What is PAN Card | Best Guide How do we Apply online??

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What is PAN Card | How do we Apply online on its Benefits?

Is it necessary to have a PAN card for everyone?

What is PAN Card | How do we Apply online on its Benefits?

PAN (Permanent Account Number) is an Indian Code Number which is an identification of people who give TAX in India. People who pay tax to the government through this number, which shows how much and when a person has paid tax to the government.

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It is an alpha-numeric number of 10 characters such as ABCDE00000. This PAN is written in the card of the person, it is called PAN Card. PAN Card to Income Tax Department

When and what is required for PAN Card?

When is the PAN card required, when –

  • PAN is essential when you sell any real estate or item.
  • When you buy a car you need a PAN.
  • When you go for a large Transaction or Draft in Banks you need a PAN there.
  • When you open your Demat Account i.e. an account to invest in the stock market, you need a PAN.
  • If any person wants to deposit Rs 50000 or more in the bank, then it is mandatory to give his PAN.
  • If you want to apply for a credit card, then you also need a PAN there.
  • You can also present the PAN card as your ID Proof.

What are the advantages/benefits of a PAN card?

  • The PAN card contains your photo, signature, date of birth and name, so it is used as ID proof in its entirety.
  • Without PAN, the government will charge you the highest percentage of TAX, but having a PAN number, you have to pay TDS (tax deducted at source), which later gets returned on filing the TAX Return.
  • If your PAN turns around, you can still get a copy of it.

How to apply for a PAN card?

The Income Tax Department provides the PAN Number or PAN Card. Nowadays you can apply PAN online and fill the form by hand and can also apply through the letter. But now from 2017, you can get your PAN in a few minutes with the help of your e-KYC i.e. your Aadhaar Card. Also online can correct mistakes made in their PAN card.

If you want to apply online, then you have to upload a scanned copy of the documents for Proof. If you want to apply offline, then you have to attach the Xerox Copy of Proof Documents along with PAN Application Form.

You can apply for PAN from the 2 Websites given below-

NSDL Site- https://www.onlineservices.nsdl.com/paam/endUserRegisterContact.html

UTIITSL Site- https://www.myutiitsl.com/PAN_ONLINE/PANApp

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How to apply for a PAN card online?

To apply PAN Online, follow the steps given below –

Step 1 – First of all it is important to know about the instructions for filling up the form. To know about this, click on the link given below –

> https://tin.tin.nsdl.com/pan/Instructions49A.html#instruct_form49A

Step 2 – Then go to the link given below to complete the form on the site of NSDL.

https://www.onlineservices.nsdl.com/paam/endUserRegisterContact.html

Step 3 – After that, if you are Indian then you have to pay 107 rupees + service tax for PAN application. If your nationality is of another country, then 994 rupees + service tax has to be paid.

You can pay this application Fees in many ways –

  • Credit / debit card
  • Net banking
  • demand draft

After the payment is complete, you will receive an Acknowledgment Number which you can save and keep as it may be required later.

Step 4 – For the application of the PAN card, you have to upload a copy of the documents according to the rules. With the help of the link given below, you can know what are the documents that you need to apply for PAN Card.

Complete list of Documents >> https://www.tin-nsdl.com/services/pan/documents-req.html

How to correct mistakes made in the PAN card?

All the information in PAN must be correct. Now the government has also provided online facilities to change and improve PAN information. For that too you can apply by going to the link given below.

Link to apply

https://www.onlineservices.nsdl.com/paam/endUserRegisterContact.html

Be sure to read the instructions before applying for improvement

https://www.tin-nsdl.com/services/pan/instructions-change.html

There are also options similar to making new PANs in this, but in this, you have to choose the Change and Correction of Existing PAN in the first step and follow the next step.

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