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The Complete Guide to Indian PAN Card


According to a Tax Justice Network study, India lost 57.4% of total income tax revenue due to MNC tax evasions. The 42.6% remaining was due to private tax fraud, which amounts to more than Rs.3 hundred thousand crore in income tax loss.

This alone is enough to encourage people to Google “how do I apply for a PAN Card”. The document’s utility in other areas has grown tremendously in the last few years.

What is a PAN card?

PAN is an acronym for Permanent Account Number. It is a 10-digit alphanumeric number that allows for unique identification. The Income Tax section provides this number to all potential taxpayers to curb tax evasion.

Because PAN, an electronic system that tracks every taxpayer’s financial transactions, makes this possible. Two people cannot have the same number. The PAN card, a laminated card that identifies each individual, is used to assign this unique number.

Benefits of a PAN card?

The PAN card is an important identity proof that can be used in many procedures, including the Aadhaar card. It is also a mandatory document for many of the following procedures, including those listed below.

  • The most crucial time a PAN card can be used is when an IT return is being filed.
  • If your PAN card is not quoted, furnishing it can save you 20% on TDS.
  • If TDS exceeds the actual tax, linking your bank account with PAN will allow you to claim a refund.
  • PAN cards are required proof of identity for opening a bank account.
  • Selling and buying immovable assets such as property and cars worth more than Rs.10 Lakh.
  • The PAN card is issued for financial transactions exceeding Rs.50000
  • If you plan to invest in mutual funds, bonds or stocks, you should learn how to apply for a PAN Card as soon as possible.
  • This document must deposit cash above Rs.50000 per day.
  • In a financial year, premiums for life insurance exceed Rs.50000.

This was a list that included situations and activities where a PAN card can be beneficial to taxpayers. It doesn’t end there.

The following are some of the ways that a rise in PAN card holders can benefit Income tax authorities:

  • PAN cards are used to keep track of an individual’s financial transactions as well as tax liabilities. This helps plug more loopholes in our system.
  • It allows authorities to determine the tax rate per person based on income more efficiently.
  • It allows for more precise calculations of total tax revenue in the country.

If you do not have a PAN card and are interested in any activity that requires it, you can fill out Form No. 60. Follow it up by submitting a PAN application as soon as you can.

What are the eligibility criteria for a PAN card?

Here is a list listing entities eligible for PAN card eligibility according to Section 139A under the Income Tax Act.

  • Any person whose total annual income exceeds the non-taxable income limit.
  • An owner of a business with more than Rs. 5 lakh in annual turnover.
  • Every Hindu Undivided Family, HUF (Hindu Undivided Family), in which the Karta, or head of the family, is the signatory.
  • Any charity trust, association, or organization.

A minor who is a potential taxpayer must also apply for a PAN card. This will give you an idea of how easy you can apply. This document is required for almost all Indian citizens as well as NRIs.

Despite the many types of PAN card holders available, authorities have created segregations to distinguish PAN card types.

Different types of PAN Cards?

PAN cards can be divided into categories depending on which taxpaying entity they are issued to. The 4th character in every PAN can be used to identify this category. This number varies for different entities. Let’s look at some possible alphabets and what they represent.

  • G: Government Agency
  • J: Artificial Juridical Person
  • P Individual
  • C: Company
  • A: Association of Persons
  • E: Limited Liability Partnership (LLP).
  • B: Body of Individuals
  • F: Partnership Firm
  • T: Trust
  • H: Hindu Undivided Family (HUF).
  • L: Local Authority

You can find different forms for each entity on the list if you’re looking for ways to apply for a PAN Card. Keep reading to learn more about the application process.

How do I apply for a PAN Card?

This guide will show you how to apply online for your PAN card.

Step 1: Go to the official portal for UTIITSL and NSDL.

Step 2 Click “Apply online“.

Step 3: Click on “Application Type” to choose Form 49A or 49AA from the dropdown menu. The former option is only for Indian applicants, while the latter is for foreign applicants.

Step 4: Next, select the category that matches your identity among the types previously discussed.

Step 5: Fill in the remaining fields and enter the security code. Click on “Submit“.

Step 6 Next screen, click “Continue with PAN Application Form

Step 7: Next, you will be redirected toward the type of application form that you have selected. Please fill this form with the exact details.

Step 8: Upload all documents required and click “Submit“.

Step 9: Make the payment for PAN card fees. Download the receipt and click “Continue“.

Step 10: Next, authenticate your Aadhaar Number. After that, you will receive an OTP to your registered mobile number.

Step 11: Enter your OTP to complete the application.

Once you have completed the above process, you will receive an acknowledgment slip in PDF format. It doesn’t matter if the acknowledgment slip requires a password to be opened.

This is the alternative if you are wondering how to apply online for a PAN card.

  • Step 1: You can visit any district-level PAN office to obtain your PAN card application form.
  • Step 2 Complete all fields. If you are applying for an individual entity, attach 2 passport-sized photographs to the acknowledgment.
  • Step 3: Attach all mandatory documents and insert all the paperwork in an envelope with “APPLICATION FOR PAN-N-Acknowledgement Number” written on top.
  • Step 4 – Send the sealed envelope to NSDL’s Income Tax PAN Services Unit.
  • Step 5: Make the payment via demand draft to “NSDL-PAN”.

You now know the procedure for applying for a PAN card. It would be best if you kept all required documents close to ensure a smooth process.

How do I check the status of my PAN Card application?

There are many ways to check the status of your PAN card application. The most obvious way to check your status is with your 15-digit acknowledgment number. This must be received after you have submitted your application.

Here are some steps to follow.

  • Step 1 Go to the official portal of NSDL.
  • Step 2 Select the “Track Pan Status” option.
  • Step 3 Click on “PAN/Change Request” in the “Application Type” section.
  • Step 4: Now, enter your 15-digit acknowledgment number.
  • Step 5 Enter the security code and click “Submit“.

Next, you will see your current status with PAN.

What information can be found on a PAN Card?

This is a list listing all information that can be found on an individual’s identity document.

  • Name of the cardholder
  • Name of Father
  • Date of birth
  • 10-character PAN number
  • Signature and photo of the cardholder

A PAN card for business will not allow you to take photographs or include your father’s name. The cardholder’s name and date of birth are replaced by the company registration date.

Many cardholders discover discrepancies in their PAN cards. However, the good news is that authorities have provisions to correct these details, such as a PAN Card address change or a PAN Card name change.

How to correct information on a PAN Card

Refer to the section on how to apply online for a PAN Card to correct any errors in your PAN card. Follow these steps until Step 3.

  • Click “Changes and Corrections in an Existing PAN Card” under “Application Type”.
  • Fill in the correction form for your PAN card on the next page.
  • All required documents should be uploaded, and then click “Submit”.
  • Complete the required payment.

You will now receive a new acknowledgment slip. You can take a copy of this slip and send it to the Income Tax PAN Service Unit at NSDL.

A Pan card that contains incorrect information is one thing. But completely misplacing it another. Guess what? And guess what? You have the solution.

How do I apply for a duplicate copy of my PAN card if it is lost?  

Stop worrying about your lost or stolen Pan card. Instead, you can apply online for a duplicate by following Step 2.

  • Choose “Reprint of Pan card (No changes to existing PAN data”)” from the dropdown menu.
  • Complete all fields and provide correct details. Upload all documents and click submit.
  • Use the provided payment gateways to pay the fees.

You will receive a duplicate PAN card in the same way as you did with your original application.

Once you have a PAN card (original or duplicate), don’t forget to link it to your bank account.

You can also request a duplicate of your PAN card by going offline. To do this, you can collect a form at the PAN centers or TIN-Facilitation Centers. Complete the form, pay a small fee, and submit your application.

How to link your PAN card number with your bank account   

The bank account details give you all the information about your financial transactions. This is also where the IT department calculates taxes.

A way to link your PAN card with your bank account is to link it to income tax. You can do this in the following manner.

  • Step 1: Log in to your online bank account with your username and password.
  • Step 2 You will see options similar to Service requests, PAN registration, and Service. Choose the best option.
  • Step 3 Next, choose from the options to update your PAN or link it.
  • Step 4: Now, enter your PAN Number and any other details, if applicable.

After completing the above process, you can expect to have your PAN and bank accounts successfully linked within 2-7 business days.

The government requires taxpayers to link their PAN card to a bank account. This follows Section 139AA, which was introduced in the Union Budget 2017.

If you haven’t done it, do it before the deadline runs out!

You can reach the PAN card customer service number on the NSDL portal for any additional queries.

Pan Aadhar link status check online

a) Open the Income Tax e-filing portal – https://incometaxindiaefiling.gov.in/

b) Register for it (if you have not done so already). Your user ID will be your PAN (Permanent account number).

c) log in by entering your User ID, password, and date of birth.

d) A pop-up window will open asking you to link your PAN and Aadhaar. Go to the Menu bar’s Profile Settings and click “Link Aadhaar”.

e) Personal details such as date of birth, gender and name will be included in the PAN details.

f) Compare the PAN details displayed on the screen to those on your Aadhaar. Pls. Please note that you must correct any mismatches in the documents.

g) Enter your Aadhaar number, and click the “link now”.

h) A pop-up message will inform you that your Aadhaar and PAN have been successfully linked

i) You may also visit https://www.utiitsl.com/ OR https://www.egov-nsdl.co.in/ to link your PAN and Aadhaar.

FAQs

Q. What is a PAN Card?

Ans. PAN card, a 10-digit identification card. This card is issued to every Indian taxpayer.

Q. What’s the purpose of a PAN Card?

Ans. PAN cards are identification proof for the Income Tax Department. To perform certain financial transactions, you will need your PAN number.

Q. How do I check my PAN Card?

Ans. Check your PAN card online at NSDL and UTIITSL official portals.

Q. Is it possible to download a PAN card online?

Ans. It is possible to download your pan card or PAN card online.

Q. Is it possible to apply for an open position?

This facility is only available to applicants who have not previously applied for a PAN card. Your Aadhaar must have been activated and linked to your registered mobile number to apply for an electronic PAN.

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