PAN stands for Permanent Account Number and it is nothing but a unique identification number which is issued by the Income Tax Department of India to keep a unique record of every taxpayer of the country. Your PAN Card is linked with your bank account and it holds all your tax-related information in one place, allowing Income Tax Department to maintain a detailed record of all your transactions. Thus, PAN Card helps the Income Tax Department in preventing tax evasion extensively.
PAN Card has several uses apart from Income Tax Returns, but it is also necessary for processes like opening a bank account when applying for a debit/credit card when applying for loans when starting an FD, and for insurance payments. PAN Card can be used as proof of identity and it is mandatory when initiating a foreign currency exchange.
How to apply for PAN Card?
In this article, we will take you through a step by step guide of the process of applying for a PAN card in India.
Step 1: Download the PAN Card Application Form ‘Form 49A’ if you are an Indian resident. If you are a non-resident individual (NRI) or a foreign national, download ‘Form 49AA’.
Step 2: Fill in the PAN Card application form.
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Step 3: Attach all supporting documents along with a passport size photograph with your PAN Card application.
Step 4: Pay the fee by cash or by Demand Draft.
Step 5: On your envelope, you should write ‘APPLICATION FOR PAN -N-15 DIGIT ACKNOWLEDGEMENT NUMBER’.
Step 6: And you have to send the envelope to this address:
Income Tax PAN Services Unit, NSDL e-Governance Infrastructure Limited, 5th Floor, Mantri Sterling, Plot No. 341, Survey No. 997/8, Model Colony, Near Deep Bungalow Chowk, Pune – 411016
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Documents Required with PAN Card Application form-
Proof of Identity, Proof of DOB, and Address proof are three types of documents required for PAN card application by an Indian Citizen or a Hindu Undivided Family (HUF). For each proof required, the Income Tax Department has suggested a list of documents.
1. Below are the documents accepted as Proof of Identity for PAN Card:
| Copy Of | Original Documents |
|---|---|
| Voter’s ID card | Certificate of identity (signed by a Member of Legislative Assembly or Member of Parliament or Municipal Councillor) |
| Passport | Bank certificate |
| Aadhar card | |
| Ration card having Applicant’s photo | |
| Driving License | |
| Pensioner card | |
| Photo identity card | |
| Central Government Health Scheme Card | |
| Ex-Servicemen Contributory Health Scheme Card |
2. Below are the documents accepted as proof of Address for PAN Card:
| Copy of | Original Dcuments |
|---|---|
| Landline bill | Certificate of address. This has to be signed by a Member of Legislative Assembly or Member of Parliament or Municipal Councilor or a Gazette officer |
| Electricity bill | Employer certificate |
| Gas connection card | |
| Water bill | |
| Depository account statement | |
| Bank account statement | |
| Credit card statement |
3. Below are the documents accepted as Proof of Date of Birth for PAN Card:
- Birth certificate issued by any office that is certified for issuing Birth as well as Death Certificate, like Municipal Authority
- Birth Certificate issued by Indian Consulate
- Matriculation certificate from a recognized board
- Aadhaar Card
- Driving license
- Passport
- Certificate of Marriage issued from Marriage Registrar’s Office
- Pension payment order
- Domicile certificate issued by Government of India or any of the state governments
- Affidavit stating the DOB which is signed before a magistrate
- Photo identity card issued by the Central Government or State Government or Central Public Sector Undertaking or State Public Sector Undertaking.
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How to apply for a PAN Card For a Minor
Most people think that a PAN card is only used for paying taxes but, a PAN card is necessary for a number of activities, like buying property and vehicles, as well as making large investments and cash deposits. Thus a PAN card is essential.
Most individuals apply for PAN Card after turning 18 or having to pay tax, but the government of India also issues PAN cards for minors
The process for applying for PAN Card for Minor is as follows-
- First, you have to download Form 49A (for Indian residents) or Form 49AA(for Indians not residing in India).
- Now fill in the relevant details and attach copies of the documents required.
- For a minor PAN card, no photograph is required.
- After that submit the form and documents to the nearest UTIITSL office along with the processing fee amount.
- On verification of the information submitted, the PAN card will be posted to the address mentioned in the form.
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How to update PAN Card of Minor on becoming Major?
When a minor turns into a major, the existing PAN card in their name needs to be modified to reflect the new changes. A simple and hassle-free procedure has been put in place to complete these formalities, with one expected to follow the following steps-
- On attaining maturity, an individual who held a PAN for a minor has to apply for a fresh account, utilizing Form 49A (if Indian citizen) or Form 49AA/ (if foreign citizen).
- The PAN Card application form needs to be filled with relevant information, with the applicant expected to sign it and update any new details (if any).
- Now, the applicant should submit relevant documents, including photographs and address proof, with the PAN Card Application form.
- The form can be filled and submitted, either online or offline.
- After successful payment, an acknowledgment number will be generated, which can be used for future correspondence with the department.
PAN Card is important for taxpayers as it is necessary for all financial transactions and is used to track the inflow and outflow of your money. It is important when paying income tax, receiving tax refunds, and receiving communication from the Income Tax Department. PAN Card also serves as proof of identity.
So It is necessary to have a PAN card as a responsible Citizen.
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