PAN Aadhaar Linking – Failure to do so to attract higher TDS; Know complete story here
Many banks including the second largest private sector Bank – ICICI Bank have been sending messages to the customers to link it before the deadline ends. It has informed the customers that failure to link PAN with Aadhaar will also attract a higher TDS rate on interest earned and might also impact certain bank transactions where PAN is considered
As per section 139AA of the Income Tax Act 1961, it is mandatory to link your Permanent Account Number (PAN) with your Aadhaar by 31 March 2021