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How to apply for PAN Card In India?

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PAN, or permanent account number, is required to create a bank account, submit taxes, make investments in securities, and carry out any other financial transaction. PAN Card holds the cardholder’s PAN and personal information. All of the pertinent financial information about the person is stored in the Permanent Account Number search, which also serves as their tax identification number. So, for many facets of your financial life, knowing your Permanent Account Number is essential. Well, let’s determine all the information regarding this crucial card.

What is a PAN Card and who can apply

A PAN card has a distinct 10-digit alphanumeric code and is issued by the Income Tax Act, of 1961. This code, which is computer-generated, is specific to the cardholder and is good for life.

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Individuals are not the only ones who qualify for a PAN card. Companies and partnership firms are also eligible to apply for PAN Cards, and having a PAN card becomes necessary for these entities when they file their income tax reports. Individuals, minors, students, and non-resident Indians may all apply online for PAN cards.

Types of PAN Cards

Given that PAN Cards can be obtained by both individuals and entities, various PAN Card kinds must be applied for using various forms of Form 49 that the government issues. These are the many PAN Card kinds and the various forms needed to obtain them.

Individual PAN Cards

The most popular version of the PAN Card that is given to people is this one. Form 49A, which is accessible online via the websites of the NSDL and UTIITSL, is used to apply for this card. Any resident Indian, including minors and students who qualify for a PAN card, is considered an individual.

PAN Card for Non-Resident

Individuals or Persons of Indian Origin PAN Cards are available to NRIs and PIOs so they may file taxes in India. To obtain this card, they would also need to file Form 49A.

PAN Card for Foreign Companies Making Tax Payments in India

A PAN Card may also be obtained by corporations or firms that are registered outside of India but pay taxes there as a result of doing business there. As a requirement of the PAN card application procedure, they would have to complete and submit Form 49AA.

PAN Card for OCI and NRE

Foreign nationals living abroad and non-resident entities are also eligible to apply for a PAN card. Form 49AA is the pertinent form that they need to complete to apply for a PAN card.

PAN Card for Organizations in India

To facilitate their financial and tax-related transactions, companies and corporate entities that are both registered and operating in India may also apply for a PAN Card.

How to Apply for a PAN Card

A PAN card can be obtained through either the online application process or the offline application method. The procedures for applying for and receiving a PAN card will be covered in the sections that follow.

Process of Applying for a PAN Card Online

The NSDL (now Protean) or UTIITSL portals are the two online applications for PAN cards. The procedures that must be followed when registering for a PAN card and applying for one online are as follows:

  • Step 1: To apply online for a PAN card, go to the NSDL or UTIITSL website.
  • Step 2: Choose the “New PAN” option.
  • Step 3: Depending on whether a person is an Indian citizen, an NRE or NRI, or an OCI, they should select PAN card form 49A.
  • Step 4: Enter the person’s information in this form.
  • Step 5: To start the processing of the form, the applicant must additionally pay the processing cost online or with a demand draft after submitting the form.
  • Step 6: A 15-digit acknowledgment number is generated on an acknowledgment slip following payment of the fees and submission of the PAN Form 49A.
  • Step 7: Within 15 days of submitting Form 49A online, you can either mail the application by courier along with the necessary papers to the UTIITSL office or NSDL PAN office, or you can e-sign it using Aadhaar OTP authentication.
  • Step 8: The PAN number is checked when the acknowledgment form is couriered to the appropriate office, and the card is made after the NSDL/UTIITSL PAN verification. The physical PAN card will be sent to the customer’s address on the form within 15 days.

How to Apply for a PAN Card Offline

You can also apply offline for a PAN card at any PAN agency located in your district:

  • Get a copy from UTIITSL agents or the NSDL office, or download the PAN card application form 49A from the NSDL or UTIITSL website.
  • Complete the form and affix the necessary paperwork (photos, proof of address, and identity documents).
  • Send the completed form, the necessary paperwork, and the processing money to the NSDL/UTIITSL office.
  • The address provided in the form will get the PAN card within 15 working days.

What occurs if your PAN Card is missing?

You ought to own a PAN card for the following reasons:

  • If your PAN is not provided, you will not be allowed to do financial transactions over Rs 50,000.
  • Purchasing or selling real estate requires a PAN.
  • If you don’t have your PAN card, you can’t file income tax returns.
  • Failure to provide your PAN in your credit card or loan application will result in its rejection.

Conclusion:

For those who are taxpayers or who are conducting financial activities, applying for a PAN card is an essential step. You can easily apply for your PAN card online or offline by following the instructions and providing the required paperwork with accuracy. Do not forget to monitor the progress of your application and make sure that all necessary documents are submitted on time to prevent processing delays.

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