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- Key Highlights
- Why Link NPCI Aadhaar with Bank Account?
- Steps to Link Aadhaar and Bank Account through NPCI Online
- Advantages of Linking Aadhaar and Bank Account to NPCI
- TDS Rates Where the Company is a Domestic Company
- TDS Rates Where the Company is Not a Domestic Company
- Income Tax TDS Rates Applicable for NRIs
- Connect Your Aadhaar and Bank Account with NPCI Today
Linking your Aadhaar to your bank account through NPCI (National Payments Corporation of India) is essential for hassle-free financial transactions and accessing government benefits. This guide provides a clear and concise procedure to help you seamlessly link Aadhaar to Bank Account and NPCI online . By following these steps, you can enhance the security of your financial transactions, simplify the KYC process, and ensure direct benefit transfers (DBT) with ease. Learn how to connect your Aadhaar and bank account with NPCI to enjoy these advantages and more.
Key Highlights
- The process of receiving government subsidies and financial benefits can be made easy if where your Aadhaar is linked to your bank account and NPCI.
- A clear procedure on how to link Aadhaar with NPCI and how to link Npci with bank account.
- NPCI Aadhaar linking has added several advantages, including security and simplified KYC (know your customer) being a few of them.
- Learn how to link Aadhaar to bank account through Npci with the National Payments Corporation of India.
Why Link NPCI Aadhaar with Bank Account?
Linking your Aadhaar to your bank account via NPCI offers numerous benefits:
- Direct Benefit Transfers (DBT)
- Facilitates the provision of directed subvention and welfare.
Simplified KYC
Simplifies banking and financial sectors Know Your Customer (KYC) process.
Enhanced Security
Ensures a safer and single identification process for all financial transactions.
Reduced Fraud
Reduces the instances of identity fraud because all identities are consolidated in one central point.
Convenience
Ensures convenience when it comes to accessing some of the general services that entail the use of banking institutions as well as various government programs. Also Read : How to Link Aadhaar Card to Bank Account
Steps to Link Aadhaar and Bank Account through NPCI Online
1. Visit Your Bank’s Website or Mobile App
Almost all the leading banks have an online facility or a phone app where you can begin the NPCI Aadhaar link bank account onlineprocess. Through the account you have created, use your login details to access the account.
2. Navigate to the Aadhaar Linking Section
Search for the section that relates to the Aadhaar linking as it is usually labelled under 'Services' or 'My Account.'
3. Enter Your Aadhaar Details
To find the name of the Aadhaar card holder enter the 12-digit Aaadhaar card number in the blank spaces provided. Ensure the number is correct to minimise any mistakes in the linking process.
4. Verify Your Aadhaar Information
One or two banks may prompt the use of OTP sent to the linked Aadhaar registered mobile number or biometric authentication of the Aadhaar number at any branch.
5. Submit the Request
Once you have confirmed the information, you can further apply for the linking process. The process, selection and assignment will take some time, and a confirmation message or e-mail will be sent after the process is completed.
6. Check the Status
If you have forgotten which process you performed last to link the Aadhaar card , you have to follow a few steps to check the Aadhaar link status of your bank accounts:
- Visit the official website of your bank
- Open the feedback section or the customer care section
- Get in touch with a customer care executive.
Also Read: How to Link an Aadhaar Card with SBI Bank Account?
Advantages of Linking Aadhaar and Bank Account to NPCI
Linking Aadhaar Card with NPCI through your bank account offers multiple advantages:
Efficiency
Facilitates the procedures of payment and subsidy collection.
Security
Reduces the chances of performing a transaction with a forged card by making use of a card identification number.
Accessibility
It ensures that you do not have any problem getting all the benefits you are legally entitled to from the government.
TDS Rates Where the Company is a Domestic Company
|
Particulars |
TDS Rate |
| Section 192: Payment of salary | Normal Slab Rate |
| Section 192A: Premature withdrawal from EPF | 10% |
| Section 193: Interest on securities | 10% |
| Section 194: Payment of any dividend | 10% |
| Section 194A: Income in the form of interest (other than interest on securities) | 10% |
| Section 194B: Income by way of lottery winnings, card games, crossword puzzles, and other games of any type | 30% |
| Section 194BB: Income by way of horse race winnings | "> 30% |
| Section 194C: Payment to contractor/sub-contractor | - Individuals/HUF: 1% - Others: 2% |
| Section 194D: Insurance commission | 10% |
| Section 194DA: Payment of any sum in respect of a life insurance policy (w.e.f. 1st Sept 2019, on income portion) | 5% |
| Section 194EE: Payment of amount under National Savings Scheme (NSS) | 10% |
| Section 194F: Payment due to repurchase of a unit by UTI or Mutual Fund | 20% |
| Section 194G: Commission on sale of lottery tickets | 5% |
| Section 194H: Commission or brokerage | 5% |
| Section 194-I: Rent - Plant and Machinery: - Land/building/furniture/fitting: (limit ₹2.4 lakhs p.a.) | 2% 10% |
| Section 194-IA: Payment for transfer of immovable property (other than agricultural land) | 1% |
| Section 194-IC: Payment under Joint Development Agreements (JDA) to Individual/HUF | 10% |
| Section 194J: Fees for professional/technical services, royalty, etc. | - General: 10% - Technical services (call centers): 2% |
| Section 194K: Income from units of mutual fund | 10% |
| Section 194LA: Compensation on acquisition of immovable property | 10% |
| Section 194LBA(1): Income distributed by business trust to unitholder | 10% |
| Section 194LBB: Income paid in respect of units of an investment fund | 10% |
| Section 194LBC: Income from investment in securitisation fund | 10% |
| Section 194M: Certain payments by Individual/HUF (limit ₹50 Lakhs) | 5% |
| Section 194N: Cash withdrawal exceeding ₹1 crore - ₹20 lakh–₹1 crore (for non-ITR filers): 2% - Above ₹1 crore: 5% | 2% 5% |
| Section 194O: E-commerce operator payments | 1% |
| Section 194Q: Payments for purchase of goods (value exceeds ₹50 lakhs) | 0.1% |
| Any Other Income | 10% |
TDS Rates Where the Company is Not a Domestic Company
|
Particulars |
TDS Rate |
| Section 194B: Income by way of lottery winnings, card games, crossword puzzles, and other games of any type | 30% |
| Section 194BB: Income by way of horse race winnings | 30% |
| Section 194E: Payment to non-resident sportsman/entertainer or non-resident sports association | 20% |
| Section 194G: Commission on the sale of lottery tickets | 5% |
| Section 194LB: Payment in respect of compensation on acquisition of certain immovable property | 5% |
| Section 194LBA(2): Payment of: - Interest income from SPV to business trust & distribution to unitholders: 5% - Dividend income from SPV to business trust (full shareholding except govt. stake) & distribution to unitholders: 10% |
| Section 194LBA(3): Rental income from real estate assets owned directly by business trust, distributed to unitholders | 40% |
| Section 194LBB: Certain income by an investment fund to a unitholder | 40% |
| Section 194LBC: Income from investment in securitisation fund | 40% |
| Section 194LC: Interest on loans in foreign currency by Indian companies/business trusts: - General: 5% - Long-term bonds listed on IFSC: 4% | 5% 4% |
| Section 194LD: Interest on rupee-denominated bonds to Foreign Institutional Investors or Qualified Foreign Investors | 5% |
| Section 195: Payment of any other sum: - LTCG under Section 112(1)(c)(iii): 10% - LTCG under Section 112A: 10% - STCG under Section 111A: 15% - Any other LTCG: 20% - Interest on foreign currency loans: 20% - Royalty (copyright/computer software agreements post-1 Mar 1976): 10% - Royalty (industrial policy agreements post-31 Mar 1961 but before 1 Apr 1976): 50% - Technical fees (industrial policy agreements post-29 Feb 1964 but before 1 Apr 1976): 50% - Any other income: 40% | 10% 10% 15% 20% 20% 10% 50% 50% 40% |
| Section 196B: Income (including LTCG) from units of an offshore fund | 10% |
| Section 196C: Income (including LTCG) from foreign currency bonds or GDR of an Indian company | 10% |
| Section 196D: Income (excluding dividend and capital gain) from Foreign Institutional Investors | 20% |
Income Tax TDS Rates Applicable for NRIs
|
Nature of Payment |
TDS Rate |
| Payment of salary (Section 192) | Normal Slab Rate |
| Payment of accumulated balance of provident fund (Section 192A) | 10% |
| Income from winnings (lotteries, crossword puzzles, card games, etc.) (Section 194B) | 30% |
| Income from winnings from horse races (Section 194BB) | 30% |
| Payment on deposit under National Savings Scheme (Section 194EE) | 20% |
| Payment on repurchase of Mutual Fund or Unit Trust of India (Section 194F) | 20% |
| Commission on sale of lottery tickets (Section 194G) | 10% |
| Interest on infrastructure debt fund (Section 194LB) | 5% |
| Interest income distribution by a Business Trust (Section 194LBS(3)) | 30% |
| Distribution of income by an Investment Fund (Section 194LBB) | 30% |
| Distribution of income by a Securitisation Trust (Section 194LBC) | 30% |
| Interest income from Indian company on funds borrowed in international currency (Section 194LC) | 5% |
| Interest on certain government securities and rupee-denominated bonds (Section 194LD) | 5% |
Connect Your Aadhaar and Bank Account with NPCI Today
It is mandatory to connect your Aadhaar and your bank account with NPCI as it is part of the processes that enhance the security of bank transactions. using the processes discussed in this guide, you can easily finish the NPCI Aadhaar link bank account onlineprocess.
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.
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