Pan Card

Example PAN: ABCPP1234F

• First 3 characters (ABC): Alphabetic series

• 4th character (P): Status of cardholder

• P = Individual
• C = Company
• F = Firm/LLP
• H = Hindu Undivided Family (HUF)

• 5th character (P): First letter of last name (individual) or first letter of name (non-individual)

• Next 4 characters (1234): Sequential numbers

• 10th character (F): Alphabetic check digit

• Individuals, companies, NRIs, or foreign citizens with income or investments in India.

PAN acts as an identity for all financial and tax-related activities:

• Filing income tax returns
• Paying taxes and getting refunds
• Communication with Income Tax Department

Mandatory circumstances to have PAN:

• Income exceeding Rs. 2,50,000 per year
• TDS deductions
• Business/Professional gross receipts over Rs. 5 lakhs per year
• Importers/exporters
• Charitable trusts under Section 139(4A)
• Certain specified financial transactions

Other mandatory transactions requiring PAN:

• Opening accounts: Bank, DEMAT
• Applying for: Credit/Debit card
• Payments: Life insurance, mutual funds, bonds over Rs. 50,000
• Sale/purchase: Property above Rs. 10 lakh, shares above Rs. 1 lakh, vehicles, goods/services above Rs. 2 lakh
• Time deposits: Over Rs. 50,000/day or Rs. 5 lakh/year
• Cash payments: Hotels, travel abroad, foreign currency above Rs. 50,000/day

For Non-Residents:

• Similar financial transactions including credit cards, cash payments, travel abroad, and high-value purchases require PAN.

Proof of Identity (POI): Aadhaar, Passport, Voter ID, Driving License, Ration Card with photo, Pensioner Card, Government ID, etc.

Proof of Address (POA): Aadhaar, Passport, Driving License, Utility Bills, Bank/Depository statements, Employer Certificate

Proof of Date of Birth (DOB): Birth Certificate, Passport, Matriculation Certificate, Pension order, Marriage Certificate, Driving License, Domicile certificate, Affidavit

How to Apply for PAN

Online:

• Via NSDL or UTIITSL websites
• Fill Form 49A (Indian citizens) or 49AA (foreign citizens)
• Pay fee online
• Send required documents by courier
• PAN issued in ~15 days

Offline:

• Fill Form 49A / 49AA
• Attach documents
• Pay fee via demand draft/cash
• Submit at authorized PAN center
• Receive acknowledgment number

Instant PAN Facility:

• PAN can now be generated instantly using Aadhaar number.

Online via NSDL (Protean):

• Visit NSDL Portal → PAN → Apply for Change/Correction
• Fill personal details, select category, submit Captcha
• Upload documents, e-Sign, make payment
• Send acknowledgment + documents to NSDL office

Online via UTIITSL:

• Visit UTIITSL website → PAN Card Services → Change/Correction
• Submit PAN, fill details, upload documents, submit, pay fee
• Receive acknowledgment; updated PAN dispatched in ~15 days

Offline:

• Download PAN correction form
• Fill and attach documents
• Submit at nearest NSDL/UTI PAN center with fee
• Receive 15-digit acknowledgment number

• Failure to obtain PAN when required
• Quoting incorrect PAN
• Providing wrong PAN to TDS/TCS deductor
• Obtaining multiple PANs