The Permanent Account Number (PAN) card is a Printed ID-card that carries a unique ten digit alphanumeric code issued by the Income Tax Department of India under the auspices of the Central Board for Direct Taxes (CBDT). Apart from being used to remit your taxes, PAN cards can also be identity proofs and are almost mandatory to open bank accounts, telephone connections, vat registration, service tax registration, tds etc.
PAN Card to Curb Tax Evasion
In an effort to cut down tax evasions, the Government of India made PAN Cards mandatory to be quoted on challans for payments tothe Income Tax Department from January 1, 2005. Moreover, it conveys an easier mode of tax remittance. PAN is also necessary in selling or purchase of a property worth over Rs. 500,000 and during depositing an amount greater than Rs. 50,000 in a bank or post office.
PAN Card is Mandatory for Tax Payers
PAN Card is a must for all tax payers or citizens who are to furnish a return of income, even on behalf of another person. It is also necessary for a businessman to obtain a PAN if the total sale of his business or salary has exceeded Rs. 5 lakhs in the previous years. Quoting of PAN card is necessary for any interactions with CBDT or even opening a bank account which makes it a necessity for an Indian citizen.
Procedures to Apply for PAN Card
The application for a PAN is to be filled in Form 49A which can be downloaded here[PDF] from taxraj.com. You must fill the form carefully with black ink in block letters.
Two Passport colourphotograph with plain background must be attached to the form along with your identity , address and date of birth proofs. An identity and address proof , can be a passport, voter’s ID, driving license, adhar card etc. as per list provided here
The forms can be submitted at our office via courier or post given at contact us page.. A fee of Rs. 150/- is to be paid during the submission of form online at here. Your PAN card will be couriered to your mailing address within 15-30 days.
Applying Online: The application for the Permanent Account Number can also be done directly through the internet. For this, you must visit here. Here, you are able to fill the forms online and submit it. You will receive a 15 digit acknowledgement number along with recieptby email that must be used for future contacts.
Applying for Duplicate PAN Card: To apply for a duplicate PAN, you can request for the duplicate pancard by filling form here. You can change the PAN data and request for a duplicate PAN
Tracking the Status
You can check the status of your application for the PAN Card with the help of the Status Track search set up online at here. Here you will have to furnish either the acknowledgement number or fill in your details like name and date of birth.
PAN Card is mandatory for many transactions in India. Rules are becoming strict concerning it. Therefore, if you do not have a PAN Card, be sure to get one soon.