The Government of India has mandated taxpayers to link PAN with operational Axis Bank accounts. For this, Axis Bank account holders, who are looking for updating their PAN, can follow the online as well as offline mode. As PAN card is issued by the Income Tax Department of India under the supervision of Central Board of Direct Taxes, individuals or non-individual entities should get their PAN issued as early as possible.
Any new or existing Axis bank account holder needs to get PAN updated with the bank in order to avail the facilities of financial transactions as well as enjoy the government subsidies. Axis Bank is the third largest private sector bank in India which has almost 3304 branches and 9 international offices. Its major products include- Credit Cards, Consumer Banking, Mortgage Loans, Private Equity and many others for their customers. Axis Bank account holders should link their PAN as early as possible with the bank accounts. If they fail to do so, customers will not be entitled to gain TDS certificate from the bank.
There are different ways through which existing or new users can link their PAN with the Axis Bank account.
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Linking PAN with the Axis Bank Account Online
Step 1: Visit Axis bank internet banking website- Click Here
Step 2: Enter the Customer ID and Password and login
Step 3: After logging in, click on the “Request” option available on the left side of the window
Step 4: Select PAN/Update PAN details from the drop-down menu list under the “Request” option
Step 5: Enter you PAN number carefully and then click on the submit option
Step 6: You will receive an update after successful linking of the PAN with your Axis Bank account
PAN updation from Axis Bank usually takes a week from the date you have applied for the updation. Failing to do so will result in many consequences such as-
- Failure of receiving TDS certificate from the bank,
- Payment of tax on the interest earned on deposits.
Linking PAN with the Axis Bank Account Offline
New or existing account holders now can get their PAN updated even if they are not acquainted with the online mode. For this, you need to follow the below-mentioned steps:
Step 1: Visit the branch of Axis Bank where you have opened your account
Step 2: Ask for the PAN updation detail form from the bank officials
Step 3: Fill up all the required details carefully without making any mistake or overwriting
Step 4: Bank officials may ask for the original PAN card if needed.
Step 5: Submit the form to bank officials for further processing
Step 6: A confirmation mail/message will be sent by the bank after linking.
A PAN card is one of the most important documents for filing tax returns, identification proof, conducting financial transactions and many others. Any income-earning or non-income earning individual or non-individual entities should possess the PAN card. If any of the account holders fail to do so, they have to submit Form 60/61 stating the reason of not possessing it.