Post Office Rule Change- PAN Card Mandatory for All Transactions – Breaking News & Live Updates Today

Post Office PAN Card: Big news for PAN Card and Post Office account holders. If you have a post office account or are involved in a post office scheme, you will now need a PAN card to make any deposits or withdrawals. A significant update has been implemented at the post office in accordance with the Income Tax Act, 2026. From now on, a PAN will be essential for any financial transaction. Additionally, there has been a modification to a form.

As per the new Post Office regulations, account holders must present their PAN card for any transaction, whether they are part of a Post Office scheme or using the Indian Post Payments Bank. A PAN card is now required for both depositing and withdrawing funds.

Why was this adjustment necessary?

Under the updated regulations, it is now compulsory to provide a PAN number for various transactions, including opening a post office account, making deposits, withdrawals, and investing in fixed deposits. This requirement is outlined in Rules 159, 160, 161, 211, and 237 of the Income Tax Rules, 2026. The intention behind this change is to enhance transparency, keep track of high-value transactions, and minimize the risk of tax evasion within the post office savings framework.

What should you do if you lack a PAN?

For those who do not possess a PAN card, there has been a separate adjustment to the rules. Depositors will now need to fill out Form 97 instead of Form 60. This form must include the depositor’s name and address, the type of transaction, and supporting documents that validate the transaction. Post offices are responsible for gathering this information to ensure that transactions conducted without a PAN number are accurately recorded in the tax system.

These regulations have also been updated at the Post Office

Another modification includes merging Forms 15G and 15H into a single Form 121. Previously, Form 15G was used for individuals under 60 years old, while Form 15H was for senior citizens to prevent TDS deductions on interest. Now, only Form 121 needs to be submitted each financial year. This applies only if the taxpayer’s estimated total taxable income is zero. This change is effective immediately.

What will be the impact on investors?

With these new rules, the Income Tax Department will now directly monitor the interest earned on post office savings schemes like RD, MIS, or time deposits. This may slightly increase paperwork for small investors, but it will bring transparency to the system. The department has clarified that post office records will be kept secure for seven years. Until the system is fully updated, old forms will still be accepted, but the new system will be fully implemented soon.