A PAN card holds the same value for Indians as the Social Secureness Card for US individuals. PAN translates to the Permanent Account Number granted by the Income Duty Department of India under the supervision of the Central Board of Immediate Taxes. aadhar card
This identification amount is a 10 number string of alphanumeric personas. Every registered citizen has an unique number with his or her personal details recorded against it. Unlike a Voter’s IDENTIFICATION, this identification number remains regular even though you change your place of residence. The also has an image of the holder.
So why a PAN Card?
This was issued to avoid tax evasion. It maintains track of all taxable financial transactions which in any other case had chances of heading unchecked. Only a legit citizen of India, including Non-Residential Indians, can apply for one.
You’ll be asked to produce a GRIDDLE card:
– If you are opening a brand new bank account
– If you be given a taxable salary
– In the event you accept fees for professional services
– If perhaps purchasing stocks and communal money
– If trading in real estate
– If making deposits, withdrawals and payments above Rs. 25, 500
– In the event purchasing jewelry, bullion or foreign currency valued above Rs. 5 Lakh.
– If applying for that loan
– When paying your taxed and applying for tax rebates.
This record is also regarded as an important identity resistant along with other documents such as a Voter’s ID, drivers license or a ration card.
Just how to apply for one?
The issuing is been able with a number of centers under the care of UTIITSL and NSDL. You can find one such center that is closest to you personally. The labels of authorized centers are listed on the Salary Tax Department or Nationwide Securities Depository Limited (NSDL).
There, you need to fill and submit the 49A form (Indian citizens) or 49AA form (foreign citizens). The other option available to you is an online registration. You are required to pay a bare minimum processing cost when processing the application form. You will also have to attach a few documents for treat and identity proof. Persons and organizations (such as Companies) can apply for a PAN card. The details and supporting documents you will need to give both will change.
After your application has been submitted, you can track the status quo online by keying in your details.
How to obtain a duplicate PAN Cards?
For those who have lost your GRIDDLE Card, there’s no need to get hassled. There exists an option to reprint it. The procedure is the same as making use of for home. The only difference is that you ultimately choose Changes or Corrections in PAN Card details. Addititionally there is the option to Reprint of PAN card. Following making the changes, you can refill 49A as a duplicate PAN greeting card application form.