Know your pan card

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Know your pan card Status

• BY istatus.co.in

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Permanent Account Number (PAN) is a unique
10-digit code issued by the Indian Income Tax
Department under Central Board of Direct Taxes
which is used as an important proof of
identification for Individuals and Income tax
paying entities who are governed under the Indian
Income Tax Act 1961.
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Unlike Aadhar card, Voter ID, Passport and other
identification cards the PAN is also issued to
Foreign Nationals who have valid VISA and are in
India for Investments or Business, hence PAN is
not accepted as a proof of citizenship. The
main purpose of the Track pan card status all
financial transactions and check tax evasions in
order to protect the economy from the rich and
the affluent high-net-worth individuals.
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The PAN is unique to every individual for an
entire lifetime and throughout the country and it
remains unaffected by change in address of the
holder. The IT PAN card is issued by the Indian
Income Tax Department under the Section 139A of
Income Tax Act.
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Go here for the 10-digits in the PAN
constitutes five codes, the first three digits
are alphabetic serial number followed by the code
that classifies the type of individual or
taxpaying entity, the fifth digit is derived from
the first character of the last name followed by
four digits of serial number and the last digit
is an check code denoted by an alphabet.
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Obtaining a PAN is optional and voluntary like
Driving Licence, Passport but it is compulsion
for opening new bank accounts, buying-selling
assets and doing transactions of higher values.

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The individuals have to apply for PAN by
submitting the required application form to the
authorized PAN agency of the district or can also
apply online via NSDL accompanied by two passport
size color photographs, proof of identification,
Date of Birth and Address proof with the
prescribed fee.
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It is also recommended to assist with Aadhaar
card. Once the request is accepted by NSDL the
PAN Card is sent to the individual via India Post
and often reaches within 10-15 days.
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• CREDIT istatus.co.in