How to Apply for a PAN Card?

1
How to Apply for a PAN Card?
2
Overview of PAN

• Permanent Account Number (PAN) is a nationalized
  identity or identity proof. This is required for
  opening a bank account. 
• Any financial transaction in the nation is
  considered incomplete if the PAN Card does not
  back it.
• The Income Tax Department allocates this ten
  digit alphanumeric account. However, to use it,
  one has to apply for a PAN card and get it
  issued.
• The Permanent Account Number is an alphanumeric
  code assigned by the Income Tax Department in
  India to every citizen above 18 years of age.
• Every taxpayer is assigned this card, and he/she
  uses this card at the time of transactions.

3
PAN Card Structure
4
PAN Card Structure

• PAN Card consists of 10 alphanumeric characters
  the first 5 characters are alphabets while the
  next 4 are number followed by 1 character which
  is an alphabet.
• Some other facts about the unique code on the PAN
  card-
• The first 3 characters are a random sequence of
  the alphabet.
• The fourth character shows the type of applicant
  like individual, legal authority, company, etc.
• The fourth character signifies the kind of
  taxpayer that you are.
• A Association of Persons (AOP)
• B Body of Individuals (BOI)
• C Company

5
PAN Card Structure

• F Firm
• G Government
• H HUF (Hindu Undivided Family)
• L Local Authority
• J Artificial Judicial Person
• P Individual
• T AOP (Trust)
• K Krishi (Trust Krishi)
• In this case, if the individual is applying for
  PAN card then the fourth character would be P.
  So if an individual obtains PAN, his/her PAN will
  have the fourth character as P which stands for
  the individual taxpayer.
• The fifth character can be the applicants
  surname. It can be the first charter of the name
  of the company, local, etc.  So, if your name is
  Rohit Gajpati, then the fifth character is going
  to be G
• The last character is an alphabet.

6
Types of PAN Cards

• By now, you know that PAN card is indispensable
  for every individual, company, NGOs, partnership
  firms and even the foreign firms who are
  operating in India come under this jurisdiction.
  So, the PAN card is issued for both, individuals
  and companies.
• PAN Card for Individuals- As it is apparent from
  the name, PAN card for an individual is issued to
  individuals. It helps in keeping track of all the
  financial transactions.
• PAN Card for Companies- PAN card for companies is
  similar to that of an individual. However, in a
  PAN card for the company, you will not find any
  pictures. Also, in place of date of birth, you
  will find the date of registration of the
  company.
• PAN for Foreign Citizens in India- Any foreign
  citizen who wishes to start a business in India
  must get a PAN card. The process of application
  is similar that an Indian national needs to
  follow. But, foreign citizen needs to fill Form
  49AA instead of Form 49A.
• Any HUFs, Trusts or Individuals can also apply
  for PAN card.

7
PAN - Old Vs. New
8
PAN - Old Vs. New

• The first PAN series was launched in the year
  1972. However, it was discontinued for certain
  reasons.
• There was no central database which made
  verification of multiple PAN allocation to
  taxpayer difficult.
• Ill-structured storage of data. Also, it had only
  basic information like name, address, etc.
• PAN did not have a permanent number as it
  depended on the jurisdiction of the assesse.

9
PAN New Series

• Earlier the registration of taxpayer made use of
  the General Index Register Number (GIR), but the
  new methodology which replaced it had PAN.
• But, it still had certain drawbacks that needed
  to be rectified.
• So, the final transformation in this was done in
  the year 1995 under section 139A of the Income
  Tax Act, and thats how we got the new series of
  PAN card.

10
How the new series was better than the old series

• It linked all the tax-related information to a
  single identification number similar to UID or
  Unique Identification number.
• Easily retrievable data from the central
  database.
• All financial information was linked to a single
  PAN. Thus it was more authentic and could be used
  during loan approval.

11
What information is present on the PAN card?

• The PAN card has the following information-
• It contains your name
• Date of Birth
• The PAN Number
• The date of issue of PAN card
• Since all these facts are authorized and approved
  by the Government of India, PAN card is
  considered as a indispensable document and is
  used as ID proof for most of the business
  processes.

12
How to apply for a PAN card?

• To apply for the card, you need to submit
  application form supported by various identity
  proofs and other information that is mentioned on
  the form.
• The process of application is very
  straightforward, you can either apply online, or
  you can also go for the offline application.
• All you need to do is go to the NSDL website and
  fill the online application form and upload the
  required documents.
• If you dont wish to go with online way, then you
  can download the form from NSDL website and
  submit the filled application form along with the
  supporting documents to the PAN Service center
  near your place.

13
PAN Card Application Process
14
How to Apply for PAN Card Online?

• The entire process is mentioned on the NSDL
  website.
• The applicant needs to go to the website and go
  to form 49A.
• This is the PAN application form and one who
  needs to get a new PAN card needs to fill and
  submit it.
• A PAN card can be applied for through the NSDL
  (National Securities Depository Limited) as well
  as through the UTIISL (UTI Infrastructure
  Technology and Services Limited).
• Applicants can submit their PAN card applications
  either offline or online.

15
Online PAN Card Application Process
16
What if I have lost the PAN card, how can I get a
duplicate copy?

• If someone loses this card and want to get a
  duplicate card, then they need to follow these
  steps
• Similar to the PAN application process, you need
  to visit the official website of NSDL and apply
  for the duplicate PAN card request.
• You need to fill in the desired information
  mentioned on the form.
• If you only need a duplicate card and dont want
  to change any information out there, then you
  need to fill the request for the duplicate PAN
  and submit it. There is a small box on the left
  margin that would ask if you wish to make any
  changes. In case you dont want to change any
  information and want to continue with the old
  address, then you have to submit the form.
• Once you have filled the form, then you need to
  submit the ID proof like Aadhaar card, passport,
  and address proof like Voter ID and in addition
  to this, one needs to submit the form.
• The applicant needs to pay a small fee which they
  can pay online. Once this is done, they will get
  an acknowledgment regarding their application.
  One must keep this acknowledgment handy and can
  use it to track the status of their application.

17
Dos and Donts for PAN Card Application

• If you are applying for a PAN card, then you must
  keep all these points into consideration while
  going through the application process
• Make sure that all the details are filled right
  and matches to the ones that are there in a
  document supporting your application form.
• Make sure that you get the thumb impression
  attested by the gazetted officer like Notary
  office or Magistrate to avoid disqualification of
  the application form.
• Mention the complete address and accurate contact
  details.
• Fill the application form in capital letters
• If you are filling the physical form, then dont
  overwrite or scribble on the form, it might get
  the form rejected.
• Do not apply for new PAN card in case it gets
  stolen, lost or tampered. Apply for a duplicate
  PAN card.

18
Uses of a PAN Card

• You can use this card as proof of identification
  throughout the nation. It is one of the most
  authentic pieces of information about an
  individuals identity.
• You can keep track of your tax payment.
• You would need a PAN card for a loan application,
  purchase of property and acquiring electricity
  and gas connection.
• Since PAN is assigned to every individual, it
  used to track all the information like payment of
  taxes, debt liability of an entity and
  investments made by an individual.

19
What if a person doesnt have a PAN card?

• Well, PAN card is an important identification
  proof. If you fall in the taxpayer slab, then you
  need to have a PAN card, failure of which may
  result in the following
• Paying flat 30 tax on your earning and wealth as
  decided by the Income Tax Department of India.
  This rule is applicable to individuals, companies
  and all the entities that fall in the taxpayer
  slab.
• You would not be able to get a loan or purchase
  involving or even buy immovable property more
  than Rs. 10 lakhs. Not having PAN will also not
  let you open a bank account.
• Businesses would also be charged a TDS of 30 and
  will not be able to conduct many of its
  activities. The primary reason for this is that
  the PAN card is not a indispensable document
  demanded by the banks and financial institutes.

20
FAQs

• How can I apply for a PAN card?
• The process of PAN card application is very
  straightforward. You can either log on to the
  NSDL website, or fill the form online or you can
  also download the form, fill and post to their
  headquarter.
• What is the different type of forms for PAN card
  application?
• If you are an Indian citizen, then you need to
  fill Form 49A. Foreign nationals need to submit
  Form 49AA.
• Will I get an acknowledgement after submitting
  the form?
• Once you have filled the form and submitted it,
  you will get 15 digit acknowledgment numbers
  which you can also use to track the information
  or status of your PAN card application.
• Will I get an acknowledgment when I submit my PAN
  application form at a TIN-FC?
• Yes, you will receive an acknowledgment that
  contains a unique 15-digit number.

21
FAQs

• After how many days can I check the status of my
  PAN card application?
• Once you have applied, you need to wait for 3
  working days. After 3 days you can check the
  status of the application form, using your
  acknowledgment number and logging on to the NSDL
  website.
• In how many days can I expect to get my PAN card?
• If you have applied for a PAN card, then it takes
  15 days for it to reach you.
• How many pictures are required? Is it necessary
  to furnish 2 photos for the application?
• If you are applying for a PAN card, then you
  would need 2 pictures of size 3.5 cm x 2.5 cm. It
  should be recent pictures, having a white
  background. The applicant must sign through the
  pictures in such a way that half of the signature
  is on the pictures while the other half is on the
  form. Here, you can go for online PAN Application

22
Read More

1. How to download Aadhar Card?
2. How to Login at EPFO and Check Your PF Balance?
3. How to Withdraw EPF online?
4. Best Credit Cards in India
5. Best Way to Get Personal Loan with a Low Income
   or No Salary Slip

23
Thank You !!!