PAN (Permanent Account Number) is a unique10-digit alphanumeric code issued by the income tax department through which crucial information regarding an individual’s tax-paying abilities and income status can be tracked.PAN card is valid for a lifetime and is majorly assigned to those paying taxes. The IT department maintains a record of the same and is a vital ID Proof that is compulsory to open a bank account, apply for a debit or credit card, apply for a loan, open an FD (Fixed Deposit) or an RD (Recurring Deposit), pay for insurances and for any other financial transaction initiated by the individual.
PAN card can also be availed by companies and partnership firms and is mandatory for everyone filing for income tax refunds. Anyone, minors, students, NRIs can avail the PAN card and link it with their bank accounts for its beneficiary elements.
TIN-NSDL (Tax Information Network – National Securities Depository Ltd.) is an appointed entity by the Income Tax Department, Government of India which eases the application process of PAN Card from the comfort of your home. Whether the request is related to a new application of PAN Card or an application to make amendments in an existing PAN Card, TIN-NSDL is always at its best service in assisting the public of India in their services.
Let us understand the entire procedure of applying for PAN Card Online through TIN-NSDL:
Application Forms available/to be used:
| Query Type | Form |
| To apply for a new PAN Card. | Form 49 A for Indian citizens and Form 49 AA for NRIs |
| To reprint an existing PAN Card. | Form – ‘Request for new PAN card’ or Form for ‘Changes or correction in PAN data’ |
| To make changes/corrections in an existing PAN Card. | Form – ‘Request for new PAN card’ or Form for ‘Changes or correction in PAN data’ |
Different types of PAN card
PAN card can be availed by any individual of any age and sphere, any company, trust, business firm, in short, any entity. However, it needs to be noted here that the variants of Form 49 provided and issued by the government are to be used for a variety of purposes. here we can briefly list out the types of PAN cards that can be availed.
- PAN card for Individuals
- PAN card for Non-Resident Individuals or People of Indian Origin
- PAN card for Foreign Companies/Corporates paying tax in India
- PAN card for Indian Companies/Corporates
- PAN Card for Overseas Citizens of India (OCE) and Non-Resident Entities (NRE)
Importance of PAN Card
While we all know by now that it is mandatory to hold a PAN card majorly for filing tax refunds, let us now dwell on some of the other key uses and advantages of the PAN card.
- Filing Tax Returns
- Business Registration
- Financial Transactions
- Utility Connections
- Opening Bank Accounts
PAN Card Eligibility
In accordance with the section 139A of the income tax act, the following entities are mandated to get assigned a PAN card:
- Any individual who has or is liable to pay tax to the Income Tax Department.
- Any individual carrying out a business or any professional practice which brings to him a yearly turnover of more than Rs 5 lakh or more during any of the years of assessment.
- Any and all kinds of charitable organisations, trusts and associations.
- As per the Income tax act or any other prevalent law, any importers and exporters liable to pay any form of tax.
Application Fees:
A tentative amount (*Standard T&C apply) of Rs. 107 (including tax) for dispatching the PAN card anywhere in India and Rs. 994 for dispatching the PAN Card outside India needs to be paid as fees for applying for a new/modified PAN Card.
The payment can be paid using net banking, mobile banking using debit or credit card or by simply drawing a demand draft towards NSDL – PAN, Mumbai.
Supporting Documents Required as per rule 114(4) of Income Tax Rules, 1962:
To apply for a new PAN Card:
- For Indian citizens (individuals):
- Identity Proof – Photocopy of any one of the Government-issued identity documents like Aadhaar Card, Voter ID, Arm’s license, Pensioner card with the individual’s photograph.
- Address Proof – Photocopy of any one of the following: Electricity bills, Landline bills, Broadband bills, Passport, Driving License, Matriculation Certificate, Aadhaar card, Domicile Certificate issued by the Government.
- Date of Birth Proof – Photocopy of any one of the following documents: Birth Certificate issued by the Municipality or any authorized authority, Matriculation Certificate, Passport, Driving License.
- Aadhar Card Copy (If mentioned as a proof document)
- For Non-Indian Citizens (individuals):
- Identity Proof – Photocopy of the Passport, PIO, OCI Cards issued by the Government of India, other national or citizenship Identification Number duly attested by the ‘Apostille’ or Indian Embassy or High Court or even the Consulate where the applicant is situated.
- Address Proof – Photocopy of the Passport, PIO, OCI card issued by the Indian Government, NRE bank account statement in India, Registration certificate issued by the FRO, VISA granted, appointment letter from any Indian company, bank account statement of the applicant’s residential country.
In case of modifications/corrections:
- PAN Card copy or an allotment letter
- Proof of the change that has been requested – example, change of name, change of father’s/husband’s name, change of date of birth, etc.
Important Points to consider while filling the form:
There are relevant factors to be taken into consideration while filling the form; otherwise, the request can be terminated by the authorities:
- No Abbreviations should be used in the name (except middle name)
- No prefixes should be used like Shri, Dr, Col, etc.
- In case of an application for a special case who is a minor or a psychologically weak person, RA details – Representative Assessee should be attached
- Proof of Identity, address, and date of birth should carry the exact same details as specified in the application form without any variation.
Steps to apply for a PAN Card Online – using TIN – NSDL:
A PAN card can be applied via two ways, the convenient and popular online method, and the alternate way for those inaccessible to the internet, the offline method.
We in the next few steps will discuss the process of online application of PAN cards.
Step 1 – Visit the official website of TIN-NSDL – https://www.onlineservices.nsdl.com/paam/endUserRegisterContact.html, and the individual should go to the services section and click on the PAN section. For off line – https://www.tin-nsdl.com/downloads/pan/download/Form49A_NSDL%20e-Gov_01.06.16.pdf
Step 2–Fill in the relevant details on the form as asked keeping the captcha code as asked and other relevant details. Then click on Submit
Step 3– The Next Page will ask for important information which should be kept handy before filling the form:
- Relevant Documents to apply for a PAN Card (as discussed above) using e-KYC or e-Signatures.
- Enter details regarding contact details, address, and source of income of the applicant
- Vital details about the Assessing Officer (AO) to understand the tax jurisdiction the applicant qualifies for (info found on the website itself)
- Upload identity ad KYC documents, photograph, signature, and click on Submit.
Step 4 – The required payment needs to be paid, and the mobile number needs to be verified using an OTP.
Step 5 – A receipt will be issued, which carries the 15-digit acknowledgment number (which needs to be noted). The same should be posted to the NSDL office via post/courier after signing it.
How to track PAN Card Application Status?
The 15-digit acknowledgment should be properly noted down as this will help the applicant in tracking the status of the PAN card through:
What are the details held in the PAN card?
The PAN not just manages the financial statuses but also works as an identity proof holding the very generalized and basic information like:
- Name of the cardholder
- Name of the cardholder’s father
- Date of birth
- PAN number (unique 10-digit alphanumeric computerized code)
- Signature of the cardholder
- Photograph of the cardholder.
PAN Card is a vital document that is held accountable for almost all of the transactions made by an individual. It is mandatory for the taxpayers to have access to a PAN card. In many cases like TDS and other tax-related scenarios, anyone inaccessible to a PAN card needs to pay higher rates and miss out on the various advantages offered by the organisation. It also falls under the duty of all responsible citizens to have transparent transactions and help the government from tax frauds.
Read More:
Aadhar Card Status
Aadhaar Card Download
Instant PAN Card through Aadhaar
PAN Card Mistakes – To Avoid
How to Link Aadhaar with PAN Card
PAN Card Apply Online FAQs:
1. What is the use of a PAN card?
PAN Card is used for processing any financial transactions (cash payment above Rs. 50000 and other account-related transactions) made by the individual using his account, income-related details, payments or receipts towards – insurances, securities, shares and taxation records of the person. PAN card helps in maintaining the record of each detail and can be used whenever required.
2. How the PAN card works?
PAN Card is usually attached to all Bank Accounts and other Government or Non-Government financial transactions held by the applicant and is registered with the Income Tax Department in the form of an account number.
3. Is there a possibility for the PAN Card to be misused?
Yes, PAN nowadays has become a basic proof to carry on various financial transactions. This also leads to many fraud activities via PAN. There are many cases wherein while booking a train or an air ticket, the PAN number or a photocopy of the PAN card is required to make a booking, in both the cases, it is quite risky to give in the complete PAN card number or attach a copy of the important documents as it can be easily be misused. Instead, the system using only the last four digits of the PAN card while making bookings, or for any other identity proof validation, is much safer and secure to use.
4. How long does it take for the PAN card to arrive?
Usually, after submitting the PAN card application, it takes 15-20 working days to issue a PAN card. Lately, the Income Tax Department has made a provision to receive the PAN Card within 2 days.
5. Is a PAN card linked with a bank account?
It has now become a mandatory process, as issued by the Income Tax Department in India, to attach a copy of the PAN card with the existing bank accounts of any individual. PAN Card is a vital Government document, and none of the financial transactions can be approved or processed without the validation of the original PAN card that the individual possesses. Another reason to link bank accounts with a Pan card is to process the income tax refunds into the account securely and to make the credits into a bank account, a hassle-free process.
6. What are the documents necessary to avail PAN card for a company registered in India?
To apply for a PAN card specifically for a company registered in India one needs to provide a photocopy of the Certificate of Registration issued by the Registrar of Companies.
7. What are the necessary documents while applying for a PAN card for a Trust formed/registered in India?
The necessary documents would include the photocopy of the Trust Deed or a photocopy of the Certificate of Registration Number that is issued by a Charity Commissioner.
8. What to do if a PAN card is lost?
if one loses his/her PAN card and wishes to apply for a duplicate card, then he/she can do so easily online as well as offline. to apply online visit TIN-NSDL or UTIITSL’s official websites and apply for a reprint or duplicate copy of the PAN card. After filling out the details and submitting the form 49A/49AA (as applicable), and after completion of the successful submission and payment, one can expect to receive the copy in the next 45 days (maximum).
9. What is the limitations faced by people without a PAN card?
There are several benefits of the PAN card as well as setbacks of not having one. here’s a list of cases/activities where a PAN card is mandatory: ● Filing Income Tax Returns. ● Financial transactions of and above Rs 50,000 ● Buying/Selling an asset or an immovable property. ● Application for credit/debit cards, loans.
10. How many photos are required while applying for a PAN card?
One needs to provide two photographs while filling out the application form.
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