How to Apply for PAN Card in India: Step-by-Step Guide
To apply for a PAN (Permanent Account Number) card in India, you can follow these steps:
• Visit the official website of NSDL (National Securities Depository Limited) or UTIITSL (UTI Infrastructure Technology and Services Limited), which are the two authorized entities that issue PAN cards in India.
• Click on the 'New PAN' option.
• Fill out the online application form with your personal details such as name, date of birth, address, and contact information.
• Upload the required documents such as proof of identity, proof of address, and proof of date of birth. You can check the list of documents required on the respective websites.
• Pay the processing fee online using debit/credit card or net banking.
• After submitting the application, you will receive an acknowledgement receipt with a unique 15-digit acknowledgement number. You can track your application status using this number.
• Once your application is processed and approved, your PAN card will be dispatched to your address within a few weeks.
Alternatively, you can also apply for a PAN card offline by downloading the form from the NSDL or UTIITSL website, filling it out, and submitting it along with the required documents and fee at any of the authorized PAN card centers or TIN (Tax Information Network) facilitation centers.
Who cannot apply for PAN
As per the guidelines of the Income Tax Department in India, every individual, including foreign nationals, who earns a taxable income in India is eligible to apply for a PAN. However, minors, i.e., individuals under the age of 18, cannot apply for a PAN on their own. They can apply for a PAN only through their parents or legal guardians.
Apart from minors, there are no specific categories of individuals who are prohibited from applying for a PAN. However, certain entities such as Hindu Undivided Families (HUFs), companies, firms, and trusts are also eligible to apply for a PAN in India.
What is the fess for PAN
The fee for applying for a PAN card in India depends on the mode of application and the communication address provided. The current fees for PAN card applications are as follows:
• For Indian citizens: a) If the communication address is within India: INR 107 (including GST) b) If the communication address is outside India: INR 989 (including GST)
• For foreign citizens: a) If the communication address is within India: INR 1,017 (including GST) b) If the communication address is outside India: INR 989 (including GST)
Note: These fees are subject to change as per the guidelines of the Income Tax Department in India.
Benefits of a PAN CARD
Here are some benefits of having a PAN (Permanent Account Number) card in India:
• Facilitates Taxation:
A PAN card is primarily used to track all financial transactions of an individual or entity and helps in filing income tax returns, paying taxes, and claiming tax refunds.
• Identification:
A PAN card serves as a valid identity proof for various official purposes such as opening a bank account, applying for loans or credit cards, and availing government subsidies.
• Ease of Doing Business:
A PAN card is mandatory for businesses and organizations to carry out various transactions such as paying taxes, filing returns, and obtaining licenses.
• Investment Opportunities:
A PAN card is essential to invest in securities such as shares, mutual funds, and other financial instruments.
• Avoidance of Tax Evasion:
A PAN card helps in preventing tax evasion by enabling the Income Tax Department to track transactions and financial activities of individuals and entities.
• Acceptance in Transactions:
A PAN card is widely accepted as a valid identity proof for various transactions such as property purchases, vehicle purchases, and travel bookings.
• International Transactions:
A PAN card is required for making payments or receiving funds from abroad, and it also facilitates obtaining a Tax Residency Certificate (TRC) for claiming benefits under Double Taxation Avoidance Agreements (DTAAs).
Overall, having a PAN card provides multiple benefits and is a crucial document for conducting financial transactions and tax-related activities in India.
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FAQs
Q: Who is authorized to issue PAN cards in India?
A: The two authorized entities that issue PAN cards in India are NSDL (National Securities Depository Limited) and UTIITSL (UTI Infrastructure Technology and Services Limited).
Q: What documents are required to apply for a PAN card in India?
A: The documents required to apply for a PAN card in India include proof of identity, proof of address, and proof of date of birth. The exact list of documents may vary based on the applicant's status (e.g., individual, company, trust, etc.).
Q: How can I pay the processing fee for a PAN card application in India?
A: The processing fee for a PAN card application can be paid online using debit/credit card or net banking.
Q: How long does it take to get a PAN card in India?
A: After submitting the application, it may take a few weeks to get the PAN card delivered to your address.
Q: Can I apply for a PAN card offline in India?
A: Yes, you can apply for a PAN card offline by downloading the form from the NSDL or UTIITSL website, filling it out, and submitting it along with the required documents and fee at any of the authorized PAN card centers or TIN (Tax Information Network) facilitation centers.
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