If you have not paid Income Tax Return in the last three years and you have drawn more than Rs.
If you wish to escape from this tax, you must submit your PAN card information to the bank. Submit your Income Tax Submission Receipt to the bank.
If you have already submitted PAN card information to your bank, you do not need to submit it again. In addition, you will have to submit the details of your income tax returns to the bank. This will save you TDS payments.
There is no need to pay any fees if you have provided PAN details in your CIF account to withdraw money up to Rs 20 lakh. In case you have withdrawn Rs 20 lakh from a CIF account and submitted a PAN card, you will be deducted only 2% and TDS will be deducted at the rate of 20%.