Table of Contents
PAN Card – Issued by INCOME TAX DEPARTMENT
The PERMANENT ACCOUNT NUMBER (PAN) is issued by the Income Tax Department. The income tax department issued the PAN Card under the supervision of CBDT (Central Board of Direct Taxes).
PAN Card has a code of 10 alphanumeric number allotted to the Cardholder. This card helps in identifying the Income Tax Payer. PAN Card is government important document which is required for receiving the taxable salary, taxable Profession fees, opening of bank account, or used for sale or purchase. For the financial transaction, this PAN card is mandatory. It serves as the GOVERNMENT ISSUED IDENTIFICATION.
The PAN card is necessary for many places such as movable of property at Rs. 5 Lakh or more for sale and purchase, sale or purchase of a vehicle, for opening the bank account, for billing the payment of Rs. 25000 or more than in hotels, deposit cash in banks, payment in cash for the purchase of bank drafts or payment in cash for travel in any foreign country. To start the business this card is mandatory for paying the Taxes. PAN Card shows the nationality of the people as an identity proof. It is compulsory for the transaction of money for any purpose in India, to applying for Loans, for transferring the funds from the bank account of NRE or NRO.
Under the Income Tax Act of Section 139[A], this Income Tax Pan card is issued to the person. The Pan card number starts with the five Alphabetic letters than four numerical and alphabetic letter in the last. The first three letters are in sequences like BBB or KKK or any other letter from A to Z. The fifth letter of the PAN number is the first or last name of the person. On the PAN card, the date of issue is mentioned on the right side of the photo.
An Online service “KNOW YOUR PAN “is introduced by the central government to know about or verify the validity or expiry of the Pan card. This PAN card is also important for the foreign citizens if they want to invest or start the business in India. Foreign Citizens need some documents for the PAN card such as the photocopy of passport, a copy of PIO [Person of Indian Origin] card or OCI [Overseas Citizens of India] card which is issued by the Govt. of India, Copy of the bank account of the country they belong, or Copy of NRE [ NON-RESIDENT EXTERNAL] bank account statement in India, copy of residence in India issued by the State police authority.
The online application is available on the following website-
UTIITSL Website https://www.utiitsl.com/UTIITSL_SITE/pan/
There are the following steps for PAN CARD to apply online-1] Submit the application form 49[A] available on the website. 2] Fill all the basic details on the form. 3] The pay Rs. 107 online for Indian Address and payment of Rs. 994 for the foreign address. These are charges you have to pay with included service tax. You can do payment by credit/debit card or by net banking. After the successful procedure of payment, the acknowledgment number will show on your screen. Please save that number. You have to submit the documents after your application or payment is accepted by post or courier to NSDL. The ID proof, address proof, date of birth proof etc are the documents required for the PAN Card. After receiving the receipt or documents, the process of PAN CARD is proceeded by NSDL.
PAN card is lifetime valid for the Cardholder. If the PAN card is issued at once it is not affected by changing the address. For the Foreign Citizens, this card is issued till the date of validity of Visa but not for them it is not acceptable as the Citizenship of India.
PM Modi launched New Pattern of PAN Card with QR Code on the top of the card underwritten by the Income Tax Department. This New Cad is applicable from January 2017.
PAN Card (Permanent Account Number) – Details
PAN Card (Permanent Account Number) – Download
PAN Card (Permanent Account Number) – Application / Apply Online
PAN Card (Permanent Account Number) – Verification
PAN Card (Permanent Account Number) – Android App