Why did PAN verification fail while opening a 021 Trade account?

PAN verification may fail while opening a 021 Trade account due to one or more of the following reasons:

1.    Mismatch in Name or Date of Birth: The details entered (name or DOB) may not exactly match the records in the Income Tax Department database. Even a slight difference in spelling or order (e.g., Sharath Suresh vs Suresh Sharath) can cause a failure.

2.    Incorrect PAN Number: A typo in the PAN number entered during application.

3.    PAN Not Linked with Aadhaar: As per government rules, PAN must be linked to Aadhaar. If it isn’t, the verification may fail.

4.    Inactive or Deactivated PAN: If the PAN is not active or has been deactivated by the ITD, it cannot be verified.

5.    Technical Glitch: Sometimes temporary issues with the PAN verification service can cause failure.

To resolve this, double-check the name and date of birth as per your PAN profile by logging in to incometax.gov.in/iec/foportal > click your name > My Profile. Make sure the same format is used in your 021 Trade application.