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Link PAN Card with Punjab & Sind Bank Account : PAN Card is the most important document issued by Issued by Income Tax Department of India. For almost all financial transactions, one needs to possess a PAN Card. When a person opens a new bank account in Punjab & Sind Bank, he needs to mention the PAN Card number in the Punjab & Sind Bank Account Opening Form. In case the applicant does not have a PAN Card, he needs to fill up Form 60/61. The applicant also needs to mention the reason why he doesn’t own a PAN Card. At any point of time, if an Account Holder wants to link his PAN Card to Punjab & Sind Bank Account, he can do the same by visiting his Bank Branch and submitting the necessary documents. Earlier we have talked about the procedure to link Aadhaar with Punjab & Sind Bank Account. In this Article, we will tell you about the step by step procedure to link PAN Card with Punjab & Sind Bank Account.
Important Uses of PAN Card are :
- Buying or Selling immovable properties, Automobiles, Shares of value more than Rs. 1 lakh
- Making a Bank draft, pay order or a cheque
- Depositing Amounts in Bank Accounts which are more than Rs. 50,000 at once
- Opening a new bank account(Savings or a Current Account)
- Opening a DMAT Account
- Applying for a Credit Card
- Proof of Identity
Contents
How to link PAN Card to Punjab & Sind Bank Account ?
Before we tell you about the procedure to link or update PAN Card in Punjab & Sind Bank Account, let us tell you about the consequences of not linking PAN Card with Punjab & Sind Bank Account.
What if you do not link PAN Card with Punjab & Sind Bank Account ?
There are 2 important cases which you must keep in mind.
- In case you do not update valid PAN details in your Punjab & Sind Bank Account, tax is bound to be deducted from the interest earned on all your deposits.
- If you already have a PAN and you do not update its details with Punjab & Sind Bank, you will not be able to get your Tax Deduction at Source Certificate (Form 16) from Punjab & Sind Bank.
Related Articles : Don’t forget to read our other Articles on the procedure to Change Punjab & Sind Bank Account Address , Change Name in Punjab & Sind Bank Account & to Transfer Punjab & Sind Bank Account to Another Branch.
Steps to Link PAN Card with Punjab & Sind Bank Account
In order to Link PAN Card with Punjab & Sind Bank Account, you need to follow the step by step procedure given below.
1) Visit your Punjab & Sind Bank Home Branch where you are already maintaining your Account.
2) Collect the KYC Form from the Bank Branch in order to Update your PAN details in Punjab & Sind Bank Account.
3) Fill up the KYC Form completely and put your Signature wherever required.
4) Submit the following Documents at your Punjab & Sind Bank Branch :
- KYC Details Change Form
- Self Attested Photocopy of PAN Card
- A Letter addressing the Branch Manager about the Updation of PAN Card in your Punjab & Sind Bank Account
Note : Don’t forget to carry original PAN Card while you make a visit to Punjab & Sind Bank Branch.
Did you know ? If you have not been using your Punjab & Sind Bank Account from long time, it may become dormant. Check out or Article on the procedure to reactivate dormant Punjab & Sind Bank Account. And if you are looking to update mobile number in Punjab & Sind Bank, you can do that easily.
Final Words :
It is important for every Account Holder in Punjab & Sind Bank to link their PAN Cards with Punjab & Sind Bank Account. The complete procedure does not over 10-15 minutes after you visit Punjab & Sind Bank Branch. It is really necessary to link PAN Card with Punjab & Sind Bank Account for obtaining your TDS from the Bank. Also, do update the correct PAN details in your Punjab & Sind Bank Account so that the tax doesn’t get deducted from the interest earned on the deposits in your Punjab & Sind Bank Account.
