Permanent Account Number or PAN card is just another extra identification card you have to carry with you in India. It is not an acceptable proof of Indian citizenship and just acts as an identification for individuals, families or companies.
PAN Card allows the government to keep track of all your critical financial transactions for assessing tax liability and bring down the chance of tax evasion. PAN Card is mandatory for businesses having turnover more than 5 lakh and is a must now for starting your own business.
Although individually, it is only useful for people paying Income Tax, purchasing or selling car, investing. Basically for transactions of a huge amount.
Yet everyone has to issue a PAN card and have the 10 digit alphanumeric code with them.
So this is the process of getting the impertinent document, PAN card:
There are two agencies authorised by the Income Tax Department to issue a pan card on their behalf. NSDL (National Securities Depository) and UTIITL (UTI Infrastructure Technology).
Both these agencies have an online portal to fill out the application but at the end, you will anyway have to submit a physical copy. So better to go in person and finish the job in a single day.
Step 1 and only: Fill the form 49(A)
Form 49(A) or 49(AA) is the only accepted form for applying for a PAN Card. 49(A) if you are a resident of India and 49(AA) if you do not have an Indian citizenship.
You have to fill out your basic everyday details like your full name, residential address, contact details and the supporting documents to be attached for proof with a 3.5cm x 2.5cm recent photograph.
Documents to be attached:
You will need to attach three kinds of supporting documents. Address proof, Identity proof and Date of Birth proof. Carry minimum one of each.
Documents For Address Proof: Aadhar Card, Electricity Bill or any other bill (not older than 3 months), Driving License, Passport, Domicile Certificate, Voter ID, Bank Account statement (not older than three months).
Documents For Identity Proof: Aadhar Card, Voter ID, Driving License, Ration Card (having the photo of the applicant), Arms License, Passport, Central Government Health Scheme Card, Bank certificate containing an attested photograph of the applicant along with bank account number of the applicant.
Documents For DOB proof: Birth Certificate (authorised authority), Matriculation Certificate (10th or 12th-grade passing certificate), Passport, Driving License.
If you have an Aadhar card with complete date of birth (i.e. date month and year) you will just need one single document for a new pan card. If your Aadhar card does not have a complete date of birth then you can just attach a date of birth proof with Aadhar card.
Submit the form to the nearest agency with along with Rs. 110 (UTIITSL rate). Receive the PAN Card at the address submitted for proof within 10-15 days. You can also track the status of your PAN Card as both the agencies have the option of tracking of your application enabled.
PAN card had relevance before and it still does but, only for financial transactions of huge amount exclusively. It is still needed for getting Debit or Credit card.
But before PAN Card was needed to open a bank account and was even used as an important proof of identification. Now it is just overshadowed by its more famous kin Aadhar Card.
Image Credits: Google Images
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