PAN  (PERMANENT ACCOUNT NUMBER)

A PAN card (Permanent Account Number) is a unique 10-character alphanumeric digit issued by the income tax department of India to individuals, companies, HUF and other entities who is liable to file income tax returns or do specified financial transactions. The PAN card includes basic personal details like:

1. Your full name
2. Photograph
3. Father's name (Mother's name in case of a single parent)
4. Date of birth
5. PAN number
6. Your signature

Why required a PAN card?

The income tax department keeps an eye on all your financial transactions through your PAN Card, like depositing money in your fixed deposit account, shares trading, buying, selling, a property in India, etc.

The PAN card is also required for opening a new bank account, filing income tax returns, and to conduct certain financial transactions. The PAN card is valid for lifetime and is unique to each person.

Who is eligible to apply for a PAN card?

Individuals, companies, non-resident Indians, or anyone in India are eligible to apply for a PAN card.

How to apply for a PAN?

You can apply for a PAN card either online or offline.

Online Application: Online application can be made by both NSDL website or UTIITSL website. After applying for a PAN card, you can track the status of your application online through the NSDL or UTIISL website by using the acknowledgment number. It typically takes around 5 to10 days to receive your PAN card.

Through "Instant PAN" facility, it is now possible to get an instant PAN card by quoting your Aadhaar number in just a few minutes.

Types of PAN card forms:

• Form 49A – Application for allotment of PAN to be filled by the Indian citizens / Application of request for new PAN Card or/and changes or corrections in PAN
• Form 49AA - Application for allotment of PAN to be filled by foreign citizens.

Can I have two PAN cards?

• No if you have more than one PAN, surrender it immediately to the income tax department. A penalty of Rs. 10,000 can be imposed or legal action can be taken in such a case.

I have lost my PAN card, how to get it re-issued?

• If you have 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 the old PAN card.

How to correct any mistake or change any data on my PAN card?

• A request for correction in PAN Card data is to be filled in by selecting the appropriate box on the left margin of the application form named “Request for New PAN Card or/ and changes or correction in PAN along with the correct documents as proof.