How to apply for Pan card Online: Don’t you have a PAN card? Is it required to have a PAN card for everyone? Who is eligible to apply for a PAN card? Haven’t you applied for a PAN card? Aren’t you aware of the entire process of applying for a PAN card? To all queries, We, in this post, will share complete information about PAN card and its details as to how to apply for a PAN card online.
What is a PAN Card:
The PAN (Permanent Account Number) is a national, permanent, and unique number introduced by the Indian Income Tax Department. As it has a universal identification number, it for sure helps the Govt to scrutinize all financial transactions of individuals who are high net worth and can nab the individuals who evade the tax amount. Besides, With PAN card, Income tax agencies can fetch information regarding individual’s investments, tax payments, loans, tax arrears, and tax demand.
The Indian Income Tax Department issues PAN Cards. PAN card can be used as ID proof. The Indian Govt made it mandatory from 1st January 2005 to claim the PAN number on challans for any transactions.
Advantages of PAN card:
- To open an account in any private or public bank, you’re required to produce a PAN card number.
- While making any transactions above fifty thousand rupees, a PAN card is mandatory.
- When you deposit the money summing fifty thousand rupees, you’re supposed to give a PAN card number.
- It curbs tax evasion and entertains transparency in transactions between individuals.
- It’s important to produce PAN card while purchasing or buying immovable properties aggregating more than 10 lakh rupees.
Who should apply for a new PAN card?
PAN card is only for Indian citizens. Any individual who is engaged in financial transactions and paying taxes, providing a return of income must possess a PAN card. You must ensure that you have either no PAN card or PAN number, before applying for a new PAN card. The PAN card can only be applied when an individual has never applied for a PAN card or it got damaged or it is lost.
Can a person have or use more than one PAN card?
The individual shouldn’t possess more than one PAN card as per the Indian law.
Can a person again apply for a PAN card?
You can apply for a PAN card if you have lost it and wish to make changes and corrections to the existing PAN card like Name, Fathers’ name, and Date of Birth.
How long does it take to get the newly applied PAN card?
It doesn’t take more than 15 days to get a PAN card if you are applying for the first time. In case, you are applying for a PAN card on account of damage or loss or any corrections to the existing ones, it takes more than 30 working days to obtain. However, it varies according to the authorities’ prudence and workload.
Documents required to apply for a new PAN card?
Below is the list of documents required for applying for a new PAN CARD:
- Ration card having the applicant’s photo
- Election ID card
- Scanned photo of the applicant
- Aadhaar card
- Driving license
- SSC’ marks memo or certificate or Birth certificate
How much does it cost to apply for a PAN card?
It doesn’t cost you more than 93 Indian rupees to apply for a PAN card. You can pay the amount through the credit/debit card, net-banking, or demand draft.
How to apply a for PAN card online:
The income tax department has made the applying PAN card process even simpler than ever before. Therefore, you don’t need to fill the entire application to get a PAN card. Anyone who possesses the Aadhaar card can apply for a PAN card online.
Before you apply for a new PAN card online, ensure that you have scanned valid documents like Election or Voter ID card, Driving license, Birth Certificate, Aadhaar card, and Passport size Photos. As the Indian Govt has made it mandatory that whoever has the PAN card must link to Aadhaar or whoever is going to get a PAN must link to Aadhaar.
Below are steps to apply for a new PAN card.
- Visit the official website of the Income Tax Department to fill the application online. Click on the tab termed as “Instant PAN through the Aadhaar link under “Quick Links”.
- Click Here – https://www.incometaxindiaefiling.gov.in/e-PAN/
- Tap on “Get New PAN” on the new page.
- Enter your 12 digit Aadhar number registered with your phone number.
- You will get an OTP number generated on the Aadhaar registered contact number.
- You get the Permanent Accountant Number (PAN) in the form of PDF instantly through mail as soon the OTP number is entered.
Getting e-PAN is now paperless and does not require any physical documents at all. The e-PAN facility is given to those who have linked their contact number to Aadhaar number. The entire process of applying doesn’t take you more than 10 minutes.