How to apply for Pan Card in India
Every tax payer who is required to furnish Income Tax Returns should have a PAN card. A PAN card is a Permanent Account Number with a ten digit alphanumeric number issued by Income Tax Department in a laminated form called PAN card. Those who intend to enter into financial transactions, where quoting of PAN is compulsory and must obtain PAN card. Now a days getting a Pan card became very simple process with brokers.
Every individual cannot have multiple PAN cards for same person or company since it is against the law. An applicant can apply for a duplicate, also known as a replacement of pan card if he had lost or misplaced his old pan card. He is also eligible to get a duplicate permanent account number card if his old pan card has deteriorated & need to be changed. There are other cases as well where the Income Tax Department of India would issue you a duplicate pan card.
It is not mandatory that to file tax. Filing taxes is different from paying taxes. Though PAN card number these days is mandatory for a lot of finance and investment related transactions, but it does not mean that you have to pay tax if you have a PAN. Basically, you pay tax in India only if you generate or accrue income in India. However it is advised that even though you don’t make any money or income in/from India, you still file ‘NILL’ returns. This basically enhances your credit rating and help you get various types of loans from India.
The following are the guidelines for applying for Pan Card:
1.To apply for a pan card you need to fill up Form 49A. There are many online facility is also available to apply for PAN online. Go to the official websites of Income department / UTI Investor Services Ltd / National Securities Depository Limited and download the PAN application (Form 49A).
2. Application form should be completed 49A and submitted at IT PAN Service Centre or TIN Facilitation Centre with Rs 65. These centers will apply and receive PAN applications on behalf of assessing officers, assist PAN applicants to fill up the applications correctly, check documents of identity and address proof submitted
3. For application of pan card individual applicants need to affix one recent, coloured photograph of Stamp Size on Form 49A.
4. Pan card application requires proof of identity like matriculation certificate or degree of a recognized educational institution or depository account or credit card or bank account or water bill or ration card or property tax assessment order or passport or voter identity card or driving license or certificate of identity signed by a MP or an MLA or a Municipal Councilor or a Gazetted Officer.
5. Address Proof is mandatory to obtain a pan card like copy of electricity bill or telephone bill. PIN number should be mentioned along with address in PAN application form. Otherwise the PAN application form would be rejected.
6. After applying for PAN card the applicant has no other work to do only after he receives the PAN card check out for any errors in the PAN card data will be attended within ten days and if necessary new PAN card will be issued. If any changes to be made to the PAN card regarding any personal data or change of address will be processed within 30 days of time from the date of receipt of application.