Permanent Account Number (PAN) is a proof of identity for every Indian and Non-resident Indian citizen. It’s a 10 digit number that verifies you as a tax paying responsible citizen of India. It is an alphanumeric number that is different for every citizen and stores the data about tax payment in an electronic form. The PAN Number is allotted to individuals and can be owned by the citizens through a PAN card. The PAN card can be produced as a proof for your identity as it contains your PAN number, name, and Date of birth. The PAN card can be obtained from the Income Tax Department of India.
Linking your Pan Card with Canara Bank is Mandatory for Opening an Account
Canara Bank is one of the leading banks in India. It was established in 1906 and aims to provide a one stop destination for fulfilling all the consumer’s banking needs. It is a government authorised bank and follows all the regulations issued by the central government. Canara Bank does not permit any customers to open a bank account without having a PAN card.
How to link your Pan card with Canara bank?
All PAN card holders are expected to link their pan with a bank account. The PAN card can be linked to your Canara Bank account through online as well as offline methods.
Offline Method to link our PAN card with Canara bank account:
- Visit a nearby branch of Canara Bank
- Enquire about the PAN updation procedure
- You need to have a photocopy of your PAN card as well as the original copy for verification
- The bank staff will provide you a PAN updation form
- Fill the form neatly and correctly without any mistakes
- Submit the form to the concerned official
You’ll get an update about your pan being linked to your account. (It might take 10-15 days)
Can you link our PAN card with Canara bank account online?
There is no option to link your Pan card with your Canara Bank account online. But you can update your Pan with your bank account online.
- Visit the official website of Canara Bank.
- Download the PAN updation form.
- Find the PAN updation detail form
- Fill out the form accurately
You can submit the form to a nearby branch of Canara Bank and submit your form. You’ll receive an update about your PAN getting linked with your bank account after verification.
Why is it necessary to link your PAN card with Canara Bank
Canara Bank is one of the largest public sector banks. It secures your banking services and also follows the government guidelines. Canara Bank helps you enjoy the benefits given by the government by keeping your account updated and linked with necessary documents. One of them is linking your account with a PAN card. You can get the following benefits after getting your Pan linked with your account :
- You need a PAN card to open an account. So no one else can open a bank account in your name if your PAN card is linked with your bank account. Any such duplication will be immediately detected by your bank. This keeps your account safe and secured.
- The Income Tax Department can track your income and you have to pay your taxes accordingly. You’ll be a responsible citizen and free from any tax-evasion criminal offense.
- With your PAN card linked to your bank account, you’ll have a complete track of your investments and spending.
- You can get some government subsidies or benefits if your PAN is linked to your account.
Let us know under comments if you have any question on linking your PAN card with your Canara bank.