All about PAN Card - (PAN) Permanent Account Number in India
PAN Stands for Permanent
Account Number issued by the Income Tax department to identify every Taxpayer
in The Country. Pan Card is a 10-digit
unique identification alphanumeric number (containing both alphabets and
numbers) assigned to Indians, mostly to those who pay tax.
The PAN system
of identification is a computer-based system that assigns 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.
When PAN is
allotted to an entity, PAN Card too is given by the Income Tax Department.
While PAN is a number, PAN Card is a physical card that has your PAN as well as
name, date of birth (DoB), father’s or spouse’s name, and photograph. Copies of
this card can be submitted as proof of identity or DoB.
Your PAN Card is
valid for lifetime because it is unaffected by any change in address.
PAN Card Forms
In order to
apply for a PAN card, an application form has to be filled out. There are two
types of application forms – Form 49A and Form 49AA. Both the forms can be
availed through both online and offline platforms.
Form 49A: The Form
49A is used by Indian individuals or entities to apply for a PAN card. Students
and minors can also apply for PAN using this form.
Form 49AA: The Form
49AA is the application form for PAN which is used in the case of foreigners.
The forms have
to duly filled up and sent in to the TIN-Protean eGov Technologies Limited's
office.
Documents required for applying for a PAN card
Here are the
documents which are required to apply for a PAN card:
Aadhar card
Voter ID card
Passport
Structure of PAN Card
As per the
guidelines of Know Your Customer or KYC, the details furnished on a PAN card
are as follows:
1) Name of the
cardholder
2) Father’s name
of the cardholder
3) Date of Birth
of the cardholder
4) 10-character
alphanumeric Permanent Account Number or PAN
5) Signature of
the cardholder
6) Photograph of
the cardholder
7) The PAN card
also comes with the logo and hologram of the Government of India along with a
tag of the Income Tax Department (ITD).
The following are the list of transactions which can be done
only if you have your PAN card:
Opening a bank
account
Filing your IT
returns
Applying for a
loan
Applying for a
gas or telephone connection
Purchasing or
selling a new property
Getting a debit
or credit card
Opening a fixed
deposit account
Making insurance
premium payments
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