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A Permanent Account Number (PAN) is a form of documentation that helps identify the country's taxpayers. The PAN number carries ten-digit alphanumeric characters. The identification system of PAN is a computerized one, and it assigns the unique ID to every taxpayer of India.
This system uses the PAN number of each Individual as a primary key for data storage and records all the tax-related details of people. Because this information is shared across the country, no two people can have the same PAN. When any person is allotted a PAN number, the income tax Department (ITD) also issues a PAN Card. PAN Card is a tangible card that contains your PAN number, as well as your name, date of birth (DoB), and a picture. Copies of this card can be used to prove your identification or date of birth. Because it is unaffected by changes in address, your PAN card is valid throughout your life.
The combination of alphanumeric characters of PAN is explained below:
The first 3 alphabetic characters are randomly chosen from the English alphabet.
The fourth alphabetic character denotes the taxpayer category of the entity. The following categories are available:
The fifth alphabetic character denotes the first alphabet of the individual's surname.
The following four characters are random numbers.
The last character again is an alphabet.## Uses of PAN for Finance
You must quote your PAN while paying the direct Taxes.
Taxpayers are required to input the PAN while paying Income tax.
PAN information is essential while registering any business.
Various other financial transactions also require PAN information, like:
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For PAN cards issued after January 1, 2017, the Income Tax Department has suggested a new format. The following are the changes made to the new PAN card:
The placement of the PAN and the cardholder's signature have been modified.
As PAN cards are issued to different taxpaying entities of the country, they are of various types, as follows:
On an individual’s PAN card, the photograph, name, father’s name, date of birth, an authenticity hologram, signature, QR Code, a PAN number and the date of PAN issue are included.
On the other hand, a company’s PAN card includes the name of the firm, its date of registration, the PAN number, hologram, QR code, and the date of PAN issuing. There will be no pictures or signatures on this one.
The following taxpaying entities must have a PAN under section 139A of the Income Tax Act:
Minors, adults, HUFs, partnerships, businesses, bodies of individuals, trusts, and other taxpaying entities should all register for a PAN.
An application form has to be completed to apply for a PAN card. Form 49A and Form 49AA are the two types of application forms. Both documents are available for download both online and accessing on any device offline.
The forms have to be filled out completely and forwarded to the TIN-NSDL's office.
Either one of the following websites can be used for applying for a PAN card online:
You can apply for a new PAN and make changes or corrections to your existing PAN. If you lose your PAN card, you can request a duplicate or have the card reprinted.
For a new PAN online application, follow the given steps:
Follow the steps as mentioned below to apply offline for a PAN card:
In an envelope, place the application form and photocopies of your documentation. On the envelope, write 'APPLICATION FOR PAN-N-Acknowledgement Number' and post it to:
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 – 411016
After that, you'll get an application number that you can use to track your PAN card application progress.
The following is a breakdown of the cost of applying for a PAN:
You have to submit several documents, including Form 49A or 49AA, to apply for a PAN Card. There are two sorts of documentation required for PAN, Proof of Address (POA) and Proof of Identity (POI). Any two of the documents listed below should fit the requirements.
|Who requires the PAN?||List of Documents|
|Individual Applicant||POI/ POA – Passport, Aadhaar, Driving Licence, and Voter ID|
|hindu undivided family||HUF’s affidavit issued by the HUF’s head along with POI/POA|
|Company registered in India||Registration Certificate issued by Registrar of Companies|
|Firms/ Partnership (LLP)||Registration Certificate issued by the Limited Liability Partnerships/ Registrar of Firms and Partnership Deed.|
|Trust||Trust Deed’s copy or a copy of the Registration Certificate Number issued by a Charity Commissioner.|
|Society||Registration Certificate Number from Charity Commissioner or Registrar of Co-operative Society|
|Foreigners||Passport PIO/ OCI card issued by the Indian Government, Bank statement of the residential country along with a Copy of NRE bank statement in India|
If you want to make modifications or corrections to your Pan card online, follow the steps outlined below:
Rs.93payment before submitting the form
If you have lost your original PAN card, you can follow the steps outlined below to obtain a duplicate one:
Income Tax PAN Services Unit, NSDL e-Governance Infrastructure Limited, Mantri Sterling, 5th Floor, Plot No. 341, Survey No. 997/8, Model Colony, Near Deep Bungalow Chowk, Pune – 411 016
After you've filed your application for the PAN card, you can check its status online. The status of your application will indicate whether the card has been granted or is in transit.
You can also directly visit the PAN card offices across India to get any of your queries addressed or to submit the application for PAN. Here is a list of all the PAN card offices across the country:
If you earn enough to be taxed, not having a PAN card will result in:
30% tax on your Earnings and wealth, as determined by the Income Tax Department of India. This regulation applies to people, businesses, and all other taxpaying organizations, including foreign nationals and companies based outside of India.
Not being able to buy a car, buy an immovable property worth more than
Rs. 10 lakhs, or create a bank account, to name a few things.
Businesses will be unable to conduct a significant portion of their finance and procurement activities.
To complete the process of aadhaar card and PAN card link, follow the given steps:
A. Any NSDL TIN Facilitation Centre (TIN-FC) or PAN centre can provide you with a PAN application form. Applicants can also get the form from some stationery stores. You can also get the form from the NSDL-TIN website.
A. No, you cannot apply for a PAN card using a handwritten application. Only the format specified by the Central Board of Direct Taxes will be accepted. The following are the relevant forms:
A. Regardless of their marital status, all female candidates should include their father's name on the PAN application form. The name of the husband doesn’t need to be updated on the form.
A. To be reached in the event of a discrepancy, all applicants must submit their email address or phone number on the PAN application form. It is helpful for individuals wishing to receive the PAN via email. If a landline number is provided, the country code and STD code should be included. If a cell phone number is provided, the country code should be included. If an email address is provided, the PAN will be emailed.
A. If you live in India, the PAN card processing charge is
Rs.110, which includes
Rs.93 (application fee) plus
18% GST. The PAN Card processing fee is
Rs.1,020 if your address is outside of India, including
Rs.93 (application cost) +
Rs.771 (shipping charges) +
A. The PAN card application form, once completed and self-attested, can be sent to any PAN centres or TIN-FCs maintained by NSDL e-Gov, together with all necessary papers. If you applied for a PAN Card online, you should print the application form, sign it, and attach a recent photograph. Then email this form, along with any supporting documentation, to the following address:
Income Tax PAN Services Unit (Managed by 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
A. Yes, if you are a single applicant, you must attach two latest colour images with a white background. The photographs should be 3.5 cm by 2.5 cm in size. Clipping or stapling the photos to the form is not recommended. The applicant must sign across the photo such that one part of the signature appears on the photo and the remainder appears on the form. The clarity and quality of the photograph you attach to the application form will determine the image clarity on the PAN Card.
A. If the photo on your PAN card is blurry, you can have it replaced with one that is of higher quality and clarity. This service is accessible as part of requests for "Correction of PAN Card." This is similar to requesting a name change or a date of the birth change. You can fill out the 'PAN card modification request form' on the website. The necessary documents have to be mailed to the address listed on the form.
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