SBI Customer Alert: The State Bank of India has alerted its customers about updating certain documents to enjoy a hassle-free banking services at its branches across the country. According to the SBI, if your Permanent Account Number (PAN) and Aadhaar are not linked, then man of your banking transactions are going to be affected soon.
Moreover, the Income Tax Department has earlier extended the deadline till September 30 to link PAN with Aadhaar. The PAN cards which are not linked to Aadhaar will automatically become useless and declared inoperative after the deadline is over.
“If a person fails to intimate the Aadhaar number, the permanent account number allotted to such person shall be made inoperative after the notified date in the manner as may be provided by rules,” according to Clause 41 of Section 139AA of the Income Tax Act.
As per the updates from the Income Tax department, Permanent Account Number is a ten-digit unique alphanumeric number and it helps the tax officials to prevent tax evasion and frauds as it is linked to all financial transactions made by an individuals.
To prevent any fraud or untoward situation, the banks have started asking customers to link their PAN and Aadhaar details soon. “We advise our customers to link their PAN with Aadhaar to avoid any inconvenience and continue enjoying a seamless banking service,” State Bank of India (SBI) mentioned on Twitter.“If not linked, PAN will be rendered inoperative or inactive and cannot be quoted for conducting specified transactions,” SBI said in a statement.
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