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The country’s largest lender, the State Bank of India (SBI), has sent a notice to its account holders. The bank has informed customers that they must link their PAN to their Aadhaar card before the end of the month. The Bank has further said that if they fail to do so, they will face difficulties in enjoying a seamless banking service.
“We advise our customers to link their PAN to Aadhaar to avoid inconvenience and continue to enjoy seamless banking service,” SBI tweeted.
The lender said PANs not seeded with Aadhaar before the deadline will be considered invalid.
The tweet further stated that linking PAN to the Aadhaar is mandatory. If PAN and Aadhaar are not linked, PAN is made inactive and cannot be listed for performing specified transactions.
The National Stock Exchange (NSE) has also asked its trading members to complete the Aadhar-PAN link task before the end of the month. The exchange said PANs not seeded with Aadhaar before the deadline will be considered invalid for trading in the stock market.
The government has extended the deadline several times to facilitate the linking of the two identity numbers. And now the last date to link these documents is September 30th. After the deadline has passed, all PAN cards not linked to Aadhaar would stop working.
PAN is required for many financial transactions, including bank account opening, cash deposits in bank accounts, Demat account opening, real estate transactions and securities trading. Aadhaar is biometric based and cannot be obtained from any other identification document, linking the two is considered crucial for the tax administration.
How to link PAN to Aadhaar card:
Go to the e-filing website of the Tax Authorities.
Click on the Link Aadhaar section.
Now enter your PAN number, Aadhaar number and name.
Click on ‘Link Aadhaar’ option and your PAN Aadhaar link will be completed.
The income tax department will validate your name, date of birth and gender against Aadhaar data and then the match will be performed.
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