PAN stands for Permanent account number and is 10 digit alphanumeric number which is allotted by the Income Tax department. Historically, PAN was mandatory only for people who were filing income tax returns but after demonetisation PAN has been made mandatory for most financial activities for ex: opening a bank account. Infact, it is mandatory now to link your Bank Account to your PAN otherwise Government will have full authority to close down your Bank Account.
Like Aadhar, it is important for everyone to also have PAN Card as it has multiple usage where other cards can’t be used – Investing in mutual funds or shares for ex. You don’t need to contact anyone to get a PAN Card, it’s a very simple online process which can be completed by yourself. Online application of PAN can be made on following websites –
a) NSDL Website
Both of these agencies have been authorized by the government of India to issue the PAN or to make changes/corrections in the PAN on behalf of the Income Tax Department. The PAN applicant is required only to fill and submit the online application form along with online payment of the respective processing fee. Copies of required documents can then be sent by post to either NSDL or UTIITSL, for verification purposes. We at Fino prefer applying PAN via NSDL as it is a more straight forward and seamless process.
Following are the steps to apply for PAN Online:
Step 1 : Submit the PAN card application available on the NSDL Website
Step 2 : Fill all the details
Fill all the details in the form. Read the detailed instructions before furnishing the details in the form. https://tin.tin.nsdl.com/pan/Instructions49A.html#instruct_form49A
Step 3: Mode of Payment
The charges for applying for PAN is Rs. 107 (including service tax) for Indian communication address and Rs. 994 (including service tax) for foreign communication address. Payment of application fee can be made through credit/debit card, demand draft or net-banking. On successful payment, acknowledgement will be displayed. Save this acknowledgement number.
Step 4 : Documents to be sent to NSDL
Once the application and payment is accepted, the applicant is required to send the supporting documents through courier/post to NSDL. Only after the receipt of the documents, PAN application would be processed by NSDL. Documents include one proof of identity, one proof of address and one proof of date of birth. Click here to know complete list of documents.
In case you already have a PAN and want to make changes in it.
If you already have a PAN Card and just want to make changes in it, you can again apply for it completely online. The procedure is exactly the same as you apply for new PAN except in case of change of details in PAN, you also need to submit the documents to support the change required in PAN.
Follow Steps 1 to 3 as mentioned above and read the following instructions for filling the form. Please note that the charges for making the change in PAN is exactly the same as for issuing a new PAN. You can make this payment online itself.
Now like in Step 4 – you have to send the documents again to NSDL.
Only after the receipt of the documents, PAN application would be processed by NSDL. Documents sent should support the changes applied for in PAN for e.g. Request for change in applicant’s or father’s name will have to be supported with such proof that will contain proof of change of name from the old to the new in addition to the proof of identity. The documents that shall be accepted as proof in this case are:
- For married ladies – change of name on account of marriage – marriage certificate, marriage invitation card, publication of ‘name-change’ in gazette, a certificate from a gazetted officer stating name change, copy of passport showing husband’s name.
- For individual applicants other than married ladies – publication of `name-change’ in gazette, a certificate from a gazetted officer stating name change.
For more details ,Refer Instructions for Change in PAN