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A PAN card is a legal proof of identity and financial institutionssuch as banks recommend you to link your PAN number with your bank accounts. If you have an account with the State Bank of India (SBI) and if you haven't been able to link your PAN card to your account, you can do it via both online and offline modes.In this blog, you will learn how to link your SBI-PAN number through internet banking and by visiting the bank's branch offline. You will also read about the reasons why you should execute an SBI-PAN number link.
Key Highlights:
- To link your SBI-PAN number online, you can visit the SBI website and login with your net banking credentials.
- To link your SBI-PAN number offline, you can visit an SBI bank branch and submit an application form along with a copy of your PAN card.
- Linking your SBI-PAN number enables the Income Tax Department to effectively track your income and expenditure, which is useful for various taxation purposes.
How to Link SBI-PAN Number Online?
If you are an SBI account holder and have access to net banking, you can link SBI-PAN number yourself by using your net banking credentials. Given below are the steps you need to follow to link SBI-PAN number online:
- Step 1 - Visit the official SBI website.
- Step 2 - Login with your customer ID and password.
- Step 3 - On the homepage, click 'Profile-PAN Registration' option under the 'My Accounts' section that appears on the left panel of the screen.
- Step 4 - You will be redirected to a page where you will be required to choose your account number and enter your PAN card number.
- Step 5 - Next, click 'Submit' option.
- Step 6 - After this,your request to link SBI-PAN number will be processed.
The SBI-PAN number linking request usually takes up to 7 days. The status of the request will be sent to you on your registered mobile number.
How to Link SBI-PAN Number Offline?
Given below are the steps you need to follow to link SBI-PAN number offline, by visiting the bank's branch:
- Step 1 - Visit an SBI branch nearyou and carry a copy of your PANcard.
- Step 2 - At the bank,fill in a 'letter of request'with the information required.
- Step 3 - Submit the form with a copy of the PAN card to the bank official.
- Step 4 - After verification of the details entered by you in the form, the request for SBI-PAN number linking will be processed.
After the request is processed, you will receive the status of the same on your registered mobile number via an SMS.
Importance of Linking Your SBI-PAN Number
It is recommended to link your PAN card with your SBI account to conduct hassle-free transactions. Linking your SBI-PAN number enables the Income Tax Department to track your incomes and expenditures, which is essential for raising tax-payer queries and tracking tax evasion malpractices. You should link your PAN card to your bank accounts to avail income tax refunds directly to your account. Hence, linking your PAN card and bank accounts plays a critical role in taxation.In fact, if you haven't linked your PAN card with your bank account, you won't be able to deposit more than ₹50,000 in a fixed deposit. Additionally, the PAN card-bank account linkage enables financial institutions to prevent money laundering cases; besides identifying and removing duplicate bank accounts in the same bank.
Linking SBI-PAN Number Made Easy
You can easily link your SBI-PAN number either via internet banking or by visiting a bank's branch and following the steps explained in this blog. Remember to carry a copy of your PAN card if you are visiting the bank's branch to get the linking process done. Always fill in the correct details such as your account number and PAN number if you decide to initiate the SBI-PAN number linking process via internet banking. Also Read: How to Obtain PAN Card For Company
FAQS - FREQUENTLY ASKED QUESTIONS
Can I link my SBI-PAN number?
It is recommended to link your SBI-PAN number.
How can I link my SBI-PAN number?
You can link your SBI-PAN number either via internet banking or by visiting a bank's branch and following the steps given in this blog.
How can I link my SBI-PAN number offline?
You can link your SBI-PAN number offline by visiting the bank's branch. Carry a copy of your PAN card and fill in the letter of request to initiate the linking process.
How can I link my SBI-PAN number online?
You can link your SBI-PAN number online through the official SBI website. Login with your customer ID and password and click on the 'Profile-PAN Registration' option to initiate the linking process.
How can I link my SBI-PAN number via SMS?
You can link your SBI-PAN number via SMS by sending UIDPAN 12-digit Aadhaar number 10-digit PAN to 567678 or 56161 from your mobile number registered with the bank.
What are the charges to execute an SBI-PAN number link?
There are no charges or fees applicable to link your SBI-PAN number.
If I have two accounts with SBI, can I link both of them with my PAN card?
You can link all your bank accounts with your PAN card number.
Is it mandatory to execute an SBI-PAN number link?
It is mandatory to execute an SBI-PAN number link.
How to check if my PAN card is linked to my SBI account?
To check if your account is linked to your PAN card, login to the official income tax e-filing portal using your user ID and password and verify your bank account details.
Can I open a new account with SBI without a PAN card?
It is mandatory to provide your PAN card if you want to open a new account with SBI.
The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.
