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PAN

Permanent Account Number – Types, and Purpose of PAN

In this article, we discuss what is a permanent account number, how to apply for one and all other regulatory provisions regarding PAN.

What is a Permanent Account Number (PAN)?

PAN stands for Permanent Account Number. It is a ten-digit alphanumeric number allotted to any citizen who is eligible to be taxed within the sovereign borders of India.

The primary purpose of this code is to create a unique ID for all assessees so that when they file their IT returns, they can be identified through this code. After Aadhaar Card, a PAN card is usually the most accepted ID proof.

The provisions for PAN are covered under Section 139 of the Income Tax Act. This code number additionally helps the department monitor all financial transactions undertaken for tax purposes. As a result, having a Permanent Account Number is crucial in case individuals want to file their tax returns, apply for a loan or avail employment benefits. 

However, since even foreign nationals and companies can obtain a PAN card, it does not serve as proof of Indian citizenship. Moreover, it does serve as a proof of identity and is one of the most importantly ca know details of Permanent Account Number through the income tax website. However, in this article, we will take a look at how you can know more about your Permanent Account Number card through the IT website. 

  • How to know the details of your PAN Card through Income Tax Website
  • How to track your PAN Card status
  • What is the Need for owning a PAN Card in India?
  • PAN Card Application 
  • Documents Required for PAN Card Application
  • Things to Keep In Mind Regarding PAN Card Application
  • PAN Card Forms

Types of Permanent Account Number

PAN cards are tailored to different tax-paying entities, and they are categorized as follows:

  1. Permanent Account Number for Individual Indians

   – PAN cards issued to individual Indian taxpayers include essential details such as the person’s photograph, name, father’s name, date of birth, signature, authenticity hologram, QR Code, date of PAN issuance, and the Permanent Account Number.

  1. Permanent Account Number for Indian Companies

   – PAN cards issued to Indian companies contain details such as the company’s name, date of registration, PAN number, hologram, QR Code, and the date of PAN issuance. Unlike individual PAN cards, those issued to companies do not feature a photograph or signature.

  1. Permanent Account Number for Foriegn Citizens

   – Foreign citizens who are required to obtain a PAN card for tax purposes are issued cards with relevant details similar to those on cards for Indian individuals.

  1. Permanent Account Number for Foriegn Companies

   – Similarly, PAN cards issued to foreign companies include information such as the company’s name, date of registration, PAN number, hologram, QR Code, and date of PAN issuance. These cards also do not feature a photograph or signature.

These variations in PAN cards cater to the diverse needs of different entities, ensuring accurate documentation for taxation purposes.

What is the Purpose of a PAN Card?

  1. Permanent Account Number is compulsory for every individual who is required to file their tax returns and make annual tax payments.
  2. It is mandatory to register a business or start a new company.
  3. Certain transactions above a prescribed threshold have to be executed by putting the PAN details of all involved parties on record. above a predetermined value requires PAN details to process.
  4. The sale and transfer of vehicles and their registration require a Permanent Account Number.
  5. Property transfers and registrations require the Permanent Account Number details of both the buyer and seller.
  6. Also, it serves as alternate ID proof for citizens.
  7. Permanent Account Number helps users set up internet, phone, and gas connections for their homes. It also enables them to keep track of their tax payments.

Here’s a quick look at the other financial transactions that require a PAN card.

  • Fund transfer from an NRE to NRO account
  • Global money remittance 
  • Purchase of an insurance policy worth over INR 50,000 
  • Acquisition of shares worth over INR 50,000 
  • Transfer of immovable property worth over INR 5 lakhs 
  • Any hotel or restaurant bill worth over INR 25,000  
  • Purchase of mutual funds
  • Making bank deposits worth over INR 50,000 

Documents Required for a PAN Card

Individuals need to submit the supporting documents along with Form 49A to complete their PAN Card application.

  • Proof of Identity
  • Proof of Address
  • Birth Certificate

Information Contained in a PAN Card

The Permanent Account Number structure is intricately designed in a 10-character alphanumeric format, each character serving a distinct purpose. Here’s a breakdown of the PAN Card structure:

  1. First Five Characters:

   – The initial five characters are always uppercase letters, for example, ‘AAA XX123 4B’.

  1. First Three Characters:

   – These first three characters create an alphabetic sequence and are utilized for geographical categorization.

  1. Fourth Character:

   – This character plays a crucial role in identifying the cardholder type. It signifies whether the PAN card belongs to an individual or a specific entity, with values representing different entities such as Association of persons (AOP), Body of Individuals (BOI), Company, Firm, Government, HUF (Hindu Undivided Family), Local Authority, Artificial Juridical Person, Individual or Person, and Trust (AOP).

  1. Fifth Character:

   – The fifth character serves varied purposes based on the cardholder type. In the case of a “Personal” PAN card (where the fourth character is ‘P’), it typically represents the person’s surname or last name. For other entities, it may denote the name of the trust, society, entity, or organization.

  1. Tenth (Final) Character:

   – The tenth and final character is an alphabetic digit used for validation. It is computed using a specific algorithm based on the preceding characters to ensure the accuracy and validity of the PAN.

PAN Card Application Process

Follow the steps outlined below to successfully apply for a Permanent Account Number via NSDL:

  1. Visit NSDL:

   – Initiate the process by accessing the official NSDL website.

  1. Select Application Type:

   – Choose the type of application you wish to proceed with.

  1. Choose Your Category:

   – Indicate your category based on your eligibility.

  1. Provide Required Information:

   – Enter essential details, including your name, date of birth, email ID, and mobile number.

  1. Agree to Terms and Conditions:

   – Consent to the terms and conditions presented during the application process.

  1. Enter Captcha Code:

   – Input the provided Captcha Code and click on the ‘Submit’ button.

  1. Receive Acknowledgement Number:

   – After submission, you’ll receive an acknowledgement number on a new page.

  1. Enter Additional Details:

   – Input the relevant details on the subsequent page.

  1. Upload Documents and Make Payment:

   – Upload the necessary documents and complete the payment to finalize your Permanent Account Number application.

By following these steps, you can successfully apply for a PAN card through the NSDL platform.

Steps to Follow for Duplicate PAN Card

If you’ve misplaced your original PAN Card, the process to obtain a duplicate PAN Card involves the following steps:

  1. Visit the TIN-Protean e-Gov Technologies Limited (formerly NSDL) or UTIITSL Website:

   – Access the official website of TIN-Protean e-Gov Technologies Limited or UTIITSL to initiate the duplicate PAN Card application.

  1. Select the Appropriate Form:

   – Choose Form 49A if you’re an Indian citizen or Form 49AA if you’re a foreign national.

  1. Complete the Payment:

   – Make the necessary payment for the duplicate PAN Card application. Payment can be done online or through a demand draft.

  1. Print and Send the Form:

   – Print a copy of the completed form and send it to the specified address:

Income Tax PAN Services Unit, Protean e-Gov Technologies Limited e-Governance Infrastructure Limited, 5th Floor, Mantri Sterling, Plot No. 341, Survey No. 997/8, Model Colony, Near Deep Bungalow Chowk, Pune – 411 016.

   – Allow up to 45 days for the processing of your duplicate PAN Card application.

Uses of PAN Card in Financial Transactions

The application of PAN is essential in various financial transactions and legal obligations. Here are some instances where PAN is required:

  1. Quoting PAN for Direct Tax Payments:

   – PAN is mandatory when making payments for direct taxes, ensuring accurate identification of taxpayers.

  1. PAN Requirement for Income Tax Payments:

   – Individuals are required to provide their PAN details when fulfilling income tax obligations, ensuring proper documentation and identification.

  1. Incorporating PAN Details in Business Registration:

   – PAN information is a prerequisite when registering a business entity, facilitating proper record-keeping and regulatory compliance.

  1. Financial Transactions Requiring PAN:

   – PAN information is imperative in a multitude of financial dealings, ensuring transparency and accountability.

How to Track Your Permanent Account Number Card status?

After applying, it typically takes around fifteen to twenty days to receive the PAN card. Users can check their PAN card status during this period using their 15-digit acknowledgement number. Here’s a quick look at how you can track your Permanent Account Number status.

Tracking Permanent Account Number Status via SMS 

    • To track your PAN status via SMS, send the following text to the number 57575
    • NSDLPAN<< 15-digit acknowledgement number>>
    • Once the server receives this text, you will get a reply via SMS indicating the current status of your Permanent Account Number (PAN Card).

Tracking Permanent Account Number Status via Call

    • To track your PAN Card status via call, users should call a TIN call centre on the following toll-free number-020-27218080
    • You must provide the operative with your 15-digit acknowledgment number to verify your application.
    • The executive will then update you regarding the status of your PAN application.

Tracking Permanent Account Number Status Online

The easiest way to track your PAN Card status is through the TIN-NSDL website. Here’s a quick look at how users can track the status of their PAN (Permanent Account Number) through the income tax website:

    • Go to the official TIN-NSDL website using this link.
    • From the homepage, go to the Guided Tour tab and click on the Status Track option.
    • A new page will open up, and users should now click on the Track Status of PAN online option.
    • From the drop-down menu, select your application type as PAN-New/Change Request.
    • Next, users should enter their 15-digit acknowledgment number to proceed.
    • To finish the verification process, enter the CAPTCHA code in the appropriate field and click on Submit.
    • The screen will now display the status of your PAN Card application. 

Make sure you check the status of your PAN application only after five days from receiving the acknowledgment number. Users may also check their PAN transaction status if they paid the registration fees using a debit or credit card. To check your Permanent Account Number (PAN) status, you must have the following details.

  • 15-digit Acknowledgment number if you applied through NSDL
  • Coupon number if you applied through UTI

Finding PAN Card Details Online

Know Your PAN Number By Using Your Name And DOB

Recently, the Income Tax Department unveiled a new feature that allows cardholders to check their Permanent Account Number details by using their name and date of birth. So users can verify the details of their PAN card by providing the server with their full name and date of birth. Here’s what users need to do to verify their PAN details using just their name and date of birth.

  1. First and foremost, users should go to the official website for IT e-filing through this link.
  2. From the homepage, users should go to the Quick Links tab. Also, click on the Verify
  3. In the window that shows up, enter your full name, PAN number, and DoB to proceed.
  4. Next, users must select the appropriate status of their PAN card, from amongst Individual, HUF, Association, Company, Government, Body, Judicial Person, Local Authority and Trust options.
  5. To complete the verification process, enter the CAPTCHA code in the appropriate box.
  6. Click on the Submit option to proceed further.
  7. Once the details you entered are correct, a new page will pop up that shows the following message: PAN is Active, and the provided details match.

In case the details do not match, the following message will pop up on the screen: In the past, the IT Department had a ‘Know your Permanent Account Number’ service. However, they discontinued it and replaced it with the Verify your PAN Details option. Therefore, the steps given above will help you make use of this service to ensure the details on your PAN card are correct.

Know PAN Card Details Through Income Tax Website

If you wish to verify your Permanent Account Number details through the IT website here’s what you need to do.

  1. Visit the official IT website using this link.
  2. If you do not have an account, click on the Register Yourself option and complete the registration process.
  3. In case you already have an account with the IT Department, click on the Registered User option.
  4. Choose the appropriate user type from the options given and click on Continue.
  5. Next, provide all the relevant details and click on Submit.
  6. You will now receive an email with an activation link to verify your account. Go to your registered email ID and activate your account by clicking on this link.
  7. Next, users should log into their accounts using their credentials.
  8. From the homepage, go to Profile Settings and click on the My Account option.
  9. Next, click on Permanent Account Number details to view the following information as printed on your PAN card.
    • PAN number
    • Name 
    • Date of Birth
    • Gender
    • Status
    • Address 
    • Contact details

Conclusion

Even though the process of applying for a PAN card may be simple there are certain details in form 49A which are technical questions that might confuse the applicant. And as mentioned above, any mistakes in the form can cause unnecessary delays and additional costs.

So it is always better to go through an experienced agency or company that not only understands the process but also knows the ground realities of the process and how to handle them. If you have any more queries regarding Permanent Account Number or would like help in applying for a PAN card, contact our team at Zolvit and they will make sure that all your queries and requirements are taken care of.

FAQ

What is the permanent account number ?

The Permanent Account Number (PAN) is a unique alphanumeric identifier assigned to individuals, entities, or businesses for various financial transactions. It is issued by the Income Tax Department in India.

How can I check my PAN holder details?

You can check your PAN holder details by visiting the Income Tax Department's e-filing website and clicking on the 'Know Your PAN' option. You will need to enter your name, date of birth, and registered mobile number to retrieve your PAN details.

Can we find bank accounts using PAN number?

No, PAN number alone does not provide information about specific bank accounts. PAN is primarily used for taxation purposes, and bank account details are not publicly accessible using PAN.

Is PAN card number and account number same?

No, PAN card number and account number are not the same. PAN is a unique identifier for taxation, while the account number is specific to a particular bank account and is used for banking transactions.

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