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The Government of India has requested banks to procure permanent account numbers (PAN) from all their account holders by February 28, 2017. If certain account holders do not have PAN, their Form No. 60 should be collected.
A statement issued by the Central Board of Direct Taxes mentioned that income tax rules and regulations have been revised so that every bank can link PAN or Form No. 60 (when customers do not have PAN) to bank accounts that are existent (excluding BSBDA). The notification said that this should be done by February 28, 2017, if it has not already been done. It mentioned that all customers will have to submit their PAN or Form No. 60 to their respective banks if they have not done it till now.
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