All existing assesses or taxpayers or individuals who are required to file a return of income, even on behalf of others, must have a PAN.
New Delhi: Permanent Account Number (PAN) is a ten-digit alphanumeric identifier, issued by the Income Tax Department. Each assessee (e.g. individual, firm, company etc.) is issued a unique PAN. It is one of the most important financial documents. It is also furnished as identity and address proof.
All existing assesses or taxpayers or individuals who are required to file a return of income, even on behalf of others, must have a PAN. Any person, who intends to enter into economic or financial transactions where quoting PAN is mandatory, must also have a PAN.
It may be noted that obtaining or possessing more than one PAN is against the law and may attract a penalty up to Rs 10,000. Electronic PAN called e-PAN is just as valid as physical PAN as it is a digitally signed PAN card issued in electronic form.
Here’s how you can get you PAN in just 48 hours:
You can apply for a PAN card by filling in Form 49A or Form 49AA. The application can be made online through NSDL website www.tin-nsdl.com. You can get PAN application form from any NSDL TIN-Facilitation Centre (TIN-FC). This come can be downloaded free of cost as well from the NSDL website.
You need two recent colour photographs with white background (size 3.5 cm x 2.5 cm) which you have to affix in the space provided on the form. Make sure you have documents such as ID proof, address proof and proof of date of birth as it is required while submitting the application. These documents could include your birth certificate, driving license, Aadhaar card, passport, electricity bill and ration card. Apart from this, you must provide your mobile number and email address.
For online application, you must provide your digital signature as well. Ensure that all the details filled in your PAN card application are accurate and error free. Once done, submit the application online by paying the fee. When you are submitting the application, you will have the option to choose between physical card or e-PAN.
Once the form is successfully submitted, you will receive an acknowledgement with a unique 15-digit number. You can track down your status of PAN using this number. As soon as the details mentioned by you are verified, you will receive your PAN card in 2 days (48 hours).
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