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How to Apply for a PAN Card?

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Know all about Pan card application process online or offline in very simple way. pan card documentation process, pan card eligibility, Types of pan card, how to check the pan card application status, everything about Pan card at Afinoz – PowerPoint PPT presentation

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Title: How to Apply for a PAN Card?


1
How to Apply for a PAN Card?
2
Overview of PAN
  • Permanent Account Number (PAN) is a nationalized
    identity or identity proof. This is required for
    opening a bank account. 
  • Any financial transaction in the nation is
    considered incomplete if the PAN Card does not
    back it.
  • The Income Tax Department allocates this ten
    digit alphanumeric account. However, to use it,
    one has to apply for a PAN card and get it
    issued.
  • The Permanent Account Number is an alphanumeric
    code assigned by the Income Tax Department in
    India to every citizen above 18 years of age.
  • Every taxpayer is assigned this card, and he/she
    uses this card at the time of transactions.

3
PAN Card Structure
4
PAN Card Structure
  • PAN Card consists of 10 alphanumeric characters
    the first 5 characters are alphabets while the
    next 4 are number followed by 1 character which
    is an alphabet.
  • Some other facts about the unique code on the PAN
    card-
  • The first 3 characters are a random sequence of
    the alphabet.
  • The fourth character shows the type of applicant
    like individual, legal authority, company, etc.
  • The fourth character signifies the kind of
    taxpayer that you are.
  • A Association of Persons (AOP)
  • B Body of Individuals (BOI)
  • C Company

5
PAN Card Structure
  • F Firm
  • G Government
  • H HUF (Hindu Undivided Family)
  • L Local Authority
  • J Artificial Judicial Person
  • P Individual
  • T AOP (Trust)
  • K Krishi (Trust Krishi)
  • In this case, if the individual is applying for
    PAN card then the fourth character would be P.
    So if an individual obtains PAN, his/her PAN will
    have the fourth character as P which stands for
    the individual taxpayer.
  • The fifth character can be the applicants
    surname. It can be the first charter of the name
    of the company, local, etc.  So, if your name is
    Rohit Gajpati, then the fifth character is going
    to be G
  • The last character is an alphabet.

6
Types of PAN Cards
  • By now, you know that PAN card is indispensable
    for every individual, company, NGOs, partnership
    firms and even the foreign firms who are
    operating in India come under this jurisdiction.
    So, the PAN card is issued for both, individuals
    and companies.
  • PAN Card for Individuals- As it is apparent from
    the name, PAN card for an individual is issued to
    individuals. It helps in keeping track of all the
    financial transactions.
  • PAN Card for Companies- PAN card for companies is
    similar to that of an individual. However, in a
    PAN card for the company, you will not find any
    pictures. Also, in place of date of birth, you
    will find the date of registration of the
    company.
  • PAN for Foreign Citizens in India- Any foreign
    citizen who wishes to start a business in India
    must get a PAN card. The process of application
    is similar that an Indian national needs to
    follow. But, foreign citizen needs to fill Form
    49AA instead of Form 49A.
  • Any HUFs, Trusts or Individuals can also apply
    for PAN card.

7
PAN - Old Vs. New
8
PAN - Old Vs. New
  • The first PAN series was launched in the year
    1972. However, it was discontinued for certain
    reasons.
  • There was no central database which made
    verification of multiple PAN allocation to
    taxpayer difficult.
  • Ill-structured storage of data. Also, it had only
    basic information like name, address, etc.
  • PAN did not have a permanent number as it
    depended on the jurisdiction of the assesse.

9
PAN New Series
  • Earlier the registration of taxpayer made use of
    the General Index Register Number (GIR), but the
    new methodology which replaced it had PAN.
  • But, it still had certain drawbacks that needed
    to be rectified.
  • So, the final transformation in this was done in
    the year 1995 under section 139A of the Income
    Tax Act, and thats how we got the new series of
    PAN card.

10
How the new series was better than the old series
  • It linked all the tax-related information to a
    single identification number similar to UID or
    Unique Identification number.
  • Easily retrievable data from the central
    database.
  • All financial information was linked to a single
    PAN. Thus it was more authentic and could be used
    during loan approval.

11
What information is present on the PAN card?
  • The PAN card has the following information-
  • It contains your name
  • Date of Birth
  • The PAN Number
  • The date of issue of PAN card
  • Since all these facts are authorized and approved
    by the Government of India, PAN card is
    considered as a indispensable document and is
    used as ID proof for most of the business
    processes.

12
How to apply for a PAN card?
  • To apply for the card, you need to submit
    application form supported by various identity
    proofs and other information that is mentioned on
    the form.
  • The process of application is very
    straightforward, you can either apply online, or
    you can also go for the offline application.
  • All you need to do is go to the NSDL website and
    fill the online application form and upload the
    required documents.
  • If you dont wish to go with online way, then you
    can download the form from NSDL website and
    submit the filled application form along with the
    supporting documents to the PAN Service center
    near your place.

13
PAN Card Application Process
14
How to Apply for PAN Card Online?
  • The entire process is mentioned on the NSDL
    website.
  • The applicant needs to go to the website and go
    to form 49A.
  • This is the PAN application form and one who
    needs to get a new PAN card needs to fill and
    submit it.
  • A PAN card can be applied for through the NSDL
    (National Securities Depository Limited) as well
    as through the UTIISL (UTI Infrastructure
    Technology and Services Limited).
  • Applicants can submit their PAN card applications
    either offline or online.

15
Online PAN Card Application Process
16
What if I have lost the PAN card, how can I get a
duplicate copy?
  • If someone loses this card and want to get a
    duplicate card, then they need to follow these
    steps
  • Similar to the PAN application process, you need
    to visit the official website of NSDL and apply
    for the duplicate PAN card request.
  • You need to fill in the desired information
    mentioned on the form.
  • If you only need a duplicate card and dont want
    to change any information out there, then you
    need to fill the request for the duplicate PAN
    and submit it. There is a small box on the left
    margin that would ask if you wish to make any
    changes. In case you dont want to change any
    information and want to continue with the old
    address, then you have to submit the form.
  • Once you have filled the form, then you need to
    submit the ID proof like Aadhaar card, passport,
    and address proof like Voter ID and in addition
    to this, one needs to submit the form.
  • The applicant needs to pay a small fee which they
    can pay online. Once this is done, they will get
    an acknowledgment regarding their application.
    One must keep this acknowledgment handy and can
    use it to track the status of their application.

17
Dos and Donts for PAN Card Application
  • If you are applying for a PAN card, then you must
    keep all these points into consideration while
    going through the application process
  • Make sure that all the details are filled right
    and matches to the ones that are there in a
    document supporting your application form.
  • Make sure that you get the thumb impression
    attested by the gazetted officer like Notary
    office or Magistrate to avoid disqualification of
    the application form.
  • Mention the complete address and accurate contact
    details.
  • Fill the application form in capital letters
  • If you are filling the physical form, then dont
    overwrite or scribble on the form, it might get
    the form rejected.
  • Do not apply for new PAN card in case it gets
    stolen, lost or tampered. Apply for a duplicate
    PAN card.

18
Uses of a PAN Card
  • You can use this card as proof of identification
    throughout the nation. It is one of the most
    authentic pieces of information about an
    individuals identity.
  • You can keep track of your tax payment.
  • You would need a PAN card for a loan application,
    purchase of property and acquiring electricity
    and gas connection.
  • Since PAN is assigned to every individual, it
    used to track all the information like payment of
    taxes, debt liability of an entity and
    investments made by an individual.

19
What if a person doesnt have a PAN card?
  • Well, PAN card is an important identification
    proof. If you fall in the taxpayer slab, then you
    need to have a PAN card, failure of which may
    result in the following
  • Paying flat 30 tax on your earning and wealth as
    decided by the Income Tax Department of India.
    This rule is applicable to individuals, companies
    and all the entities that fall in the taxpayer
    slab.
  • You would not be able to get a loan or purchase
    involving or even buy immovable property more
    than Rs. 10 lakhs. Not having PAN will also not
    let you open a bank account.
  • Businesses would also be charged a TDS of 30 and
    will not be able to conduct many of its
    activities. The primary reason for this is that
    the PAN card is not a indispensable document
    demanded by the banks and financial institutes.

20
FAQs
  • How can I apply for a PAN card?
  • The process of PAN card application is very
    straightforward. You can either log on to the
    NSDL website, or fill the form online or you can
    also download the form, fill and post to their
    headquarter.
  • What is the different type of forms for PAN card
    application?
  • If you are an Indian citizen, then you need to
    fill Form 49A. Foreign nationals need to submit
    Form 49AA.
  • Will I get an acknowledgement after submitting
    the form?
  • Once you have filled the form and submitted it,
    you will get 15 digit acknowledgment numbers
    which you can also use to track the information
    or status of your PAN card application.
  • Will I get an acknowledgment when I submit my PAN
    application form at a TIN-FC?
  • Yes, you will receive an acknowledgment that
    contains a unique 15-digit number.

21
FAQs
  • After how many days can I check the status of my
    PAN card application?
  • Once you have applied, you need to wait for 3
    working days. After 3 days you can check the
    status of the application form, using your
    acknowledgment number and logging on to the NSDL
    website.
  • In how many days can I expect to get my PAN card?
  • If you have applied for a PAN card, then it takes
    15 days for it to reach you.
  • How many pictures are required? Is it necessary
    to furnish 2 photos for the application?
  • If you are applying for a PAN card, then you
    would need 2 pictures of size 3.5 cm x 2.5 cm. It
    should be recent pictures, having a white
    background. The applicant must sign through the
    pictures in such a way that half of the signature
    is on the pictures while the other half is on the
    form. Here, you can go for online PAN Application

22
Read More
  1. How to download Aadhar Card?
  2. How to Login at EPFO and Check Your PF Balance?
  3. How to Withdraw EPF online?
  4. Best Credit Cards in India
  5. Best Way to Get Personal Loan with a Low Income
    or No Salary Slip

23
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