Permanent Account Number or PAN is a means of identifying various taxpayers in the country. PAN is a unique identification number assigned to Indians, mostly to those who pay tax. The PAN system of identification is a computer-based system that assigns a unique identification number to every Indian tax paying entity. Through this method, all tax related information for a person is recorded against a single PAN number which acts as the primary key for storage of information. This is shared across the country and hence no two people on tax paying entities can have the same PAN.

The idea behind PAN is similar to the Social Security Number or SSN used in the United States. SSN in the US is a unique nine-digit number issued to all citizens of the US, permanent and temporary both. Although the primary aim of SSN creation was to track individuals for social security purposes, it has now become a primary identification number for taxation processes.

Any PAN issued is valid for the entire lifetime of the PAN holder. This is so majorly because PAN is unaffected by any change of address of the PAN cardholder.

How To Apply For Pan Card Online -

If you have an Aadhar card or any Other Govt. Id Date Of Birth & Address Proof then you can apply for a new PAN card.

For this, you have to just enter your Personal Information in Online Application Form. You can Check Below Links For More Detail Information on How to apply for Pan Card online.

Apply For Pan Card online

How To Check Pan Card Status Online -

If you applied for a new pan card through NSDL or UTI then you can check your Pan card details with the help of Acknowledgement number which is given to you at the time of PAN card apply.

How To Check Pan Card Status

Track Your Pan Card Online

It is very easy to track PAN card status online with the help of Acknowledgement number and Application coupon number.

Click To Track Pan Card

Online Pan Card Verification

Online PAN Bulk Verification application is available for Organizations with categories as approved by Income Tax Department.Given below is a list of all the individuals and groups who are eligible for Online PAN Card verification.

Check Here To Verify Pan Card

Change or Correction in Pan Card

If you want to change, correct or update PAN card details then you have to check below post procedure To Update it Online from pan card site.

Click To Change Update Pan Card Data

Pan Card HelpDesk Enquiry

Income Tax Pan Services Unit (NSDL e-Governance)and UT Infrastructure Technology Services Limited (UTIITSL) which issue PAN card facilities to all individuals of India.

Check Here For Pan Help Enquiry Contact Details 

Pan Card Letters Meaning

Permanent Account Number is effective because of its uniqueness. It is an interesting thing to learn about the structuring of PAN. There is a lot of hidden information that goes into the making of the Permanent Account Number.

PAN is generated automatically by the online system by taking into account the information furnished by the PAN applicant.

So if an individual obtains PAN, his/her PAN will have the fourth character as ‘P’ which stands for an individual taxpayer.

PAN Cards Types

The Income-tax Department has mandated that all tax paying entities register and possess a PAN card. While this applies to individuals, companies, partnership firms, NGO’s as well as foreign firms also come under the purview of this directive.

As a result, PAN cards are issued for individuals as well as companies.

PAN Card for Individuals

A PAN card for individuals is used to keep track and link all financial transactions that attract tax, with the IT department calculating the total taxable amount due on the basis of this data.

PAN Card for Companies

A PAN card for organizations is similar to that for individuals, with the exception that there is no photograph on the physical PAN card. Also in lieu of the date of birth mentioned on individual PAN cards, the date of registration of the company/organization is mentioned.

PAN for foreign citizens in India

All foreign citizens who wish to carry out business in India are required to obtain PAN. The procedure for doing so is same as applicable to resident Indians. However, the application form for foreigners is formed 49AA. All entities that are eligible to obtain PAN as Indian citizens are also eligible to obtain PAN as foreign citizens. This list includes entities like HUFs, individuals, trusts and so on.

The IT Department calculates the amount of tax the company/organization is required to pay through its various transactions, all of which now require quoting the PAN card.

Importance Of Pan Card

A PAN card is a document that no taxpayer can do without. Besides being compulsory in order to file your Income Tax returns and to receive a tax refund, a PAN card also serves an accepted proof of identity and has now been made mandatory for a number of transactions of both a business as well as a personal nature. A comprehensive list of the various activities that require a PAN card to complete or authenticate the activity are mentioned below:

Pan Card Uses

Benefits Of Pan Card

Who Can Apply For Pan Card ?

PAN is allotted to people who fall under any of the following categories.

Under section 139A of the Income Tax Act, following are the taxpaying entities that are required to have a Permanent Account Number:

PAN is supposed to be applied for by all tax paying entities including individuals, HUFs, partnerships, companies, the body of individuals, trusts etc. Also, PAN is furnished by the Income Tax Department for other similar entities like minors, judicial persons, firms, Krish etc. Also.

At the time of allotment of PAN to an entity, PAN card too is furnished by the Income Tax Department. While PAN is a unique identification number, PAN card is a physical card that has your PAN details as well as name, age and photograph. Copies of this card are submitted by entities for various transactions when required.

What Happens If I Don’t Have a PAN Card?

If your income falls into a taxable bracket, not having a PAN card would result in:

You paying a flat 30% tax on your earnings and wealth, as stipulated by the Income Tax Department of India. This rule applies to individuals, companies and all entities eligible for tax, including foreign nationals and firms registered outside India.

Not having a PAN card will mean you will be unable to purchase a motor vehicle, buy immovable property worth over Rs. 10 lakh, and open an account with any bank in the country among other activities.

Businesses too will be charged TDS at a flat 30% and will be unable to conduct a large chunk of their activities since quoting PAN has now become mandatory for everything from purchasing land in India to rendering any sort of professional services in the country.

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