Have you ever noticed a blue card that is neatly tucked away in your parents’ wallets? It has its Permanent Account Number that the Income Tax Department has issued them.
The time of the year is here when all you hear around the house and office are talks about filing returns and income tax. Did you know that unless you have a PAN, you cannot file yours IT returns? Did you know that you also must link to Aadhar according to government norms? So, a PAN Card? What do you think that is? That blur card that you have seen often enough in your parents’ wallets is known as the PAN Card. Check it out! What you’ll find on it is the name and photo of the cardholder in addition to his/her date of birth and an alphanumeric number, which is known as the PAN number.
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What is a PAN?
PAN or a Permanent Account Number is a code that the Department of Income Tax issues to all the citizens of India who are taxpayers. It has an alphanumeric code or a number that is different for every individual. The card number would be something like YTRHA7852J. This number is significant because the income tax department can monitor all the financial transactions of the cardholder by way of this number. It also assists the income tax department in being able to keep track of all the tax that has been paid or evaded by a specific person. A PAN card can also be issued to foreign nationals like investors.
What are the uses of PAN?
A PAN Card has countless uses. According to government norms, it is mandatory for a person to submit his/her PAN Card while getting a bank account opened. A person also needs PAN for receiving professional fees or taxable salary, when buying a car or a property that is worth above a certain limit, when making transactions of high value, etc. A PAN card is also needed when a person is selling or buying mutual funds or shares, is applying for a passport or a visa, applying for a loan with the bank and filing a tax return or making an income tax payment. The income tax department can be kept in the loop of the income, investment, property details and tax payment of a person only through his/her PAN. In addition to that, evading tax is illegal. Therefore, the uses of PAN are countless as it acts as a person’s identifier with the income tax department.
Where do we apply for PAN?
A PAN card application can easily be found at PAN Facilitation Centers that are located in towns and cities, wherever there are income tax offices. You can also apply for a PAN card online by filling in the Form 49A on the official websites of the NSDL and the income tax department.
How to check status for PAN?
You can easily track PAN card status by a lot of different ways. It usually takes about a fortnight for a person to receive the PAN card after applying for it either online or in person. The government has made it fairly easy these days for a person to track PAN card status, making sure the person is kept abreast of all the current happenings. It even provides a 15-digit acknowledgment number to all the candidates so that they can easily track their PAN Card application and its status. An applicant usually has the choice between three different modes of tracking his/her PAN Card application. They are:
- SMS Facility: There is a specialized SMS service that the applicants can use to track their PAN Card application status. You simply have to SMS NSDL PAN with your 15-digit acknowledgment number to the number 57575. You will then receive an SMS with the current status of your application.
- Telephone Call: You can also call the TIN Call Center in order to receive an update. You can reach them at 020-27218080, and you should keep your acknowledgment number handy for when they ask you for it.
- Online Tracking: You can also visit the official website of TIN-NSDL and track your application status online through your acknowledgment number.
In case of loss, how can we get a duplicate copy of our PAN?
In case you lose your PAN Card, you will need the original PAN card number so that you can apply for a new PAN Card. If you don’t remember the number, you can always visit the e-filing website and navigate to know it. Then, you simply need to apply for a duplicate PAN Card, either by doing it online or by visiting your nearest PAN center.
A PAN Card is an indispensable document if you are an Indian national who pays tax. Therefore, get your Permanent Account Number NOW!