If are you an eligible taxpayer then you must know about PAN Card and their use in India. To help you more, we bring to you the list of the top 7 things that you must know about the PAN Card so let’s get started.
Table of Contents
What is PAN Card?
A Permanent Account Number (PAN) card is a unique 10-digit alphanumeric identification number issued by the Indian Income Tax Department.
It is used to track financial transactions such as the filing of income tax returns, payment of taxes, opening of bank accounts, applying for loans, and other financial activities.
It is essential for individuals and businesses to have a PAN card as it serves as an essential form of identification.
How to apply for Pan card online
Applying for a PAN card online is a quick and easy process. Below are the steps given
- To get started, you’ll need to visit the official website of the Income Tax Department of India.
- You will need to do registration to ensure all communication is being received on your email id.
- Once there, you’ll need to fill out the online application form with your personal details and submit it.
- You’ll also need to upload a few documents such as your identity proof and address proof. Lastly, you’ll need to pay the processing fee of rupees 100 approx and submit your application.
- Once the application is submitted, you’ll receive your PAN card within a few weeks after scrutiny of your application on your email.
- An email will be sent with the password-protected soft copy of your pan card for you to download and print it.
You can even apply for a hard copy by visiting the pan card-authorized office. Additionally, you can avail E-pan FREE of cost from the government site.
Structure of a PAN Card
The structure of a PAN Card includes a 10-digit alphanumeric code, a photograph of the cardholder, the cardholder’s name, their father’s name, and their date of birth.
The 10-digit code is divided into five parts: the first three characters are alphabetic characters that signify the type of entity holding the PAN; the fourth character is a number that represents the year of PAN issue; the fifth character is a letter that represents the issuing authority; the last five characters are numbers and letters unique to the PAN holder.
Who is Eligible for a PAN Card?
A Permanent Account Number (PAN) card is a unique 10-digit code issued by the Indian Income Tax Department to taxpayers in India.
Anyone who earns a taxable income in India is eligible to apply for a PAN card, including individuals, companies, trusts, firms, Hindu Undivided Families (HUFs), limited liability partnerships (LLPs), and any other entity or organization that pays taxes in India.
To apply for a PAN card, applicants must submit an application form with proof of identity, address, and date of birth.
Applicants may also need to provide additional documents such as a copy of their passport, voter ID, or Aadhaar Card.
How to link Aadhaar with pan card online step-by-step
Linking your Aadhaar with your PAN card is a simple process that can be completed online in a few easy steps.
- First, you must visit the official website of the Income Tax Department of India. Once there, look for the option to ‘Link Aadhaar’ and click on it. Next, fill in the required information.
- This will include your PAN card number and your Aadhaar number. You will also need to enter the Captcha code that appears on the page.
- Once you have filled in all of the necessary information, click on the ‘Link Aadhaar’ button.
- You will then receive a confirmation message that your Aadhaar has been successfully linked to your PAN card.
I hope this helps you link your Aadhaar with your PAN card. If you have any further questions, please do comment.
How to get a duplicate Pan card?
Getting a duplicate Pan card is a relatively simple process.
- First, you will need to visit the official website of the Income Tax Department of India at https://www.incometaxindia.gov.in.
- Once you are there, you will need to select the option for ‘Apply for New e-PAN’.
You will then be asked to fill out the application form, provide the necessary documents, and pay the applicable fees.
- Once these steps are completed, you should receive your duplicate Pan card in the mail in a few weeks. If you have any questions or need any further assistance, you can always contact the Income Tax Department helpline at 1800 180 1961.
What are the types of PAN Card in India?
In India, there are three main types of PAN Card – one for individuals, one for businesses, and one for trusts. The PAN Card for individuals is the most common and is used to identify individuals for income tax filing and other financial purposes.
The PAN Card for businesses is used to identify the company or organization when filing taxes and other financial documents.
The PAN Card for trusts is used to identify the trust when filing taxes and other financial documents. Each PAN Card has a unique 10-digit alphanumeric code that is used for identification.
How to correct name in pan card
- Go to NSDL website and apply online by raising a request online for Change/correction in particulars.
- To change or correct the name on your PAN card, you will need to fill out Form 49A and submit it to the Income Tax Department.
- You will also need to provide proof of your identities, such as a passport, birth certificate, or voter ID card.
- Once you have submitted the form and the necessary documents, the Income Tax Department will review your request and make the necessary changes to your PAN card.
Final Words – PAN Card Use
A Pan Card is an essential document for Indians as it is used to track an individual’s financial transactions.
It is issued by the Income Tax Department and is used to identify taxpayers. It is also used to link all the financial transactions of an individual to the government.
A Pan Card is also required for opening a bank account or for investing in mutual funds. In addition, it is used for filing income tax returns, applying for loans, and for claiming tax refunds.
As such, it is an essential document for any Indian citizen to possess.