It is now mandatory to possess a PAN for filing of Income Tax Returns by Individuals, HUF, NRI, Corporate etc. It is also compulsory to quote PAN in all documents pertaining to financial transactions notified from time-to-time by the Central Board of Direct Taxes and for opening of Demat Account as directed by SEBI. PAN must be mentioned while making cash transaction above a threshold limit.
Considering the growing regulatory requirement and KYC norms for all financial transaction there are many such individuals who would require to posses PAN. Customers who already have old cards can exchange their cards for a new Tamper Proof Card.
Our Bank now offers PAN card distribution services to our customers in association with UTI Technology Services Ltd. (UTITSL). Income Tax department has authorized UTI Technology Services Ltd. (UTITSL) and National Securities Depository Limited (NSDL) to set up and manage IT PAN Service Centers to dispense PAN card in all cities & towns.
Blank application forms for PAN card are available free of cost at all our Mumbai, Navi Mumbai, Pune & Satara region branches and offices of UTITSL.