Very recently, people are clamoring for an easier and a more fast and practical way of applying for a PAN card, in short, an online way of accomplishing it. But what is a PAN card? PAN or Permanent Account Number is a ten-digit alphanumeric code generated by the India’s ‘Income Tax Department’, that is required by anyone and everyone who wish to conduct any kind of financial transaction in India. Even those whose financial transaction is limited to paying income tax require it! PAN is required if you wish to enter the Indian Share Market. This is true for NRIs – Non Resident Indians living abroad too, who wish to make investment in India, buy property/house in India, open bank account, demat account or rent out a property. Here then are the easy way steps in applying for a PAN card:
1. Foremost reminder: online PAN application is not available for: Government Organizations.
2. An applicant will do the filling up of Form 49A online and submit the form.
3. Once, there are any errors, rectify them and re-submit the form.
4. After which, a confirmation screen with all the data filled by the applicant will be displayed.
5. It is then the prerogative of the applicant to either edit or confirm the same.
6. On confirmation, an acknowledgment will be displayed. The acknowledgment will contain a unique 15-digit acknowledgment number.
7. The applicant is requested to save and print this acknowledgment.
8. ‘Individual’ applicants should affix a recent color photograph (size 3.5 cm x 2.5 cm) in the space provided in the acknowledgment. The photograph should not be stapled or clipped to the acknowledgment. (The clarity of image on PAN card will depend on the quality and clarity of photograph affixed on the acknowledgment).
9. Signature / Left Thumb Impression should only be within the box provided in the acknowledgment. In case of applicants other than ‘Individuals’, the authorized signatory shall sign the acknowledgment and affix the appropriate seal or stamp. The signature should not be on photograph. If there is any mark on photograph such that it hinders the clear visibility of the face of the applicant, the application will not be accepted.
10. Thumb Impression should be attested by a Magistrate or a Notary Public or a Gazetted Officer, under official seal and stamp.
11. If communication Address is within India
- The fee for processing PAN application is Rs.94.00 (Rs.85.00 + 10.3% service tax).
- Payment can be made either by
- Demand Draft
- Credit Card / Debit Card
- If any of addresses i.e. office address or residential address is a foreign address, the payment can be made only by way of demand draft payable at Mumbai.
12. If communication Address is outside India
- The fee for processing PAN application is Rs.744.00[ (Application fee Rs.85.00 + Dispatch Charges Rs. 590.00) + 10.3% service tax].
- Payment can be made only by Demand Draft payable at Mumbai.
- At present the facility for dispatch of PAN cards outside India is available for a select list of countries. Applicants from other countries may contact NSDL at the contact details given in point (v) below.
This point is not applicable if applicant is providing the representative assesse details in the point no.14 of application form.
13. Demand draft and cheque should be drawn in favour of ‘NSDL – PAN’.
14. Demand draft shall be payable at Mumbai and the acknowledgment number should be mentioned on the reverse of the demand draft.
15. Applicants making payment by cheque shall deposit a local cheque (drawn on any bank) with any HDFC Bank branch across the country (except Dahej). The applicant shall mention NSDLPAN on the deposit slip. List of HDFC Bank Branches.
16. (Credit card / Debit card payment
Persons authorized to make Credit card / Debit card payment are as below:
- Category of Applicant Payment by Credit Card / Debit Card can be made by / for
- Individual self, immediate family members (parents, spouse, children)
- HUF Karta of the HUF
- Company Any Director of the Company
- Firm Any Partner of the Firm
- Association of Person(s) / Body of Individuals / Association of Person(s) Trust / Artificial Juridical Person / Local Authority Authorized Signatory covered under section 140 of Income Tax Act, 1961
- Applicants making credit card / debit card payment will be charged an additional surcharge of Rs.5.00 by the bank providing payment gateway facility.
- On successful credit card / debit card payment acknowledgment will be displayed. Applicant shall save and print the acknowledgment and send to NSDL as mentioned in point (q) & (r) below.
17. The acknowledgment duly signed, affixed with photograph (in case of ‘Individuals’) along with Demand Draft, if any, and proof of identity (name in the application should be same as in the proof of identity) & proof of address (Individuals, HUFs, Body of Individuals, Association of Persons & Artificial Juridical Person should provide proof of address of residence stated in the application) as specified in the application form is to be sent to NSDL at ‘Income Tax PAN Services Unit, National Securities Depository Limited, 3rd floor, Sapphire Chambers, Near Baner Telephone Exchange, Baner, Pune – 411045′.
18. Super scribe the envelope with ‘APPLICATION FOR PAN – Acknowledgment Number’ (e.g. ‘APPLICATION FOR PAN – 881010100000097′).
19. Your acknowledgment, Demand Draft, if any, and proofs, should reach NSDL within 15 days from the date of online application.
20. Applications received with demand draft or cheque as mode of payment shall be processed only on receipt of relevant proofs and realization of payment.
21. For more information
- Call TIN Call Centre at 020 – 27218080; Fax: 020 – 27218081
- e-mail us at: firstname.lastname@example.org mailto:email@example.com
- SMS NSDLPAN <space> Acknowledgment No. & send to 57575 to obtain application status.
- Write to: INCOME TAX PAN SERVICES UNIT (Managed by National Securities Depository Limited), 3rd floor, Sapphire Chambers, Near Baner Telephone Exchange, Baner, Pune – 411045
As a conclusion, it would be easier for everyone to apply an online PAN card application once they know its basic information. Well, to make it simple let us explain what a pan is once again: As the name suggests, PAN is a Permanent Account Number, and does not change in your lifetime. It remains the same irrespective of any change in your contact details etc. You can have only one PAN Card and you can apply for a duplicate one if you lose it. But even then your number remains the same. Moreover, it must be noted that, non-residents today can apply for a PAN Card and make the required payment online. It generally takes 20-30 days for a PAN Card to be made for non-residents. Please remember that if you DO NOT have a PAN, you are liable to pay a fine of Rs.10000 as per the Income Tax (IT) Department rules. Finally, you now also apply for a duplicate pan card in case you have lost your old pan. You can obtain a new pan card with the same old pan number. Also, while it’s true that only those who generate income out of India have to pay back to the Government in the form of taxes, it is advisable that non-residents too pay taxes. This shows the credibility of the client. Thus, it’s a must for all you non-residents to have a PAN. You may apply for a PAN through any PAN Assistance Brokers or your representative who could get a PAN Card made for you by visiting any such help center established by the IT Department. Hurry up now and apply for a new PAN Card!