Brief Understanding:-
We are here to discuss how to Acquire Pan Card required in Income Tax matters, Identity proof or other matters as the case may be.
Actually Pan Card is nothing but a Government Identification that distinguishes each Individual Identity while presenting or dealing with Income Tax Issues. It confirms the Identification of individuals in their capacity whatsoever they are presenting themselves as an application to them.
Pan Card Meaning:-
PAN is abbreviated as Permanent Account Number is typically a ten-digit alphanumeric code. It is basically given by the Income Tax Department whosoever designated in the hierarchy. Once issued, it is validated online for the identification of the person who applied.
Features of Pan Card:-
The basic and foremost feature of the Pan Card is that it can be applied by the Foreign Nationals as well.
As per Section 139A of the Indian Income Tax Act, the allocation of the PAN card comes under the jurisdiction of the IT department with due supervision being provided by the Central Board for Direct Taxes.
How to Understand Pan Structure:-
As it is an alphanumeric digit, each character symbolizes. The first 5 digits are uppercase letters followed by 4 numbers and the tenth character is also a letter. The first three letters may be any combination of letters ranging from AAA to ZZZ.
Category of Pan Application:-
- Allotment of PAN through Form 49 A
First-time Applicants can use this form
- New PAN Card/Changes/Correction in PAN
If the person requires New pan card or required to change or amend Pan Card. Name. Date of birth (DOB), Name or printing errors or permanent address.
- PAN for foreigners through Form 49AA
Foreigners with an Indian VISA must check whether they have ever been allotted a PAN before filing Form 49AA, and this may be done through the official website of the Income Tax Department.
How to proceed to apply for Pan Card
The following procedure has to be followed by the Applicant that is:-
- The applicant has to visit UTIISL or TINNSDL website.
- Then go to the option displayed as a New PAN option.
- Form 49A, if u go normally for a Pan Card then choose this option. Then apply on the form 49AA.
- Fill the required details as mandated by prescribed Form
- Click on Submission after carefully read.
- Make Payment of the applicable Pan card fees.
- Then make a note of 15-digit acknowledgment number and keep the relevant printout.
- Documents can be sent by authenticating by KYC or maybe send through physically.