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You need a PAN to file your taxes
Link PAN with Aadhaar to make banking easier
You can create a PAN card for yourself and your business
Official websites help you track PAN card, modify details
As a citizen of India who is contributing to the country’s economy, having a PAN card is essential. The PAN card was officially introduced by the government under Section 139A of the Income Tax Act of 1961. This was to counter and improve upon numerous disadvantages of the GIR (General Index Registrar Number) system that was in place before PAN. The main problem with the GIR was that it didn’t provide unique numbers to tax payers that often led to confusion and tax evasion.
Here’s a look at everything that you need to know about a PAN card.
PAN stands for Permanent Account Number and a PAN card is a physical representation of this. It is a document that you must have in order to file your taxes and also serves as a proof of identity. Essentially, PAN is a system through which the tax-related information of a person or a company is recorded. It is unique to you and no two people share a PAN.
Your PAN card consists your name, your father’s name, date of birth, PAN, signature and photograph.
A PAN card is a document that you need for various processes. Not only is it compulsory to have when filing your income tax returns, but it also works as a nationally-accepted proof of identity and is mandatory for performing certain business and personal transactions.
Here is the list of some of transactions for which you must have a PAN card.
- Filing your IT returns
- Opening a new bank account
- Purchasing jewellery
- Borrowing a loan
- Applying for a new telephone connection
- Applying for a new gas connection
- Purchasing property
- Getting a new debit/credit card
- Buying or selling a vehicle above a certain amount
- Registering your business
- Making investments in securities above a certain amount
- Starting a fixed deposit or cash deposit of a certain amount
- Making insurance payments above a certain amount
No matter where you use your PAN card, remember that it will always be an identity proof and not an address proof. This is because the PAN card provides only personal details like your PAN, name, date of birth and signature. A PAN card does not have details about your residential address, and so it can’t qualify as address proof. Documents like your Aadhaar card, passport, driver’s licence, phone bill and electricity bill are accepted as address proofs.
Linking your PAN card to your bank account is a necessity as it allows you to transact conveniently.
Linking PAN using your phone
- Call your bank’s customer care number.
- Go through the IVR selection, connect with a customer care executive and tell him/her that you want to link your PAN to your account.
- Provide your personal details to verify your identity.
- Next, provide them with your PAN.
- Thereafter, your PAN will be linked in around 2 working days.
Linking PAN using internet banking
- Log into your netbanking account and select a tab that says ‘Service Requests’.
- Here, click the option that says ‘PAN Card Updation’.
- Enter all your PAN details.
- Once you have submitted these details, your PAN will be linked in around 2 working days.
Linking PAN offline
- Visit the home branch where you have a bank account.
- Ask a bank representative to give you the PAN Updation Form.
- Fill up all the details carefully.
- Submit a self-attested copy of your PAN card and a letter to the branch manager.
Your PAN card is a mandatory document that helps you perform financial transactions using your bank account. So, no matter how many bank accounts you have, you must link your PAN card with each one.
With Aadhaar, the government wants to have a single document that comprises all the information about a citizen. So, while an Aadhaar card consists of your name, address and also has your biometric details, it doesn’t have your PAN. As a result, you must link the two. This combines your biometric, geographical as well as financial information, making it easier for the government to create a database.
Here are the two main reasons why linking your PAN card to your Aadhaar card is necessary.
- It helps the government identify and prevent tax evasion by keeping a better record of transactions.
- It prevents people from making multiple PAN cards for fraudulent purposes.
The e-filing portal has made it relatively simple for you to get your Aadhaar card linked to your PAN card. All you have to do is register on the e-filing portal, after which you can follow a simple step-by-step process to link your PAN to your Aadhar card.
Here is the procedure you have to follow.
- Log on to the income tax e-filing portal using your PAN number, which will be your user ID.
- Under ‘Profile Settings’ select ‘Link Aadhaar’.
- Fill in the requisite details as mentioned on your PAN card and check them.
- Click on ‘Link Now’.
- Once this is done you will immediately receive a message stating that the link has been successful.
Having a PAN card is mandatory for a host of entities. Take a look at who can apply for one.
- Individuals with valid address and identity proof, and date of birth proof.
- Hindu Undivided Families
- Minors, especially if you are making investments in your child’s name or nominating them for a property.
- Partnership firms
- Limited liability partnerships
- Local authorities
- Association of persons
- Artificial judicial person
Here is a step-by-step guide on how to apply for a PAN card online.
- Go on to the official PAN website and click on ‘Apply Online’. Or, access the form here.
- Fill up all the fields with accurate details.
- Once you submit the form, you will be redirected to pay the fee.
- Once this is done, a page will appear with an acknowledgement number, which you must save.
- Next, send all supporting documents to the NSDL by courier or post. For the entire list of documents, click here.
- Once your details are verified, your PAN card will be dispatched to you.
Alternatively, you can also apply for a PAN card offline by following these steps.
- Visit the official website, download and print the application form. Then, fill the fields correctly.
- Submit this form in person at an authorised PAN centre along with the requisite documents and the processing fee.
- Then, your PAN will be mailed to the address that you have given once your application and documents are verified and processed.
A PAN card is mandatory if you are doing business in India, even if your company isn’t Indian. So, take a look at how to apply for a PAN card for your business entity and the documents that you will need.
Here is the list of documents that you would have to submit to get a PAN card for your business.
- An apostilled copy of the Certificate of Incorporation or Business Registration Certificate or Articles of Incorporation as identity proof.
- An apostilled copy of the company bank statement, bearing the company name and full current address. Fill this with care, as your PAN card will be delivered here.
- A bank draft of the amount that you have to pay as a processing fee, usually Rs.1,000, in favour of NSDL-PAN or UTIITSL.
Once you have all these documents ready, take a look at how to apply for a PAN card.
- Download Form 49A and fill in the details including that of the bank draft.
- Then, print the form, sign it and attach the supporting documents.
- Hand over the documents to a PAN agent or mail them to NSDL.
- Note the acknowledgement number to track your application’s status.
- In around 5 weeks, the PAN card will be dispatched to your office address.
To help you apply for a PAN card easily, the Tax Information Network allows you to locate your centre on its website. Click here, enter your state or union territory and location to find the centre closest to you.
In case your PAN card is lost, stolen or damaged, you will have to apply for another one. In the interim, you can use your e-PAN. Follow these steps to download it.
- Log on to www.onlineservices.nsdl.com and fill in the requisite details such as your name, phone number and email ID.
- Once you have submitted this form, the e-PAN card will be sent to your inbox.
- You can then download the PAN card from your email and use it until you receive your replacement PAN card.
These are the documents that you must submit when applying for a PAN card.
- Proof of identity such as Aadhaar card, passport, ration card, etc.
- Proof of address such as Aadhaar card, passport, elector’s photo ID, etc.
- Proof of birth such as Aadhaar card, passport, birth certificate, etc.
To see the full list of documents that you can submit for each category, click here.
Checking your application’s status is a good way of seeing how far your application has reached. To do this, you must have the PAN acknowledgement number.
This is a unique number provided to you after applying for a PAN card on the NSDL portal. You can use the 15-digit code to track your PAN application easily. This number is printed on the slip that you receive after successfully submitting your application for a PAN card online.
Once you have completed applying on the NDSL website, an acknowledgement slip will be displayed on the screen. Print this page to access your acknowledgement number as per your convenience.
Here is the step-by-step procedure by which you can track the status of your PAN card 24 hours after you submit your application.
- Click on this link to begin the PAN tracking process.
- Enter the application type and then enter the acknowledgement number.
- Enter the verification code and click 'Submit'.
You can do so by visiting this website and entering the application number that is mentioned on the form. Fill in the security code and then click on ‘Submit’. Alternatively, click here and fill in your full name and date of birth along with the application type. Click on ‘Submit’ to complete the process.
Applying for a PAN card consists of various stages and you must be meticulous at every step. This is because making a mistake will delay the process significantly.
To ensure that you stay on track, here is a list of mistakes that you must avoid when applying for a PAN card.
- Providing incorrect signature: When applying, you must sign across your photograph, as well as in the box provided. If this is not done correctly or there is a mismatch, you will have to rectify it later.
- Scanned photographs: It may seem convenient to attach a scanned photograph. However, remember that when applying for a PAN card only a passport photograph will do.
- Using blue ink when signing: The instructions clearly state that you need to use a black pen to sign the form. Keep this in mind when you apply. If you sign with any other colour ink you will have to re-do the process and there will be a delay in receiving your PAN.
- Signing with initials: Since this is issued by the government and will act as identity proof, you must not sign with initials. Use your full signature everywhere.
If your PAN card has incorrect details, such as a spelling error or the wrong birth date, rectify them immediately. Here’s a look at how to do this.
- Visit the NSDL website or simply click here.
- Then in the ‘Application Type’ menu, click on ‘Changes or correction in existing PAN Data/Reprint of PAN card (No changes in existing PAN data)’.
- Fill in the details and the verification code and click on ‘Submit’.
- Then, select how you will submit documents. You can mail them to NSDL, e-sign them or submit them via eKYC. This is the easiest option if you have an Aadhaar card.
- Enter all the details as per the fields. If you choose Aadhaar as your option, make sure that the details that you enter are identical.
- Pay the associated fee for revising your PAN card.
- Save the transaction reference number and the bank reference number.
- Then, authenticate your Aadhaar number by checking the box next to it and clicking on ‘Authenticate’.
- If your details match you will be able to click on ‘Continue with e-sign/e-KYC’.
- Click on the button that says ‘Generate OTP’.
- Enter the OTP and submit it.
- You will see a page that confirms that your form has been submitted. Download this PDF or save the email confirmation that you get.
- Once your request is processed, your PAN card will be mailed to you.
Having multiple PAN cards is illegal and can lead to hefty fines. If you or your business have more than one PAN card, either intentionally or inadvertently, it is important that you cancel the extra one immediately. Here’s how you can do this.
- Log on to the NSDL website.
- From the ‘Application Type’ menu, select the last option, which relates to PAN correction.
- Once this is done, move on to filling the online form with relevant details like your name, phone number, date of birth, etc.
- After submitting this form, you will be directed to a new page which has a token number listed at the top. This token number will also be emailed to you.
- Then, select the option that says ‘Submit scanned images through e-sign’ under the section that asks you how you want to submit PAN documents.
- At the bottom of the page, in the field for PAN number, type the PAN that you want to retain. Then, fill the rest of the fields that are compulsory and marked with an asterisk.
- On the next page, enter details about the PANs that you want to surrender.
- Next, select the documents that you will submit and upload them along with your signature and photograph.
- Then, submit the form and check the application to verify that you have entered the correct information.
- Make the necessary payment.
- Once you have made the payment, you will receive an acknowledgement. Print this, affix two photographs, provide cross-signatures and mail it to NDSL.
- Attach a copy of your documents, as well as proof of the PAN that you want to retain along with your acknowledgement slip and place it in an envelope titled ‘Application for PAN cancellation’. Be sure to write your acknowledgement number on the envelope as well.
Alternatively, you can also cancel your PAN card offline by following the steps listed below.
- Fill up a PAN correctional form and submit it at a NDSL collection centre.
- Also submit a letter to the jurisdictional Assessing Officer stating your reasons for cancellation.
Is your PAN card lost? If it is, remember that you don’t need to apply for another one. Instead, simply request a reprint of your PAN. But first, report the loss to the police. This is essential because your PAN card has confidential information on it that is relevant to tax filing. Once you do this, here's a look at how to request a reprint.
- Visit the TIN website and access the same form that you would to change details on your PAN card or cancel it. You can click here to view the form.
- Under ‘Application Type’, choose the last option: Changes or correction in existing PAN data/Reprint of PAN card (No changes in existing PAN data).
- Fill the fields with accurate information, taking care to enter details in all fields that are marked with an asterisk.
- For your mode of submission of documents, it is advisable to go with the Aadhaar-based e-KYC option. This is the easiest as you don’t have to fill fields pertaining to your address subsequently. Also, note that your PAN card will be mailed to the address on your Aadhaar card, and you will need access to the phone number registered with your Aadhaar card to view the OTP.
Use the procedure for cancelling a PAN card to surrender multiple PAN cards that you may have in your possession.
As reported by Livemint, in the recent past, the Government of India has deactivated around 1.1 million PANs, most of which were cancelled as people had more than one PAN card. It is important to remember that as per Section 272B of the IT Act of 1961, having more than one PAN is illegal. You will have to pay a fine of Rs.10,000 and if it is found that you have multiple PANs for evasion of tax, you will be tried as per income-tax laws.
CIBIL allows you to check your credit score for free, once every year. You can visit this page and create an account for yourself. Then, follow these steps to see your CIBIL score.
- Enter personal details such as your full name, date of birth and gender.
- Under the ‘Identity Proof’ section, select ‘Income Tax ID Number (PAN)’.
- Fill in your income details.
- Enter your contact information and submit the form.
You will get your CIBIL report in your email inbox within 24 hours.
To view details linked with your PAN card, such as your address, you must first register your PAN card on the Income Tax department’s e-filing website. Here’s a quick guide on how to do this.
- Click here to get started. Select the type of user before clicking ‘Continue’.
- Once you fill and submit the registration form, you will get an email with a link to activate your account. Click on it to do so.
Now to check your address, click here and sign in. Go to ‘Profile Settings’ and click on ‘PAN Details’. Here, you will be able to see your address as well as other details that are linked to your PAN.
Remember, when it comes to your PAN card, being accurate while filing and submitting forms is crucial. Keep this guide handy to ensure that you make no mistakes.
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