The Bank facilitates the application and collection of your PAN card so as to enable you to be compliant with the tax laws in India.

As per the directive from the Central Board of Direct Taxes, any individual investing an amount equal to and above Rs 50,000 in Bank deposits, Post Office deposits, Mutual Funds or Stock Markets etc., must possess a Permanent Account Number (PAN), issued by the Tax authorities. The Income Tax authorities have also made PAN compulsory for Demat Account holders, including minors, trusts, foreign corporate bodies, banks, corporate bodies, FIIs and NRIs.

Accordingly, w.e.f 1 April, 2006, PAN card proof is compulsory for the purpose of opening a new Demat Account for existing Demat Account Holders.

Keeping in view these latest directives and to enhance customer satisfaction, we have launched a special service for our NRI customers to facilitate them to obtain a PAN issued by the Income Tax Authorities, through Axis Technology Services Ltd., who have been entrusted by the Central Board of Direct Taxes to issue PAN cards.