Applying for a PAN is a simple. Read to understand how to apply for a PAN, its processing fees and what documents are needed
A PAN (Permanent Account Number) Card is used for many financial transactions. A ten-digit alphanumeric number, PAN Card is issued by the Income Tax Department in India. It is mandatory to quote PAN while filing our return of income. PAN is also used in transactions such as sale and purchase of immovable property or motor vehicle. It is also used for payments to hotels for bills or payments in cash, of amounts exceeding Rs. 25,000, in connection with travel to any foreign country. It is mandatory to mention PAN for obtaining a telephone or cellular telephone connection. Likewise, PAN has to be mentioned for making a time deposit exceeding Rs. 50,000 with a bank or post office.
Read to understand how to apply for a PAN, its processing fees and what documents are needed.
Applying for PAN
Applying for a PAN is a simple and convenient procedure. All you need to do is submit Application Form No. 49A. The PAN application can also be downloaded from the government website, UTI Investor Services website (the authorised agency to manage IT PAN service Centres in various cities) or from the website of National Securities Depository Ltd (NSDL). The Form 49A is also available at IT PAN Service Centres and TIN Facilitation Centres. Individuals not being a citizen of India can use the Form No. 49AA for applying a new PAN Card.
An individual needs a recent passport size coloured photograph to attach on the Form. He can submit ‘photocopy’ of any one of the following documents as his proof of identity: School leaving certificate, matriculation certificate, degree of a recognised educational institution, depository account, credit card, bank account, water bill, ration card, property tax assessment order, passport, voter identity card, drivers license, a certificate of identity signed by an MP, an MLA, a Municipal Councilor or a Gazetted Officer.
In case the PAN applicant is a minor, any of above documents of any of the parents or guardian of such minor shall serve as proof of identity.
You must mention the designation and code of the concerned Assessing Officer of the Income Tax department in Form 49A. You can get this from the IT PAN Service Centres mentioned in the websites listed above. Also, the application shall have to be accompanied by a proof of identity as well as a proof of residence.
The filled application form has to be submitted at your nearest IT PAN Service Centre or TIN Facilitation Centre along with the requisite fee. The location of such centres can be searched online on the government website.
Need to make changes in the existing PAN
An individual can request for changes, correction in PAN data or request for reprint of PAN Card (for an existing PAN) by downloading the application form from NSDL TIN website, Income Tax Department’s website or obtain the application form from nearest TIN Facilitation centre and submit the application form to the nearest TIN FC (List of TIN FCs available on aforementioned NSDL TIN website).
Processing fees for issuing PAN
The processing fees for issuing PAN Card are as follows:
- Rs. 96 if dispatch of PAN Card is in India.
- Rs. 962 if dispatch of PAN Card is outside India.
- (Both the above charges are inclusive of service tax.)