If your PAN-Aadhaar are not linked will your salary get credited in your bank account?
If an individual’s PAN was not linked with Aadhaar by June 30, 2023, then their PAN will be classified as ‘inoperative’.
According to income tax rules, an inoperative PAN is the same as an individual not having a PAN. Hence, an individual will not be able to quote PAN, wherever it is mandatory such as for the opening of a bank account, investing in bank FDs etc.
If your existing PAN has become inoperative, then you may have questions about banking transactions. For instance, will an inoperative PAN impact credit of salary in a bank account? Will it have an impact on the issue or usage of debit or credit cards?
ET Wealth Online spoke to different banks on issues an individual may have with an inoperative PAN. Here is what they had to say.
Will an individual’s salary be credited to their bank account if PAN is inoperative?
Anil Rao, Head — Consumer Operations & Solution Delivery, IndusInd Bank: “If PAN is not linked to Aadhaar, such PAN will be treated as inoperative (i.e., the person will not be able to furnish, intimate or quote his PAN). However, the salary shall continue to be credited in the bank account even in case of inoperative PAN.”
You can file ITR even if PAN and Aadhaar not linked or PAN is inoperative: Income tax dept
Puneet Kapoor, President — Products, Alternate, Channels and Customer Experience Delivery, Kotak Mahindra Bank: “Payment of salary and deduction of TDS is done by the employer. Banks do not restrict credit of salary in customer’s bank account.”
Ashish Misra, Chief Operating Officer- Retail Banking at Fincare Small Finance Bank: “There could be a delay in receiving the salary in their bank account. Employers usually require a valid PAN for salary processing, and if the PAN is
