| Dear Customer, |
| We hope you are doing well. |
| It has been observed that your PAN and Aadhaar are yet to be linked as on 28/03/22. |
| We would like to inform you, that as per the directive issued by the Government of India, your PAN needs to be linked with your Aadhaar by March 31, 2022. |
| If the PAN and Aadhaar are not linked before the said date, then it could result in your PAN becoming inoperative. |
| You can conveniently link your PAN with Aadhaar online by visiting the Income Tax e-filing website and following the steps listed there. |
| | to visit the Income Tax e-filing website now. | |
| What happens if your PAN is not linked with Aadhaar? | | • | If the PAN is inoperative, then the TDS (Tax Deducted at Source) & TCS (Tax Collected at Source) will be deducted/collected at the higher rate | | • | Form 15G & 15H would become invalid and accordingly the TDS provisions would be applicable | | • | TDS/TCS once deducted/collected at higher rate, cannot be refunded/adjusted even if the PAN is subsequently linked to the Aadhaar | | Above consequences are merely illustrative and not exhaustive or comprehensive. | | Not linking your PAN and Aadhaar may also affect your Bank account: | | • | As per RBI’s Master Directive on KYC (Know Your Customer)/AML (Anti-Money Laundering) & Income Tax regulation, a valid PAN is mandatory to complete the KYC process | | • | For the smooth operation of your account, linking a valid PAN with Aadhaar is critical | | • | In absence of a valid PAN, the Bank shall be constrained to restrict operations in the Account/s held by you. This may also impact honouring any cheques issued and/or Standing Instruction/ECS that are set up on your account | |
| Please ignore this message in case your PAN is already linked to your Aadhaar in the Income Tax database. |
| For further assistance, please call our Customer Experience Centre or visit the nearest Bank branch. |
| Thank you for banking with us and assuring you of our best services at all times. |
Warm regards,
Team Kotak Mahindra Bank |
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