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Notice to the Customers As per Finance Act (2) of 2009, Permanent Account Number (PAN) is required to be obtained in all cases before deduction of taxes at source (TDS) and for issue of TDS Certificate in Form No. 16 or 16A. Income Tax Department has made it mandatory to quote PAN in all such cases and TDS at a higher rate of 20% will be deducted on the interest of depositors if PAN is not quoted by deductee /beneficiary. In view of the above amendment, all our esteemed customers who are having deposit with the Bank with Interest Income qualifying for TDS are requested to submit PAN to the respective branch where they are having deposits. Kindly produce original PAN card along with a copy of the PAN card while submitting the same to the branches. Please note that the above law is applicable to Residents as well as Nonresidents. In Case, the deductees are not having PAN they must obtain the same latest by 31st March 2010 and immediately submit the same to the Bank.
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