Pan Card

Learn everything there is to know about PAN cards, including the application procedure, the documentation needed, the different PAN types, the benefits, and the answers to some frequently asked questions regarding PAN and PAN cards.

Permanent Account Numbers, or PANs, are required to open bank accounts, file tax returns, purchase financial products, and carry out any other financial-related tasks. The cardholder's identification and PAN are both listed on the PAN card. For taxes purposes, the person is identified by their Permanent Account Number, which also stores all of their pertinent financial information. Therefore, it is crucial to have your Permanent Account Number for many elements of your financial life. Let's thus determine all the specifics of this crucial card.

What is a PAN Card

According to the Income Tax Act of 1961, a PAN card is issued and has a special 10-digit alphanumeric code on it. This code is created by a machine, is exclusive to the card's owner, and is good forever.

Who May Request a PAN Card?

PAN cards are available to anyone who qualifies, not only individuals. Companies and partnership businesses can also apply for a PAN Card, and having one is required for filing income tax returns for these entities. Even individuals can apply for a PAN card online, including kids, students, and non-resident Indians.

How to Request a PAN Card

There are two methods for obtaining a PAN card: the online application procedure and the offline PAN card application process. We'll go over the procedures you can take to apply for and obtain a PAN card in the sections that follow.

Application for a PAN Card Online

Through the NSDL portal (now Protean) or the UTIITSL portal, one can submit an online PAN card application. The procedures to be followed when applying for a PAN card online and registering for a PAN card are listed below:

• Step 1: Visit the website of NSDL or UTIITSL for online application for PAN card
• Step 2: Select the option ‘New PAN’
• Step 3: Individuals should select the PAN card form 49A, regardless of whether they are Indian citizens, NRE/NRIs, or OCIs.
• Step 4: This form should be filled with the individual’s details
• Step 5: After completing the form, the applicant would also need to pay the processing fee online or with a demand draught to start the form's processing.
• Step 6: An acknowledgement slip is produced after paying the fees and submitting the PAN Form 49A, and it contains the 15-digit acknowledgement number.
• Step 7: Within 15 days of submitting Form 49A online, you can either courier the application with the appropriate papers to the NSDL PAN office or UTIITSL office, or you can e-Sign the application using Aadhaar OTP authentication.
• Step 8: The PAN number is verified when the acceptance form is couriered to the relevant office, and the card is generated following the NSDL/UTIITSL PAN verification. Within 15 days, the customer's physical PAN card is delivered to the address provided on the order form.

How to Apply for an Offline PAN Card

You can also apply for a PAN card offline at any district-level PAN agency:

• Obtain a copy of the PAN card application form 49A by visiting the websites of NSDL or UTIITSL, or by visiting UTIITSL agents or the NSDL office.
• Complete the form and include any necessary documentation (proof of identity, address and photographs)
• Send the form, documentation, and processing fee to the NSDL/UTIITSL office.
• Within 15 working days, the PAN card will be delivered to the address provided on the form.

PAN Card Forms

• By completing Form 49A or Form 49AA, anyone can apply for a PAN card.
• Form 49A is filled out for Indian persons and entities, and Form 49AA is filled out for foreign individuals applying for PAN cards.
• By completing PAN card form 49A, minors and students can also apply for PAN cards.
• Both offline and internet versions are offered.
• Assessing Officer Code (AO Code), name, address, date of birth, phone number, email address, Aadhaar number, etc. are the components of both forms.
• The declaration must be signed by the applicant, who must also deliver the self-attested copies of the document proofs to the TIN-NSDL/UTIITSL office.

Required Documents for a PAN Card

Some important papers must also be submitted with the PAN card application form (Form 49A or Form 49AA) or the acknowledgement form (if applying online) in order for the PAN card verification process to be completed. The types of applicants have different document requirements. When people or other entities apply for a PAN card, the following important papers must be included with the application form.

A. For a Single Applicant

(i) Identity Proof in the form of a copy of any of the following documents:

• Any government-issued ID, such as an Aadhar card, DL, voter ID, etc.
• Arm’s License
• Pensioner Card with the applicant's picture on it
• a photo identification card issued by a public sector organisation, a state government, or the federal government
• Ex-Contributory Servicemen's Health Scheme Photo Card or Central Government's Health Scheme Card
• An authentic bank certificate that is issued by the bank's branch on letterhead and witnessed by the issuing official. A bank account number and an attested photo of the applicant should be included on such a certificate.

(ii) A copy of any one of the following, which can serve as an address proof:

• Electricity, landline or broadband connection bill
• Postpaid mobile phone bill
• Water bill
• LPG or piped gas connection bill or Gas Connection book
• Bank account statement
• Credit card statement
• Deposit account statement
• Post Office account Passbook
• Passport
• Voter’s ID Card
• Driving License
• Property registration document
• Domicile certificate issued by the Indian Government
• Aadhar Card
• When the employer is a reputable public or private corporation, the employer must present an original certificate.

(iii) A copy of any of the following documents may serve as proof of birthdate:

• a birth certificate issued by the municipal government or another recognised body
• Matriculation certificate
• Pension Payment order
• Passport
• Marriage certificate issued by Registrar of Marriages
• Driving license
• proof of domicile from the Indian government
• an affidavit that was sworn in front of a magistrate and contains the applicant's birthdate

B. For an Undivided Hindu Family (HUF)

• an affidavit signed by the Karta of the HUF with each coparcener's name, residence, and father's name as of the application date
• For the Karta of the HUF, evidence of identity, proof of address, and proof of birthdate are required.

C. For an Indian-registered company

a duplicate of the Certificate of Registration signed by the Companies Registrar.

D. For businesses and limited liability companies established or incorporated in India

• a duplicate of the Certificate of Registration from the Limited Liability Partnerships or Firms Registrar.
• the Partnership Deed in copy.

E. For Trust established or incorporated in India

Copy of the trust deed or a copy of the charity commissioner's certificate of registration number.

F. For a Group of Individuals

Any document provided by the Central or State Government that demonstrates the applicant's identity and address, such as a copy of an agreement or a certificate of registration number from the Registrar of Co-operative Societies, the Charity Commissioner, or another appropriate authority

G. For those who do not have Indian citizenship

(i)Any of the following may serve as an identification proof:

• Passport copy
• Copy of PIO card issued by the Indian Government
• Copy of OCI Card issued by the Indian Government
• Copy of another country's identification number, or TIN, attested by the relevant "Apostille," Indian Embassy, High Commission, or Consulate, depending on where the applicant is located.

(ii)Any of the following can serve as address verification:

• Passport copy
• Copy of PIO card issued by the Indian Government
• Copy of OCI Card issued by the Indian Government
• Copy of another country's identification number or TIN that has been apostilled by the appropriate "Apostille," Indian Embassy, High Commission, or Consulate
• Copy of bank statement of the residential country
• Copy of NRE bank statement in India
• Copy of resident certificate or Residential permit
• Copy of registration certificate issued by FRO
• Copy of VISA granted and appointment letter from any Indian company

How to Request a Second PAN Card if You've Lost Your First PAN Card

You can apply for a duplicate PAN card both online and offline if you've lost your original. People can fill out the form and make the payment for a duplicate PAN card online at TIN-NSDL and UTIITSL. Here is how to go about it:

1. Visit the TIN-NSDL or UTIITSL website to request a duplicate PAN card.

2. Fill out Form 49-AA for foreigners and Form 49-A for Indian citizens.

3. Make the payment online or get a demand draft issued.

4. Now print out your application and mail 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 (in case you are applying through NSDL)

5. You will receive your PAN card in the next 45 days.

Types of PAN Cards

PAN Cards can be obtained by both individuals and entities, therefore different PAN Card kinds must be applied for using various versions of Form 49, which the government has produced. The many PAN Card varieties and the various forms required to obtain them are shown below.

PAN Card for Individuals

This is the version of the PAN Card that is issued to individuals most frequently. Form 49A, which is available online at the NSDL and UTIITSL websites, is used to apply for this card. Any resident Indian is considered an individual, including minors and students who are also qualified for a PAN card.

PAN Card for Persons of Indian Origin or Non-Residents

For the purpose of paying taxes in India, NRIs and PIOs can obtain a PAN Card. For them to receive this card, Form 49A would also need to be submitted.

Foreign Entities Using PAN Cards to Pay Tax in India

A PAN Card is also available to corporations or firms that are registered outside of India but pay taxes in India due to their business operations there. To apply for a PAN card, they would need to fill out and submit Form 49AA.

OCI and NRE PAN Cards

The PAN Card is also available for non-resident entities and Indian citizens living abroad. They must complete Form 49AA, which is the pertinent form, in order to apply for a PAN card.

Indian Company PAN Cards

For their financial and tax-related transactions, businesses and corporate organisations that are both registered and employed in India can also apply for a PAN Card.

PAN Card Details - PAN Card Structure

When following the Know Your Customer (KYC) rules, a PAN card can serve as an identification and age proof because it contains some very basic information. The information on the card is as follows:

• Name of the cardholder– The name of the cardholder is the primary and most prominent information on the PAN Card. In the case of an individual, it is the person's name, in the case of a company, it is the company's registered name, and in the case of a partnership firm, it is the firm's name that is listed on the PAN Card.
• Name of the father of the cardholder– In the case of individual cardholders, this is relevant. Under the person's name is a reference to the cardholder's father's name.
• Date of birth– In the case of a PAN card, the cardholder's date of birth is listed after the father's name. This information serves as documentation of the cardholder's date of birth. This section includes the date of registration for corporations and partnership businesses.
• Permanent Account Number– The PAN, or Permanent Account Number, is the PAN card's next and most crucial component. This number, which is particular to each individual or organisation holding the card and contains certain crucial data, is unique. Based on the information provided by the entity, the number is created. Each character in the PAN, a ten-letter alphanumeric number, represents a piece of information. These details are as follows:
• First three letter– These three letters are purely alphabetical in nature and contain three letters of the alphabet from A to Z.
• Fourth letter– The category of taxpayer that the entity falls under is indicated by the PAN's fourth character. The following are the numerous entities and the corresponding characters:
• A – Association of Persons
• B – Body of Individuals
• C – Company
• F – Firms
• G – Government
• H – Hindu Undivided Family
• L – Local Authority
• J – Artificial Judicial Person
• P – Individual
• T – Association of Persons for a Trust
• Fifth letter– the fifth letter is the first letter of the individual’s surname
• Remaining letters– Random characters make up the rest. The last letter is an alphabet whereas the first four are integers.
• Signature of the individual– The person's signature is the last piece of information on the PAN card. As a result, a PAN Card also serves as evidence of the person's signature, which is necessary for many financial operations.
• Photograph of the individual– The PAN Card is able to serve as a photo identity verification of the person because the cardholder's picture is also on the lower right side of the document. Companies and businesses don't have pictures on their business cards.

Advantages of PAN Card

The key uses of a PAN Card can be illustrated as follows:

• For filing tax returns Every time a person or entity (such as a company, partnership firm, HUF, etc.) files a tax return, they are required to include their PAN. This is a criteria that must be met. Regardless of the income-tax bracket they may be in, individuals and entities must pay a flat tax of 30% on their earnings if they do not have a PAN card. Therefore, a PAN is necessary for tax purposes, and one can verify the status of their PAN card using their Permanent Account Number.
• Registration of business If a company, partnership firm, Hindu Undivided Family, or other entity wants to register their business but does not have a PAN to provide in the registration documents, they cannot do so.
• For conducting financial transactions Only if the person's or entity's PAN card is on hand may a variety of financial transactions be completed. The sale or purchase of any real estate valued at Rs. 5 lakh or more, the sale or purchase of any vehicle other than a two-wheeler, the depositing of any amount greater than Rs. 50,000 in a bank, the purchase of bonds valued at Rs. 50,000 or above, the transfer of funds outside India, the payment of travel expenses for international travel if such expenses exceed Rs. 25,000, the purchase of mutual fund schemes, and the purchase of insurance policies are some common transactions made possible by the PAN card.
• For availing utility connections A PAN card is useful when getting services like a post-paid mobile phone connection, LPG connection, electricity connection, internet connection, etc. However, it is always advised to use an other form of identification, such as a driver's licence, voter identification card, etc.
• For opening a bank account Banks now verify each customer's personal identification number (PAN) when opening a bank account because Know Your Customer (KYC) regulations have grown increasingly strict.

Tracking, enquiring, and checking the status of PAN cards online

Know your PAN Status

After submitting an application, one can check their PAN Card status online. You can check the status of your PAN Card application to see if your card has been issued, is in transit, or has not yet been issued. On the relevant websites, the applicant can check the status of their PAN card as well as their UTI or NSDL PAN cards. Both the UTI PAN Card status and the NSDL PAN status are available online and display the current status of the corresponding PAN applications. As a result, it is possible to check the status of a PAN card online. To do so, simply enter your name and birthdate on one of the websites.

A PAN Card's modifications

Existing PAN card holders can modify their PAN card information while still keeping their Permanent Account Number. This process can also be used to make any corrections to the information on the PAN Card. A PAN Card update or correction form must be completed and submitted to the appropriate government in order to do this.

Duplicate PAN Card

The applicant can also request for a replacement PAN Card for a misplaced one by completing the necessary paperwork and paying the required processing fees.

What transpires if a PAN Card is absent?

There are several benefits to having a PAN card, including the following:

• Without providing your PAN, you won't be allowed to conduct any financial transactions worth more than Rs 50,000.
• When purchasing or selling an asset or piece of property, PAN is required.
• Without a PAN card, you won't be able to file an income tax return.
• For availing utility connections A PAN card is useful when getting services like a post-paid mobile phone connection, LPG connection, electricity connection, internet connection, etc. However, it is always advised to use an other form of identification, such as a driver's licence, voter identification card, etc.
• If you fail to include your PAN, your credit card or loan application will be denied.

Latest News on PAN Card

Extension of the Aadhaar-PAN Card Linking Deadline to March 31, 2023

• 11-05-2022 The PAN-Aadhaar linking deadline has been moved from March 31, 2022, to March 31, 2023, according to a latest update. However, keep in mind that if you link your PAN with your Aadhaar card by June 30, 2022, you will have to pay a cost of Rs. 500. The cost would be Rs. 1,000 if the Aadhar PAN linkage was done between July 1, 2022, and March 31, 2023.

For withdrawals or deposits over Rs. 20 lakh or to open a current account, Aadhaar and PAN are required to be provided.

• 11-05-2022 In order to create a current account or to withdraw or deposit more than Rs. 20 lakh in a financial year, the government has now made it necessary to provide your PAN or Aadhaar. The Central Board of Direct Taxes implemented this in order to track the flow of money through the system, improve the openness of financial transactions, and bring tax evaders into the tax net.