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|What is a PAN Card?|
|What is significance of 4th letter in the PAN card number ?|
|How does the 5th digit depict the last name of the holder?|
|Why should I need a PAN Card?|
|But what if I don't file my Income Tax Return and I've got nothing to do with the Income Tax Department, do I still need it?|
|Is it mandatory to apply for a PAN, even if I don't fall in any of the above categories?|
|What if my minor child enters in the abovementioned transactions?|
|What happens when I enter into such above mentioned transactions without having PAN card?|
|Is it different from other ID proofs? How?|
|How do I apply for a PAN?|
|What are the types of PAN application form?|
|How much time will it take to receive my PAN card?|
|I am not a citizen of India, is the procedure for applying PAN different for me?|
|I applied for a PAN some time ago and haven't received it yet, what to do?|
|Can I have two PAN cards?|
|Can I apply a PAN on behalf of someone else?|
|I have lost my PAN card, now?|
|How to correct any mistake or change any data in my PAN card?|
|My address has changed, do I need to apply for a new PAN card?|
|I forgot my PAN number? What to do?|
|What happens in case of any contravention relating to PAN?|
|Frequently Asked Questions|
As we all know PAN (Permanent Account Number) Card is an identification proof issued by the Income Tax Department. It contains the following 5 basic information along with your photograph:
Through your PAN number, the Income Tax Department keeps an eye on all your transactions that requires your PAN Card like depositing money in your bank account over Rs 50,000 at one time, buying goods and services more than Rs 2 Lakh etc.
In case of an individual, the 5th digit is the first letter of the last name / surname. For example, Ms. Tania Gupta applied for a PAN, then the 5th digit of her PAN will be "G".
But, in case of a non-individual, the 5th digit shall denote the first character of the PAN holder's name. Let's say, Tania Limited applied for a PAN, then the 5th digit of the unique number allotted to it will be "T".
PAN number basically creates your identity in front of Income Tax Department. The department doesn't identify you by your name or father's name but by your unique 10-digit number mentioned on your PAN Card. From filing returns to paying taxes to getting refunds and for all the communications with the Income Tax Department, PAN is a pre-requisite.The Income Tax Department mandates you to have PAN Card in the following circumstances-
Well, not only the Income Tax Department but other institutions also require quoting of pan mandatorily in the following specified transactions:1. Opening:
8. Payment for travel to any foreign country or for purchase of foreign currency for an amount exceeding Rs. 50,000;
Well, its highly unlikely that you do not enter into any of the above mentioned categories, but still if you do not then you are not required to obtain a PAN as per the law. Although, you can still apply for a PAN voluntarily, obtaining a PAN is optional and not mandatoryin such a case.
If any minor enters in these specified transactions, then he can quote PAN of his parents or guardian.But when the income of the minor child exceeds Rs 2,50,000 which is chargeable to Income Tax then he cannot quote PAN of his parents or guardian and will be required to have his own PAN card.
In case you don't have a PAN number and you enter into any of the above mentioned transactions, then you are required to file a declaration in Form No. 60. A Form 60 is just a form containing basic details such as your name, the transaction you are entering into, any return if filed and the reason for not having a PAN. Also, a valid proof of address is to be attached with Form 60.
Yes, totally. Other ID proofs such as Aadhaar Number Cards, Driving License, Passport etc. are issued to only Indian citizens, while a PAN card can be issued to non-citizens / foreigners too who have dealing in specified transactions stated above as it is not a proof of Indian Citizenship.
You are required to fill the prescribed application form along with the required attachments either offline or online through NSDL or UTI
Generally, it takes about 15 - 20 business days for your PAN card to reach at the address provided by you in the details. (yes, that fast)
No, the procedure for applying a PAN is same for every individual, whether an Indian citizen or a Foreign citizen. The only difference being Form 49AA is to be filled and submitted through an authorized representative at any authorized PAN centre instead of Form 49A. However, you may find the online mode of application easier and more convenient which provides for online payment of fees using various options.
In any such case, where you have applied for a PAN card and wondering where it is, simply just track the status of your PAN card with the help of acknowledgement number issued at the time of applying for a PAN or consult our experts.
No person can hold two PAN's and thus, if you have more than one PAN, surrender it immediately to the income tax department. In fact, a penalty of Rs. 10,000 can be imposed on you in such a case.
In case, you lost your PAN card, you need to apply for re-issuing or re-printing of your PAN card by submitting a valid ID, address and DOB proof along with an attested photocopy of old PAN card. Remember, do not apply for a new PAN card altogether.
A request for re-issue of PAN Card is to be filled in by selecting the appropriate box on the left margin of the application form naming “Request for New PAN Card or/ and Changes or Correction in PAN Data” along with the correct documents as a proof.
No. A change in address is just a change in your jurisdiction and assessing officer, and no application for a new PAN is required in such a case. Only, the change in address is required to be intimated to the income tax department for successful updation of their database for future correspondence.stance to know your PAN? Contact us
In case, if you contravene any provision relating to Section 139A i.e. PAN, then you will be liable for a penalty amounting to Rs. 10,000/- per default u/s 272B of the Income Tax Act, 1961. The contraventions can be any of the following:
Ans. Not clear
Ans. You can download PAN card soft copy (e-PAN card) through the NSDL portal with your Acknowledgement number as well as your PAN and date of birth
Ans. The contact details of NSDL are : Address – 5th Floor, Mantri Sterling, Plot No. 341, Survey No. 997/8, Model Colony, Near Deep Bungalow Chowk, Pune – 411 016.
Tel – 020 – 27218080 (From 7.00 AM to 11.00 PM for All Days)
Fax – 020 – 2721 8081
Email – [email protected]
Ans. The first three characters of PAN are alphabetic series between AAA to ZZZ. For instance, the beginning of your PAN could be BSN or AoZ; it is selected randomly.
Ans. PAN is alphanumeric digit , first and tenth digit is the alphabetic digit and it is generated through formula of other numbers.
Ans. There is no mobile number that is mentioned on the face of the PAN card. However, if you want to update the mobile number registered with the department , you can update the same by logging into your account on the income tax website.
Ans. Log onto Income Tax Department e-Filing website. Click on “Register Yourself” & Enter your PAN Card number. Fill up the Registration Form and submit it. After that link will be sent to the email address. Click on this link to activate your account. Visit income tax portal to Enter your account and click on “My Accounts”. > Profile Settings > PAN Details. Your details will be generated. You can check jurisdiction details there.
Ans. If you want to know your Permanent Account Number (PAN) after the card is lost, the best thing to do is to Visit www.incometaxindiaefiling.gov.in/home. Click on ‘Know Your PAN’. Fill in the details asked for. Click on ‘Submit’. Enter the OTP sent on the mobile number. Click on ‘Validate’ and then screen will appear and with all the details required.
Ans. The option to interchangeably use aadhar and PAN card for filing Income Tax Return is just an additional facility. It will facilitate those who do not have PAN card but are willing / liable to file ITR. This new provision in no way will replace PAN card by aadhaar. Instead, the income tax department will suo moto (without receiving application from assessee) issue PAN card in such cases.
Ans. As per the Income Tax law, holding two PAN is not allowed. Therefore, if you are holding Two PAN, you must surrender the one PAN. PAN can be surrendered online or offline. Also, you must write a letter to your assessing officer regarding the surrender of the PAN.
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