- The Finance (No.2) Act, 2009 had introduced a new section 206AA in the Income Tax Act with effect from 1 April 2010, which provides that any person, whose receipts are subject to deduction of tax at source, shall mandatorily furnish his PAN to the deductor.
- Otherwise TDS at higher rate will be deducted.
- This is also applicable to non-residents
- It also provides that PAN so furnished shall be indicated in all correspondence, bill, voucher and other documents which are exchanged between the both the deductee and the deductor
- Form no.15G or 15H furnished (for getting interest without TDS, applicable to persons other than companies, firms and non-residents) without mentioning the correct PAN of the depositor will not be accepted from 1 April 2010 onwards
Why do you need PAN Card?
- Ease in filing Income Tax Returns.
- You will be charged less TDS on furnishing your PAN.
- If you are having tax exemptions, PAN is a must.
- It will serve as an identity proof.
- Collect the PAN Card application from any of our Branches or download it from our website.
- Fill up the application, affix a photo and submit it to your nearest Federal Bank Branch.
- Instructions for filling up the application are available in the application form itself. (Pages 3 & 4)
- Only a Pass Sheet with minimum two customer-induced transactions in the last six months signed by the Bank Official is sufficient.
- If your account is not having customer induced transactions in the last six months, then you can submit copy of any other Identity Proof/Address proof (list of documents given in Page No.4 of Application Form).
- Remit an amount of Rs.96/- at the time of submission of the application. Alternatively, you may give a cheque favouring the bank for this amount.
- The Branch will verify the address given in the application with that the address registered in our system.
- You will be provided a signed acknowledgement. The Processing Fee Coupon number will be intimated separately wherever mobile numbers are available.
- When the PAN Cards are ready they will be despatched to you directly
- We will be accepting application for PAN from resident customers only
Apply Online for PAN Cards
If you are a resident customer, you can apply for PAN cards through any of our branches.
Immediate Payment Service
Federal Bank is the first bank to introduce IMPS service through Internet Banking in the country.
Use ATM Free-of-Charge Anywhere
You can use your Federal Bank Debit card in any ATM, any number of times absolutely free
Precautions for filling Form
- While filling up the application, take extra care in filling up the Name
- The Last Name/Surname should be your name and first name should be the expansion of your first initial and middle name should be the expansion of your second initial. (This is for individuals).
- For example, if your name is P K Krishna Kumar, your last name/surname should be Krishna Kumar and first name should be expansion of P (say Palappilly) and middle name should be expansion of K (say Karunakaran)