deemed "inoperative", and you will be charged a higher TDS rate on cash withdrawals.
To link your PAN with your Aadhaar at a bank ATM, follow these steps:
- Visit the Income Tax e-Filing website.
- Click on the 'Link Aadhaar' option under the quick links.
- Enter your PAN and Aadhaar number.
- Enter your name as mentioned on your Aadhaar card.
- If your date of birth is mentioned on your Aadhaar card, tick the box.
- Follow any further instructions on the screen to complete the linking process.
After completing these steps, a pop-up message will appear showing that your Aadhaar has been successfully linked to your PAN card. You can then check the PAN-Aadhaar linkage status on the NSDL site after 24 hours.
Please note that these steps may vary slightly depending on your bank and ATM interface. If you have any issues, you can contact your bank's customer support or visit their nearest branch for assistance.
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Frequently asked questions
It is mandatory under India’s Income Tax laws to link your PAN number to your bank account. Linking your PAN with your bank account ensures seamless financial transactions and tax compliance.
Many banks provide the option to link PAN with a bank account through online Aadhaar authentication. Here are the steps: Log in to your bank’s internet banking portal or mobile banking application. Navigate to the ‘Service Requests’ or ‘Account Services’ section. Select the option to link PAN with Aadhaar. Enter your Aadhaar number and PAN details. Authenticate the linking process using the OTP sent to your Registered Mobile Number (RMN). Once authenticated, your PAN card will be linked with your bank account.
PAN stands for Permanent Account Number. The Income Tax Department in India issues a unique alphanumeric code that is known as PAN, which serves as a tool for tracking financial transactions, tax filings, and compliance.
As per Section 139 AA of the Income Tax Act 1961, every individual including Non-Resident Indians (holding PAN & Aadhaar number) is required to link their PAN with Aadhaar by 30/06/2023.
