APPLY FOR PAN CARD THROUGH SBT BRANCHES.
As per the new notification from Income Tax Dept made effective from 01.04.10 Income Tax to be deducted Source at the rat of 20% or higher applicable rate, if Permanent Account Number (PAN) is not furnished in the following cases.
a) For all transactions liable to TDS
b) Application made for TDS at lower rate or for Non deduction under section 197
c) Any declaration under section 197 A for non-deduction of TDS i.e,, where Form 15G / Form 15H is submitted
For Domestic customers:
TDS is applicable @ 10% if interest on Fixed deposits (aggregate deposits) exceed Rs.10,000/- in a financial year. Exemption of TDS allowed on submission Form 15 H or Form 15 G.
Now
if PAN is not submitted, TDS will be deducted at 20% or at a higher rate and
declarations in 15H and 15 G shall not be accepted by the Bank.
For NRIs
Interest income on NRE / FCNR are exempted from
Income Tax. Hence no need of PAN for this purpose.
However to avail the benefit of reduced
TDS rate on NRO deposits as per as per DTAA,
PAN is a MUST as per recent notification from Income Tax Dept (wef
01.04.10). TDS at the higher rate will
have to deducted in cases where PAN is not furnished.
Importance of PAN
PAN Card has thus become a mandatory proof for availing the above tax benefits for a bank customer. In addition, a PAN card has become mandatory document for many transactions in our day-to-day life.
1.
As an identity
proof.
2.
Filing of Income
Tax returns..
3.
Investments in
mutual funds.
4.
Opening Demat
and Trading accounts
5.
Investment in
capital market.
6.
Sale/purchase of
immovable properties. Etc.
How to get PAN through SBT
Now you can apply through any of our branches (Except branches in Delhi & Mumbai Zones) as per arrangements made with UTI Technology Services Limited.
The application for PAN Card is available in our Website. The detailed procedure for submitting the PAN Card application is given below.
1. Down load the application from website http://www.statebankoftravancore.com. It is also available in http://utitsl.co.in or http://incometaxindia.gov.in.
2. The application should be signed in black ink in the space provided for the same.
3. Submit the duly filled application to your nearest branch with a copy of the proof of identity and proof of address and a recent photograph (3.5 cm X2.5 cm)
4. In the case of minors, the Proof of address and identity of the parent/ guardian who applies on behalf of the minor should be submitted along with ID proof of minor (birth certificate, school certificate, passport). Paste the photo of the minor and the guardian has to sign in the appropriate column.
5. An amount of Rs.94/- to be remitted, being the fee payable to UTI Technologies Limited
6. The PAN Card will be delivered by post by UTI Technology Services Ltd in the address provided anywhere in India.
7. If the applicant prefers to get the PAN Card in his office address, proof of office address to be enclosed.
8. For Non Resident Indians, PAN Card will be delivered at their local address. If they wish to get the PAN Card at the SBT branch address (which they can collect during their next visit), please enclose separate request for the same.
9. For delivery of the PAN Card in the overseas address, an additional amount of Rs.650/- to be remitted towards courier charges. So the total charge payable towards delivery abroad is Rs.744/-(Rs.94 + Rs.650)..(The payment should be made by a Demand Draft favoring UTI Technology Services Limited drawn on Trivandrum).
Please contact
your nearest SBT branch for further details.