PAN CARD SERVICES
The Bank has entered into Tie-up arrangement with UTI INFRASTRUCTURE & TECHNOLOGY SERVICES LTD., a Govt. Of India Company for collection of PAN CARD applications from Indian Citizens. Under this arrangement the customer is required to submit the application along with ID proof & address proof by paying Rs.110/- towards Fees. The bank will receive such applications, scrutinize and submit the same to the above company for issue of PAN card directly to the applicant.
In terms of Sec.206AA of Income Tax Act 1961, introduced by Finance (No.2) Act 2009 with effect from 1st April 2010, it is mandatory for every person including Non Resident, entitled to receive any sum or income or amount on which TDS deductible, to furnish his/her PAN CARD to the Bank, failing which TDS will be deducted at the rate of 20% or rate applicable which ever is higher.
Declaration in Form No.15G/15H for non deduction of TDS shall be treated invalid if PAN is not quoted in the said forms and bank shall proceed with deduction of TDS at higher rate as mentioned above.
Persons desiring of availing the above facility may contact any of our Branches.