PAN or (Permanent Account Number) is a 10 digit unique code given by Government of India, which can be used as an identity for the individuals who pay income tax under the Income Tax Act 1961. PAN had been made mandatory since Jan 1, 2005. This card is allocated to every taxpayer by income tax department under the control of the Central Board of Direct Taxes in India. This system of identification is computer based which act as a storage of information for individuals. This PAN is highly important for every individual for opening Bank accounts, Assets purchases for verification purposes.
The main purpose of the PAN card is to bring transparency of all business financial transactions and illegal tax fraud to keep track of every future unfortunate incident. It is mainly used for all financial transactions like for new bank accounts, buying luxurious goods, property, and car, selling shares, applying for the passport and for payment of various income taxes. Income Tax Department issues PAN in the form of laminated card to the peoples.
Simple & Transparent Pricing
Rs. 199.00All Inclusive
Eligibility for PAN Registration
The Income Tax Department has not prescribed any minimum age for registering with PAN. Every citizen of India is eligible for PAN Card. Even a person with zero income can apply for a PAN Card.
Documents for PAN Registration:
|Age Proof of Candidate [Any one]||Legal Address Proof of Candidate or Guardians [Any one]||Legal ID Proof [Any one]|
|School Leaving Certificate||Driving License||Driving License|
|Driving License||Election Card||Election Card|
|Election Card||Aadhar Card||Aadhaar Card|
|Aadhaar Card||Light Bill||Passport sized photograph of Candidate.|
Following steps are involved in PAN Registration procedure
- Visit NSDL website.
- Fill up the form, submit and pay the fee
- PAN will be delivered to your registered address within 15 days
- Select the applicant type and category
- Fill up your information: i.e. Last Name/Surname, First Name, Middle Name, D.O.B, Email-ID, Contact Number
- After providing all your details, click on Submit button.
- Now you are registered.
Benefits of PAN Card
Opening Bank Accounts:
PAN is highly beneficial for opening new bank accounts in both national and private sector banks.
In the banking sector, PAN is mandatory for making payment in cash for banks draft purchasing, check deposits and payout orders.
Less Tax Rates:
With PAN card the individuals no need to pay higher tax rates for any purchases of goods and without PAN card the taxes will be charged at the highest possible rates.
PAN card provides you security as it carries the name, photograph, address and unique 10-digit code, which ultimately serve as a national identity proof for individuals.
If PAN card get lost or stolen by an intruder the name, address, birthday can get replaced but the PAN code will still remain unchanged.
With legal validation of PAN card, the individuals can buy or purchase any legal property. Addition to that, landline and broadband connection can be obtained by PAN card.
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