PAN CARD : COMPLETE INFORMATION

PAN, or permanent account number, is a unique 10-digit alphanumeric identity which is allotted to each taxpayer by the Income Tax Department under the supervision of the Central Board of Direct Taxes. It also serves as an identity proof. PAN is mandatory for financial transactions such as receiving taxable salary or professional fees, sale or purchase of assets above specified limits, buy mutual funds and more.

The primary objective of PAN is to use a universal identification it is a key to track financial transactions. The PAN number remains unaffected by change of address throughout India.

WHO MUST APPLY FOR PAN?
Anybody who earns a taxable income in India, including foreign nationals who pay taxes here. Anybody who runs a business (be it retail, services or consultancy) that had total sales, turnover or gross receipt exceeding Rs 5 lakh in the previous financial year
HOW TO APPLY?
  • Use 'Form 49A' or 'Form 49AA' as applicable to you. Find more details at incometaxindia.gov.in.
  • You can find the location of PAN card offices in any city from the websites of the Income Tax Department or National Securities Depository Limited (NSDL).
  • You will need copies of proof of Identity and address.
  • Payment can be made using cash, cheque or demand draft.
  • You can also apply online through websites of the I-T Department or NSDL.
  • If you are applying online, the processing fee can be paid via net banking, credit card or debit card.
  • Online PAN Application
  • Track the status of your application online.
  • Track Your PAN Card Click Here

WHY GET A PAN NUMBER?
  • For payment of direct taxes
  • To file income tax returns
  • To avoid deduction of tax at higher rate than due
  • To enter into specific transaction such as:
(a) Sale or purchase of immovable property valued at Rs 5 lakh or more
(b) Sale or purchase of a vehicle other than a two wheeler
(c) Payment to hotels or restaurants an amount exceeding Rs 25,000 at any one time
(d) Payment in cash an amount exceeding Rs 25,000 in connection with travel to any foreign country
(e) Payment of an amount of Rs 50,000 or more to the Reserve Bank of India for acquiring bonds
(f) Payment of an amount of Rs 50,000 or more to a company or an institution for acquiring bonds or debentures
(g) Payment of an amount of Rs 50,000 or more to a company for acquiring shares
(h) Any mutual fund purchase
(j) Deposit exceeding Rs 50,000 with any single banking institution in 24 hours.
(k) Payment exceeding Rs 5 lakh for purchase of bullion and jewellery

Apply-for-PAN-Card-New-OR-Correction

Steps In Case Of UTI For Pancard Status Verification

  Select Application Type

 ( सबसे पहले नीचे दिए गयी दोनों टाइप में से एप्लीकेशन की टाइप सलेक्ट करे )

‘New Application (F49a) OR   CSF (For Correction /Reprint)

  Type ‘15 digit Coupon No’. उसके बाद १५ अंकीय Coupon No. टाइप करे.
  Click on ‘Submit’ Box अंत में ‘Submit’ Button पर क्लिक करे.

One should keep in mind that no verification should be made within first 5 days from the date of Acknowledgement in case of NSDL and from the date of Coupon in case of UTI.

Track Your PAN Card Click Here

Structuring of Permanent Account Number, PAN

Permanent Account Number is effective because of its uniqueness. It is an interesting thing to learn about the structuring of PAN. There is a lot of hidden information that goes into the making of the Permanent Account Number.PAN is generated automatically by the online system by taking into account the information furnished by the PAN applicant.

  • First Three Characters
    The first three characters of PAN are a sequence of alphabets from AAA to ZZZ
  • Fourth Character
    The fourth character signifies the type of taxpayer that you are.
    • A — Association of Persons (AOP)
    • B — Body of Individuals (BOI)
    • C — Company
    • F — Firm
    • G — Government
    • H — HUF (Hindu Undivided Family)
    • L — Local Authority
    • J — Artificial Judicial Person
    • P — Individual
    • T — AOP (Trust)
    • K — Krish (Trust krish)
    So if an individual obtains PAN, his/her PAN will have the fourth character as ‘P’ which stands for individual taxpayer.
  • Fifth Character
    The fifth character in PAN is the first letter of your surname. So, if a person is named ‘Rajesh Khanna’, the fifth character of his PAN will be ‘K’
  • Last Character

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