Pan card name and bank account name difference

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This query is : Resolved

Asim Ahmed Shaikh (Querist)

06 November 2018 Hi, this may not be related to CA but I guess this group can be of help to me. I had PAN card with name as SK ASIM and all documents has full name as Asim Ahmed Iqbal Ahmed Shaikh. So as per PAN name my bank account name is same as SK ASIM. For a reason, I had to correct name on PAN card to full name and now the new PAN card as well as on other documents the name is Asim Ahmed Iqbal Ahmed Shaikh. Now I have 2 PAN cards with same PAN (number), however, the bank is not ready to update/correct my name and asking me to apply for change of name in Gazette. Actually my name is not changed, its same in the income tax department from beginning. Its just the name reflected on old PAN card was initials and now the full name. Though I have produced my original IDs in bank they are forcing me for Gazatte. So basically any alternative to update name in bank other than Gazette?

CA Suresh Jain

CA Suresh Jain (Expert)

07 November 2018 It is very difficult to make the Bank understand. I also faced the similar issue where I wanted the name of the account holder to be corrected as per another ID but bank had no procedure to change the Title of the account. In this case, I opened another bank account with another ID and operating both the accounts. You may open another account in the same bank

Asim Ahmed Shaikh

Asim Ahmed Shaikh (Querist)

07 November 2018 Thank you very much for your reply. I also have the same thought. But, I wanted to know that if I have to open the account in the same bank then do I have to close my present account and then open a new account or I can do it at the same time?

CA Suresh Jain

CA Suresh Jain (Expert)

07 November 2018 So far present position is concerned, no need of closing the earlier account.

Asim Ahmed Shaikh

Asim Ahmed Shaikh (Querist)

07 November 2018 Thank you very much Suresh for your reply.

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