PAN (Permanent Account Number) is an Indian Code Number, which is an identity of people who pay TAX in India. Those who also give tax to the government are given by this number, which shows which person has given the tax to the government. It is the alpha-numeric number of 10 characters, such as ABCDE00000. This PAN is called PAN Card in the card of the person who is written. PAN Card to Income Tax Department.
When and what are pan card items required?
- PAN is essential when you sell any real estate or commodity.
- You need PAN when you buy a car.
- When you go for a large Transaction or Draft in Banks, you need PAN.
- When you open an account to invest in your Demat Account, the stock market, you need PAN.
- If any person in the bank wants to deposit Rs. 50000 or more, it is mandatory to give his PAN.
- If you want to apply for Credit Card, you also need PAN.
- You can also present the PAN Card as your ID Proof.
What are the benefits of PAN Card?
- PAN Card contains your photo, signature, date of birth, and name, so it is used as an ID Proof in a complete manner.
- Without PAN, you will take the highest percentage of government tax, but when you have PAN Number, you have to pay TDS (tax deducted at source), which is later returned when you file the TAX Return.
- You can get a copy of it even if your PAN turns around.
How to Apply for PAN?
Income Tax Department provides PAN Number or PAN Card. Today, you can apply pan online and apply the Form through a letter by filling it with your hand. But now, from 2017, you can get your PAN in a few minutes with the help of your Aadhaar card of e-KYC. Also, Online can correct the mistakes in your PAN card. If you want to Apply Online, you need to upload a scanned copy of documents for proof. If you want to apply offline, you have to attach a xerox copy of proof documents with the PAN Application Form.
How to make changes in PAN Card?
All information in PAN is very important to be correct. Now, the government has also provided online facilities to change and improve pan information. For that also you can apply by going to the link below.
Link to the application: https://www.onlineservices.nsdl.com/paam/endUserRegisterContact.html
Image credit: wealthguruji