PAN card or Permanent Account Number is a 10-digit alphanumeric unique identification number assigned to individuals, corporates and families. The main purpose of a PAN card number is to provide a unique ID for those who file IT returns. A PAN number is issued by the IT department, and since it is a Government issued ID, it can be used as a valid proof of identification.
As per law, one person can have only one PAN and having more than one number is illegal.
Steps to be followed for PAN application:
To get the document to apply PAN card online or go for offline PAN registration. Given below are the steps for application of the same.
PAN application offline:
Applying for a PAN Offline is simple with these steps:
- Download and print the PAN application form 49 A (form 49AA for foreign citizens) from the NSDL website – https://www.tin-nsdl.com/downloads/pan/download/Form49A_NSDL%20e-Gov_01.06.16.pdf
- Carefully fill the entire form and attach your latest passport size photo with your signature running across the photograph.
- Select and attach a valid address proof from the list of valid documents for address proof given in the application form.
- Attach a self-attested ID proof. The list of documents that are valid as ID proof is given in the application form.
- Submit the application form with documents required for PAN card and the prescribed fees to your nearest PAN centre. You can search the nearest PAN centre on the NSDL website: https://www.tin-nsdl.com/pan-center.html
- You will receive the PAN card within 15-20 days if all documents are correct.
PAN application online:
- Fill in the application form online on the NSDL website with all necessary details.
- Choose the mode of online payment once you have completed the application and pay the requisite fee.
- An acknowledgement slip will be generated once you have made the payment.
- Take a print of this slip, attach your passport size photograph, duly signed. Attach address proof and valid ID proof to the application and post it to – ‘Income Tax PAN Services Unit, National Securities Depository Limited, 3rd floor, Sapphire Chambers, Near Baner Telephone Exchange, Baner, Pune – ‘
- Super scribe the envelope in the following format – ‘APPLICATION FOR PAN – Acknowledgment Number’ before posting it.
- You will get the PAN card via post within 15-20 days from the date of documents reaching the IN PAN services unit.
- You can verify your PAN card application status online by using the acknowledgement number.
Advantages of applying for a PAN card:
- Mandatory for filing IT returns: Having a PAN is mandatory for filing IT returns.
- Mandatory for the bank and other transactions: Bank transactions above a specified limit, purchase of gold and other transactions require quoting PAN mandatorily.
- Loan application: Having a valid PAN is a mandatory condition at the time of applying for a loan.
- Identity proof: In addition to all the specific requirements, PAN is also accepted as a valid photo ID as it is issued by the Government.
Disadvantages (Not disadvantages found)