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PAN CARD

₹ 499 (+ GST) 

WHAT IS PAN CARD?

A Permanent Account Number or PAN card is an important document in India. You’ll need it to file income tax returns, to make payments above Rs. 50,000, and even to open a bank account. A PAN card is a valid proof of identity in India and it can be issued to citizens of India (including minors), non-resident Indians (NRIs), and even foreign citizens.

The procedure for application varies for these categories of people.

The below mentioned steps are for individuals (Indian Citizens) only, and not for other categories under which a PAN card can be issued, such as an association of persons, body of individuals, company, trust, limited liability partnership, firm, government, Hindu undivided family, artificial juridical person, or local authority.

Documents required:

Indian citizens need three types of documents to apply for a PAN card. These are an identity proof, an age proof, and a proof of date of birth.

IDENTITY PROOF DOCUMENTS (Any ONE of

the following)

ADDRESS PROOF DOCUMENTS

(Any ONE of

the following)

PROOF OF DATE OF BIRTH

(Any ONE of

the following)

  • Elector's photo identity card

  • Ration card having photograph of the applicant

  • Passport

  • Driving licence

  • Arm's license

  • Aadhaar card issued by the Unique Identification Authority of India

  • Photo identity card issued by the Central Government or State Government or a Public Sector Undertaking

  • Pensioner Card having photograph of the applicant

  • Central Government Health Scheme Card or Ex-servicemen Contributory Heath Scheme photo card

  • Certificate of identity in original signed by a Member of Parliament or Member of
    Legislative Assembly or Municipal Councillor or a Gazetted Officer, as the case
    may be

  • Bank certificate in original on letter head from the branch (along with name and stamp of the issuing officer) containing duly attested photograph and bank account number of the applicant

Copy of the following documents of not more than three months old.

  • Electricity bill

  • Landline telephone or broadband connection bill

  • Water bill

  • Consumer gas connection card or book or piped gas bill

  • Bank account statement

  • Depository account statement

  • Credit card statement

  • Copy of post office pass book having address of the applicant

  • Passport

  • Passport of the spouse

  • Voter ID card

  • Latest property tax assessment order

  • Driving licence

  • Domicile certificate issued by the Government

  • Aadhaar card issued by the UIDAI

  • Allotment letter of accommodation issued by the Central Government or State
    Government of not more than three years old

  • Property registration document

  • Certificate of address signed by a Member of Parliament or Member of Legislative Assembly or Municipal Councillor or a Gazetted Officer

  • Employer’s certificate in original

  • Birth certificate

  • Pension payment order

  • Marriage certificate issued by Registrar of Marriages

  • Matriculation certificate

  • Passport

  • Driving licence

  • Domicile certificate issued by the Government

  • Affidavit sworn before a magistrate stating the date of birth

 

If you are looking to get a PAN card for any category other than individual click here

BENEFITS OF HAVING A PAN CARD

IT Returns Filing

All individuals and entities who are eligible for Income tax and are expected to file their IT returns. A PAN card is necessary for every individual who is eligible for IT return filing.

Tax Deductions

One of the essential reasons to get a PAN card is for the purpose of taxation.If the entity or person has not linked the PAN number with his bank account, and the annual interest earnings on savings deposits is more than Rs. 10,000/- then

the bank would deduct 30% TDS instead of 10%.

Starting a Business

In order to start a business, a company or any other entity mandatorily needs to have a PAN registered in the name of its entity.

 

Tax Registration Number (TRN) is needed for a business which is obtained only if the entity has

a PAN.

Opening Demat Account
Identity Proof

Just like voter card, Aadhaar card, PAN card is

also accepted by all financial institutions and

other organisations as an identity proof.

Claiming Income Tax Refund

Many times, the TDS deducted from a taxpayer’s income is more than the actual tax that he is supposed to pay. In order to claim excess tax

paid, taxpayer has to have a PAN linked to his

bank account.

Opening a Bank Account

All public, private and co-operative banks have made it mandatory for an individual or a company to have a bank account in its name in order to open a savings or current account.

Only under Pradhan Mantri Jan Dhan Yojana, a person can open a zero balance account by using voter card or other identity proof.

PAN card is also mandatory for an individual

or entity to open a Demat Account, which is needed to hold shares in dematerialized form.

FAQ's

Q

Can a person hold more than one PAN?

A

A person cannot hold more than one PAN. If a PAN is allotted to a person, then he cannot
apply for obtaining another PAN. A penalty of Rs. 10,000/- is liable to be imposed under​​
Section 272B​ of the Income-tax Act, 1961 for having more than one PAN.
If a person has been allotted more than one PAN then he should immediately surrender
the additional PAN card(s).

Q

What is utility of PAN?

A

PAN enables the department to link all transactions of the assessee with the department.
These transactions include tax payments, TDS/TCS credits, returns of income, specified
transactions, correspondence and so on. It facilitates easy retrieval of information of
assessee and matching of various investments, borrowings and other business activities
of assessee.

Q

Who can apply for PAN Card?

A

Any Indian citizen, including a minor, can apply for allotment of Permanent Account Number
by furnishing valid proof and documents. Foreign individual or entity can also apply for PAN
allotment.
Even business established in India must apply for PAN card online or offline within the 30
days of establishment. However, sole proprietorship firm does not need so as it does not
have a separate identity from its owner.

Q

How much time does the PAN allotment take?

A

How much time does the PAN allotment take?
Once the application for PAN Card is forwarded, generally it takes 5 – 7 working days for
allotment of PAN. However, receipt of physical PAN card may take time.
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