40% of Bank Customers in Assam Link PAN with Aadhaar

STAFF REPORTER

GUWAHATI: Only 40 percent of bank customers in Assam have so far linked their Permanent Account Number (PAN) and Aadhaar card even the deadline for such exercise is fixed on June 30, 2021.

Clause 41 of Section 139AA of the Income Tax Act has stipulated that if a person to intimate the Aadhaar number, the PAN allotted to such person shall be made inoperative after the notified date in the manner as may be provided by rules.

"We have been advising our customers to link their PAN and Aadhaar to avoid any inconvenience and continue enjoying seamless banking service. Even though some customers are very prompt, many despite having both PAN and Aadhaar have not conducted the exercise. If not linked, PAN will be rendered inoperative or inactive and cannot be quoted for conducting specified transactions," an official of State Bank of India (SBI) said.

PAN is mandatory to open bank accounts, applying for credit cards & debit cards, starting Demat accounts among other things. If an individual deposits more than Rs 50,000 in his or her bank account, he has to produce his PAN. Several other banking services will be affected if PAN becomes inoperative or inactive.

An official of a private bank said many customers still do not have an Aadhaar card as the enrollment drive for Aadhaar had started late in Assam. He said the Aadhaar enrollment exercise was also badly hit by the Covid-19 pandemic in 2020 and the first part of 2021.

"We have been sending SMS to registered mobile numbers of our customers. Many customers have responded by stating that they are yet to have their Aadhaar cards," the private bank official said.

A State Government official said the Centre might exempt residents of Assam who do not have Aadhaar, from the linking exercise within June 30. He, however, did not specify about fates of those individuals who possess an Aadhaar card and have not linked the same with PAN.

Also Read: General Administration Department, Assam Sets Deadline for Aadhaar Enrollment by August 31, 2021