NEW DELHI: If you have not linked your PAN (Permanent Account Number) with your bank account yet, do so immediately, so that you receive income-tax refunds.
The income-tax department, in a public advisory last week, made it mandatory to link bank accounts with PAN for getting refunds directly to one’s bank account. It said it will “only” issue refunds via e-mode into bank accounts of taxpayers beginning March 1.
The move comes after the I-T department made it mandatory to link PAN with Aadhaar for filing income-tax returns (ITR). It has set March 31 as the due date for linking PAN to Aadhaar.
How to link Pan-Aadhaar:
Via ITR: An individual can submit a request to link Aadhaar number with PAN while filing ITR online (e-filing). The link for e-filing is available on the websites of NSDL (tin-nsdl.com) and UTIITSL (utiitsl.com), as well as the income tax e-filing portal.
Via SMS: A user can also link PAN with Aadhaar number through an SMS facility. According to I-T department’s website, the user is required to send an SMS to 567678 or 56161 in the following format:
UIDPAN <12-digit Aadhaar> <10-digit PAN>