fbpx

About This service

A PAN (Permanent Account Number) Card is used for many financial transactions. A ten-digit alphanumeric number, PAN Card is issued by the Income Tax Department in India. It is mandatory to quote PAN while filing our return of income. PAN is also used in transactions such as sale and purchase of immovable property or motor vehicle. It is also used for payments to hotels for bills or payments in cash, of amounts exceeding Rs. 25,000, in connection with travel to any foreign country. It is mandatory to mention PAN for obtaining a telephone or cellular telephone connection. Likewise, PAN has to be mentioned for making a time deposit exceeding Rs. 50,000 with a bank or post office.

+More

Includes/exclude

in service

  • PAN card application
  • Changes in the pan card details wrongly entered earlier

Whom

it’s beneficial

  • Any person who want to apply for PAN card
  • Person includes Individuals, HUF, Partnership Firm, NGO, Co-operative societies, companies, organisations etc....

Process

  • Purchase Plan
  • Provide details to be filled in Application form
  • Get Filled application form of PAN Card
  • Attached Photo and sign the form as per instruction
  • Courier the form on given Address

Information/Documents

needed

  • The documents needed shall depend on the service at a particular point of time. The same shall be communicated to you by our experts based on your requirements

Other information :

Every person who intends to enter into specified financial transactions in which quoting of PAN is mandatory. The primary purpose of PAN is to bring a universal identification to all financial transactions and to prevent Tax evasion by keeping track of monetary transactions of high-net-worth individuals. The central government has issued a notice making it mandatory to link existing Aadhaar numbers with permanent account number (PAN) of taxpayers with effect from July 1. The government has amended the Income Tax rules and has made Aadhaar a must at the time of application of PAN. Online application is made either through the portal of NSDL or portal of UTITSL. The application can filled through a physical form too, issued by the department.  Non-residents i.e. foreign citizens who wish to obtain a permanent account number can do so by providing the requisite and specific details.

Indian citizens are eligible for a PAN, if the individual falls in any one of the categories mentioned below:

Every person if his total income or the total income of any other person in respect of which he is assessable during the previous year exceeds.

In the case of Basic Exemption Limit

  • Individual Rs. 2,50,000
  • Resident Individuals of the age of 60 years and above but below 80 years Rs. 3,00,000
  • Resident Individuals of 80 years above Rs. 5,00,000

What is the structure of a Pan Card?

A PAN card has an array of 10 characters with alphabets and numerical, for the reasons mentioned below.

For eg.AFZPK7190K

First three characters i.e. “AFZ” in the above PAN are alphabetic series running from AAA to ZZZ.

Fourth character i.e. “P” in the above PAN represents the status of the PAN holder.

“P” stands for Individual.

“F” stands for Firm.

“C” stands for Company.

“H” stands for HUF.

“A” stands for AOP.

“T” stands for TRUST etc.

Fifth character i.e. “K” in the above PAN represents first character of the PAN holder’s last name/surname.

Next four characters i.e. “7190” in the above PAN are sequential number running from 0001 to 9999.

Last character i.e. “K” in the above PAN is an alphabetic check digit.

What is the Validity period of a PAN Card?

As the name suggests a permanent account number is valid for Lifetime of the individual or entity holding a PAN card.

Can an Individual or entity hold more than one PAN card?

No, the Income Tax Department levies a penalty for Rs. 10,000 for possessing more than one PAN Card.

What is the time period taken to obtain a PAN Card?

Normally, 15 days are required to process the application, provided application is found to be in order.

What are details for application for new PAN Card and Changes or Corrections in PAN Data?

Those who have already obtained the PAN and wish to obtain the new PAN card or want to make some changes / corrections in their PAN data, are required to submit their applications in the following form prescribed by ITD.

Request for new pan card or/and changes or correction in pan data: – The same form can be used by Indian as well as foreign citizens.

A new PAN card bearing the same PAN but updated information is issued to applicant in such case.

What is the procedure to cancel/surrender PAN?

If you wish to cancel/ surrender your PAN (which you are currently using), then you need to visit your local Income Tax Assessing Officer with a request letter to cancel/ surrender your PAN.

Submit your review
1
2
3
4
5
Submit
     
Cancel
Create your own review
₹ 499 only
OR
Have queries? Talk to an expert

Name

Email

Phone