PAN CARD
PAN, or Permanent Account Number, is required to open a bank account, file a tax return, invest in financial instruments, or engage in any other financial activity. The PAN Card contains the cardholder's PAN number and other identifying information. The PAN number search identifies the individual for taxation purposes and stores all of the individual's relevant financial data. As a result, knowing your PAN number is critical for a variety of aspects of your financial life. Therefore, let us ascertain the complete details of this all-too-critical card.
What is a PAN (Personal Identification Number) Card?
A PAN card is a government-issued identification card issued pursuant to the Income Tax Act, 1961. It contains a unique ten-digit alphanumeric code. This code is generated by a computer and is unique to the cardholder.
Who is eligible for a PAN Card?
Individuals are not the only recipients of the PAN Card. Companies and partnership firms can also obtain a PAN Card, and such entities are required to do so when filing their income tax returns. Individuals, minors, students, and Non-Resident Indians can also apply online for a PAN Card.
How to Apply for a Permanent Account Number (PAN) Card Online or Offline
A PAN Card may be obtained in one of two ways. One can apply for a pan card online using the widely used online pan card application process, or they can apply offline using the offline mode of PAN card application. The following sections will discuss how to apply for and obtain a PAN card.
Process of Applying for a PAN Card Online –
The following are the steps to take when applying for a PAN Card online and registering for a PAN card:
Step 1: Visit the relevant NSDL or UTIITSL website to submit an online application for a PAN Card.
Step 2: On the website's home page, click the 'New PAN' option.
Step 3: A new PAN Card Form 49A is available for individuals who are Indian citizens, NRE/NRI, or OCI.
Step 4: Complete this form with the individual's information.
Step 5: After submitting the form, the applicant must also pay the processing fee online or via Demand Draft to initiate the form's processing.
Step 6: After paying the fees and submitting the completed PAN Form 49A, the final page displays the 15-digit acknowledgement number.
Step 7: Within 15 days of online submission of Form 49A, the acknowledgement form and all required documents should be sent to the NSDL PAN office via courier.
Step 8: After the acknowledgement form is couriered to the NSDL office, the PAN number is verified and the Card is generated. Within 15 days, the customer's physical PAN card is delivered to the address specified in the form.
Process of Obtaining a PAN Card Without Using the Internet –
Offline applications for the PAN Card are also accepted at any district-level PAN agency.
- Download the PAN application form from the NSDL or UTIISL websites, or pick one up from a UTIISL agent.
- Complete the form and attach any necessary documents (proof of identity, address and photographs)
- Submit the completed form and supporting documents, along with the processing fee, to the NSDL office.
- Within 15 working days, the PAN card will be mailed to the address specified in the form.
PAN Card Application Forms
Individuals may apply for a PAN card by completing Form 49A or 49AA. For Indian individuals/entities, form 49A is completed; for foreigners, form 49AA is completed. Although minors and students can also apply for a PAN card by completing PAN card form 49A. Both formats are available both online and offline. Both forms contain the following information: Assessing Officer Code (AO Code), name, address, date of birth, mobile number and email address, and Aadhaar number. Finally, the applicant must sign the declaration and submit it to TIN-office NSDL's along with self-attested copies of document proofs.
Required Documents for a PAN Card
When applying for a PAN Card, certain supporting documents must be submitted with the application form (Form 49A or 49AA) or the acknowledgement form (if applying online) for the PAN card verification process. Documentation requirements vary significantly by applicant. The following are the essential documents that must be submitted with the PAN application form when individuals or other entities apply for a PAN card. The following is a list of the documents required to obtain a pan card:
For a single applicant:
- Identification Proof, which may be any of the following:
Any government-issued ID – Aadhar, Driver's License, Voter ID, etc.
License to Carry Arms
Pensioner Identification Card, which includes the applicant's photograph
A photo identification card issued by the Federal Government, a State Government, or a Public Sector Entity.
Photo ID for the Central Government's Health Scheme or the Ex-Contributory Servicemen's Health Scheme
A bank certificate that is issued on the bank's letterhead and attested by the issuing officer. This certificate must include an attested photograph of the applicant as well as the applicant's bank account number.
- A proof of address, which may be any of the following:
A bill for electricity, a landline, or a broadband connection
- Amount due on a postpaid mobile phone bill
- Bill for water
- A bill for LPG or piped gas service or a Gas Connection book
- Bank statement
- Statements from credit cards
- A statement of the deposit account
- Passbook for Post Office account
- Travel document
- Voter Identification Card
- Valid Driver's License
- Registration of real estate
- A certificate of domicile issued by the Indian government
- Unique Identification Number (Aadhar Card)
- A copy of the employer's original certificate, provided that the employer is a reputable public or private corporation.
Proof of date of birth, which may be a copy of any of the following:
- A birth certificate issued by the municipal government or another authorised body
- Certificate of matriculation
- Order for Pension Payment
- Travel document
- Certificate of Marriage issued by the Registrar of Marriages
- Valid driver's licence
- A certificate of domicile issued by the Indian government
- A sworn affidavit before a magistrate stating the applicant's birth date
For an Undivided Hindu Family (HUF)
- An affidavit signed by the Karta of the HUF stating each coparcener's name, address, and father's name as of the date of the application.
- As with an individual, proof of identity, address, and date of birth is required for the Karta of the HUF.
For an Indian-registered business
- A copy of the Registrar of Companies' Certificate of Registration.
For Indian-based businesses and Limited Liability Partnerships (LLPs).
- A copy of the Firms or Limited Liability Partnerships Registrar's Certificate of Registration.
- A duplicate of the Partnership Agreement.
For Indian-incorporated or -registered trusts
- A copy of the Trust Deed or a copy of the Charity Commissioner's Certificate of Registration Number.
For a Group of Individuals
- A copy of the agreement/certificate of registration number issued by the Registrar of Co-operative Societies, Charity Commissioner, or other competent authority, or any other document issued by the Central/State Government establishing the applicant's identity and address.
For non-Indian citizens
- A means of establishing one's identity, which may be any of the following:
Copies of passports
- A copy of the Indian government's PIO card
- A copy of the Indian Government's OCI Card
- A copy of the applicant's other national or citizenship identification number, or TIN, attested by the appropriate 'Apostille', Indian Embassy, High Commission, or Consulate.
Address verification may take the following forms:
- A duplicate of your passport
- A copy of the Indian government's PIO card
- A copy of the Indian Government's OCI Card
- A certified copy of another national's or citizenship's identification number, or TIN, attested by the appropriate 'Apostille', Indian Embassy, High Commission, or Consulate.
- A copy of the resident country's bank statement
- A copy of a non-resident alien's bank statement in India
- A copy of the resident certificate or permit
- A copy of the FRO's registration certificate
- A copy of the VISA granted and a letter of appointment from any Indian company
How to obtain a duplicate PAN card if you have misplaced your original?
If you have misplaced your PAN card, you can apply for a duplicate online or offline. TIN-NSDL and UTIITSL allow individuals to complete an online form and submit payment for a duplicate copy of their PAN card. This is how you do it:
- Visit the TIN-NSDL or UTIITSL website to request a duplicate PAN card.
- For Indian citizens, complete Form 49A; for foreigners, complete Form 49-AA.
- Pay online or obtain a demand draught.
- Now, print your form and send it to the following address: Income Tax PAN Services Unit, NSDL e-Governance Infrastructure Limited, 5th Floor, Mantri Sterling, Plot No. 341, Survey No. 997/8, Model Colony, Near Deep Bungalow Chowk, Pune – 411 016.
- Within the next 45 days, you will receive your PAN card.
PAN Card Types
Due to the fact that a PAN Card can be obtained by both individuals and entities, various types of PAN Cards must be applied for using the various variants of Form 49 issued by the government. The following table summarises the various types of PAN Cards and the various forms required to obtain one.
Individuals can apply for a PAN card.
This is the most frequently issued variant of the PAN Card. This card is obtained by completing Form 49A, which is available online at the NSDL and UTIITSL websites. Individuals include all resident Indians, including minors and students, who qualify for a PAN card.
Individuals who are not residents of India or who are of Indian ancestry can obtain a PAN card.
NRIs and PIOs are eligible to obtain a PAN Card for tax purposes in India. They, too, would be required to submit Form 49A in order to obtain this card.
PAN Cards are issued to foreign entities that owe taxes in India.
Firms or corporates registered outside India but paying tax in India as a result of their business operations in India may also apply for a PAN Card. They would be required to complete and submit Form 49AA as part of the application process for a PAN card.
OCI and NRE PAN Cards
Overseas Indian citizens and non-resident entities are also eligible to apply for a PAN Card. They should complete Form 49AA when applying for the PAN card.
For Indian Businesses, a PAN Card is required.
Firms and corporate entities registered in India and conducting business in the country can also apply for a PAN Card to facilitate financial and tax transactions.
PAN Card Structure – PAN Card Specifications
When used in accordance with Know Your Customer (KYC) guidelines, a PAN card contains some very basic information that qualifies it as an identity and age proof. The card contains the following information:
The cardholder's name– The primary and most visible detail on the PAN Card is the cardholder's name. It is the individual's name in the case of an individual, the company's registered name in the case of a company, and the partnership firm's name in the case of a partnership firm.
Name of the cardholder's father– This is required for individual cardholders. The cardholder's father's name is listed beneath his or her own.
Date of birth– In the case of an individual's PAN card, the cardholder's date of birth is listed beneath the father's name. This information serves as the cardholder's proof of birth. In the case of corporations and partnership firms, this field contains the date of incorporation.
PAN Number– The PAN number, or Permanent Account Number, is the card's next and most critical component. The PAN number is unique to each individual or entity that owns the card and contains some critical information. The number is generated using the information supplied by the entity. It is a ten-character alpha-numeric code in which each character represents data. The following information is provided:
The first three letters are entirely alphabetical in nature, containing the first three letters of the alphabet from A to Z.
Fourth letter – The fourth character of the PAN number denotes the tax payer classification of the entity. The following are the various entities and their associated characters:
A – Association of Individuals
B – Individuals as a group
C – Corporation
F – Businesses
G is for Government.
H stands for Hindu Undivided Family.
L – Local Government
J – Simulated Judicial Person
P – Unique
T – Trustee Association
Fifth letter– the fifth letter is the individual's surname's first letter.
The remaining letters and characters are chosen at random. The first four characters are digits, while the final character is an alphabet.
Individual signature– the final detail on the PAN card is the individual's signature. As such, a PAN Card serves as proof of an individual's signature, which is required for a variety of financial transactions.
Individual photograph – the cardholder's photograph is also included in the lower right hand corner of the card, making it eligible to be used as a photo identity proof. In the case of businesses and firms, the card does not include a photograph.
The Benefits of a PAN Card
The following are the primary functions of a PAN Card:
Individuals and entities (companies, partnership firms, HUFs, and so on) are required to quote their PAN numbers when filing tax returns. This is a necessary condition. Without a PAN card, individuals and entities would be required to pay a flat 30% tax on their earnings regardless of their income tax bracket. Thus, a PAN number is required for tax purposes, and one can check the status of their PAN card using their PAN number.
Business registration – Companies, partnership firms, Hindu Undivided Families, and other entities wishing to register their businesses are unable to do so unless they have a PAN number to include in the registration details.
To conduct financial transactions – A variety of financial transactions are possible only if the individual's or entity's PAN card number is available. Several common transactions facilitated by the PAN card include the sale or purchase of any immovable property valued at Rs.5 lakhs or more, the sale or purchase of any vehicle other than a two-wheeler, the deposit of any amount greater than Rs.50,000 in a bank, the purchase of bonds valued at Rs.50,000 or more, the remittance of funds outside India, travel expenses incurred while travelling abroad that exceed Rs.25,000, the purchase of mutual fund schemes, and the purchase of insurance policies.
To obtain utility connections – In many instances, a PAN card is required to obtain utilities such as a post-paid mobile phone connection, LPG connection, electricity connection, or internet connection. However, it is always recommended that you use an alternate form of identification such as a driver's licence, voter identification card, or similar document whenever possible.
To open a bank account – Because bank Know Your Customer (KYC) requirements have become increasingly stringent in recent years and the PAN card is a mandatory requirement, banks conduct their own number verification when opening a bank account.
PAN Card Tracking/PAN Card Inquiry/PAN Card Status Check Online
Know your PAN Card status – After an applicant has applied for a PAN Card, the applicant can track its status online. The status of the PAN Card application can be tracked, indicating whether the card has been issued or not, or whether it is currently in transit. On the respective websites, the applicant can check the status of his or her PAN card, UTI PAN card, or NSDL PAN card. The UTI PAN Card status is available on the UTIITSL website, while the NSDL PAN Card status is available on the NSDL website. Both websites display the status of the respective PAN application. Thus, the status of a PAN Card can be tracked online, and the online PAN Card status can be determined using the user's name and date of birth entered on the website.
Making modifications to a PAN Card
Existing PAN card holders can update their PAN card details while retaining their PAN number. This procedure can also be used to correct any errors in the PAN Card's details. This requires the completion and submission of a PAN Card update or correction form to the appropriate authority.
PAN Card Duplicate
In the event of a lost PAN Card, the applicant may also apply for a duplicate by completing the required form and paying the application processing fee.
What if you do not possess a PAN Card?
There are several reasons to obtain a PAN card:
Without providing your PAN, you will be unable to conduct financial transactions exceeding Rs 50,000.
A PAN is required when purchasing or selling an asset or property.
Without your PAN card, you will be unable to file income tax returns.
If you do not include your PAN in your credit card/loan application, it will be rejected.
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FAQs
Q. How do I apply for a Permanent Account Number (PAN) Card?
A. You can apply for a PAN card online or in person. You can apply for a PAN online by visiting either the TIN NSDL or UTIITSL websites. You can apply for a PAN online or in person at a PAN centre.
Q. Where can I obtain an application for a PAN?
A. The PAN application form is available at the PAN centre. Alternatively, you can download Form 49A or 49AA of the PAN application from the TIN NSDL website.
Q. Are there any fees associated with the PAN Card application form?
A. There is no fee associated with the PAN card application form. However, applicants residing in India must pay Rs 107 while those residing outside India must pay Rs 1017.
Q. Where should the application for a PAN Card be submitted?
A. The PAN card application form must be mailed to the following address:
Unit of Income Tax PAN Services,
Limited, NSDL e-Governance Infrastructure,
Mantri Sterling, 5th Floor, Plot No. 341,
Model Colony, Survey No. 997/8
Pune – 411 016 Near Deep Bungalow Chowk
Q. What are the fees associated with submitting Form 49A for a PAN Card?
A. All applicants residing in India are required to pay Rs 107, while those residing outside India are required to pay Rs 1017.
Q. Is it required to submit two photographs with the application?
A. Yes, two photographs are required with your PAN application form.
Q. How do I check the status of my application for a PAN Card?
A. To check the status of your Pan online, go to https://tin.tin.nsdl.com/pantan/StatusTrack.html. Alternatively, please visit http://www.trackpan.utiitsl.com/PANONLINE/#forward.
Q. How do individuals who are unable to sign apply?
A. The application process is identical for individuals who can sign and those who cannot. Instead of a signature, the applicant must submit his thumb impression.
Q. How do I update my PAN Card's photograph?
A. To update any information on your PAN card, you must complete the PAN card correction form.
Q. Are minors eligible to apply for a PAN card?
A. Yes, minors may also apply for a PAN card. They can access a variety of benefits by presenting their PAN at designated offices.
Q. How long does the process of obtaining a PAN card take?
A. The entire process takes approximately 45 days, from the date of your PAN application to the day your PAN card is delivered to your residential address. However, in some instances, the time period may be extended.
Q. Why is PAN required?
A. If you do not have your PAN, you will be unable to file your ITR. All bank accounts that are not linked to a PAN number will be deactivated shortly. Additionally, PAN is required for cash transactions exceeding Rs 50,000.
Q. How does the Income Tax Department ensure that the PAN is quoted on the above transactions?
A. The Information Technology Department has issued statutory directives to entities receiving financial documents to ensure that the PAN is included wherever it is required; otherwise, the document is deemed incomplete.
Q. Is the applicant's father's name required for female applicants (married/divorced/widow)?
A. Female applicants, whether unmarried, married, divorced, or widowed, must include their father's name on the PAN application form.
Q. Who has the authority to apply on behalf of a minor, mentally disabled person, or ward of the court?
A. Under Section 160 of the Income Tax Act, 1961, a representative assessee may act on behalf of a minor, mentally challenged individual, or ward of the court. In these instances, the following information should be included:
Details about minors, lunatics, idiots, mentally retarded, and court-appointed wards, among others.
The representative assessee's information must be included in item 14 of the PAN application form.
Q. Why should I obtain a PAN card if I am a foreign national?
A. Any individual conducting business in India, whether an Indian or a foreign national, is required to pay taxes, and in order to do so, the individual must possess a PAN card. Additionally, PAN cards are now required for the purchase of high-value assets in India.
Q. Is there a fee associated with submitting the "Request for New PAN Card or/and Changes or Corrections to PAN Data" form?
A. Whether applying for a new PAN card or making changes or corrections to an existing one, applicants residing in India must pay Rs 107, while those residing outside India must pay Rs 1017.
