How to apply pan card
Permanent Account Number (PAN) is unique to each individual and acts as a code of identification of Indians, especially those who pay income tax. It is a 10-characters alpha-numeric identifier issued to all judicial entities identifiable under the Indian Income Tax Act of 1961. It also serves as an important proof of identification and is issued by the Indian Income Tax Department. The PAN is a must for a majority of financial transactions such as opening a bank account, receiving taxable salary or professional fees, sale or purchase of goods above specified limits etc.
Benefits of PAN Card
*all taxes problem can be solved by PAN
*required as bank documents
*TDS can be claimed
*PAN is mandatory when cash payment exceed 50k
*it is required while applying for credit card
Why PAN Card required
It is also issued to foreign nationals unlike Aadhaar Card and Driving License and hence, it is not an acceptable proof of Indian citizenship. Due to its significance more and more people are getting PAN Card made and it is mandatory of tax payers and to get income tax returns. It is valid for the life time but it is issued only once. However, duplicate PAN card can be procured in the case of loss and damage.
Documents required for applying the PAN Card
Proof of ID
2.votar I’d card
3. Driving license
Proof of address documents
3. House proof
Proof of date of birth
How to apply pan
Applying for PAN Card is quite easy and hassle-free and can be done online. One has to pay Rs. 105 if the communication address is in India and Rs. 971 if the communication address is outside India. Payment can be done via both online and offline modes. Documents of proof of address, proof of identity and date of birth are necessary while applying for PAN Card. One can apply at both NSDL and UTI online portals for PAN Card.