Learn process to apply PAN Card online with step by step procedure online and offline.
Permanent Account Number or PAN was initiated by the Indian IT department in order to help with simple retrieval of data and matching details related to an assessee'sventure, taxes payment, increasing loans, evaluation, tax arrears, tax demand, etc. The PAN is distinctive, nationwide, and everlasting. It is not affected by amodification in address, even amid states of India. As a widespread identification key the PAN helps in checking all financial transactions of high net worth people and thus not directly preventstax avoidance. Learn how to apply for PAN Card Online.
Documents necessary for PAN card application:
You can get your PAN card by easily filling up the application form and putting forward the same at any of the branches with subsequent documents:
- Self attested or indicated proof of address (POA).
- Self attested or indicated proof of identity (POI).
- Two copies of present photograph.
- Keep in mind to bring the original documents to the branch for authentication.
In case of minors, the POA & POI of the parent or guardian (who should also be an income tax assessee) who applies on the behalf of the minor should be kept along with the application. Photograph of the minor must be attested on the application form.
A processing fees of Rs. 125.00 (Rs. 105.00 + ST Rs. 20.00) has to be paid at the time of submitting application form.
PAN gets assigned within seven working days and the physical card will be sent within fifteen working days to the address of the person or entity straight by UTI - ITSL.
Varied uses of PAN card in day to day life
- It is a big verification document.
- For investments in primary and secondary markets.
- For opening Demat accounts and Trading Accounts.
- For investing in Mutual Funds.
- Necessary for any depositor whose receipts are subject to inference of tax at source.
Preventative measures for filling application form
- When filling up the application form, take additional care in filling the name.
- The Last Name or Surname should be your name and first name should be the development of your first and middle name should be the extension of your second initial.
For instance, if the name is "M Raja", then it should be written as "Manickam Raja".