A PERMANENT ACCOUNT NUMBER or PAN number is a unique ten-digit alphanumeric allotted to every individual who is a taxpayer. It is allotted by a reputed institution called the Income Tax Department and so serves as a valid proof to track every taxpayer’s financial transactions. To avoid any fraudulent activities and tax evasion the government has made it mandatory for every to link their PAN Card to their bank account. To be able to do the same one can either opt for an online or offline mode.

ISSUES YOU MIGHT FACE IF PAN IS NOT LINKED TO A BANK ACCOUNT:

A PAN CARD is a must to carry out transactions above RS 50000.

It is mandatory to submit your PAN details as per rule 114B of the Income Tax Act while opening a savings bank account.

PAN Details are a must while opening a Demat account.

All income tax refunds can be claimed only when your PAN is linked to a Bank account.

If an individual carries out any transactions above RS 250000 then a pan not linked to a bank account might cause issues.

LINKING PAN TO THE BANK ACCOUNT THROUGH ONLINE MODE:

1.Log Into Your Internet Banking Account

2. Enter Your User Id and Password
3. Once Logged In, Look for Services, Service Requests Etc. And Choose the Relevant Option
4. Select Pan Card Updation, Link Pan or Any Other Relevant Option
5. Enter Your Pan Number. Fill In All the Relevant Details. Once Done Ensure to Give the Correct Email Id Since All Updates Will Arrive on the Same.
6. After All the Details Have Been Entered Correctly Your Pan Will Be Linked to Your Bank Account.

LINKING PAN TO BANK ACCOUNT THROUGH OFFLINE MODE:

1. Visit The Branch In Which You Are An Account Holder.
2. Request For Pan Card Update Form (KYC Form).
3. Ensure To Fill In All The Relevant Details Correctly.
4. Submit The Form And A Self-attested Photocopy Of Your Pan Card. 
5. You Might Also Be Asked To Write A Letter Requesting The Manager To Carry Out The Update.
6. After All the Details Have Been Entered Correctly Your Pan Will Be Linked to Your Bank Account
7. CAUTION – The steps given above will vary depending on the bank’s policies, procedures etc. The above-given information serves only as a guide and does not explain each bank’s processes.