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What is PAN Card?

What is PAN Card?

PAN is short for Permanent Account Number. PAN is an identification number that is assigned to all taxpayers in India by the Income Tax Department. The PAN card helps the IT Department in keeping track of the financial transactions of an individual and firm.

To become eligible for applying for the PAN card, you need to submit two documents such as proof of address such as Voter ID Card and proof of identity like Aadhaar Card.

The cost of applying for the PAN Card is Rs.110 if being dispatched in India and Rs.1,020 for outside the country.

Enrolling for the PAN card is simple by following the simple steps such as:

  • Visit the official PAN – NSDL/UTIITSL website
  • Fill in the form with the details as required
  • Submit the required documents
  • Pay the processing fee
  • Your PAN card will be dispatched to your address within 15 days

You can also update your PAN Card by following these easy steps:
✓ Land on the NSLD website and choose the ‘update PAN section
✓ Select the option – ‘correction’ in existing PAN data

You will also need to submit a copy of POI/POA as supporting documents for the changes needed. Your PAN card is valid for a lifetime, and there is no need to apply for another when you have already.