Don’t you have a PAN card?
For what all purpose you are using the same?
Today, we are here before you to give some essential information regarding the importance of Permanent Account Number and how you can acquire it.
At Bharath, we provide services for collecting PAN card on behalf of you. And we also do the attestation services of the same. To know more about Indian PAN card services in Qatar please refer the given blog.
To carry out the basic financial operations in our nation, we need a permanent account number which is said to be a prime document. The before said transactions comprises opening a new bank account or even a debit card or credit card application.
A permanent account number is given to an individual, company or a Hindu undivided family(HUF). It is a ten digit unique number.
What is a PAN card?
A permanent account number is allotted to all taxpayers to uniquely identify them by the department of Income Tax in India. It holds a unique alphanumeric number and includes personal details such as the name of the holder, date of birth, a photo of the holder, and signature of the holder.
What are the procedures to obtain a PAN card?
From buying a real estate property to applying for a visa we need a PAN card. And many other applications forces us to enclose a copy of our PAN card with the same.
Have you ever wondered, why do we need that even while having other kinds of proofs for identity?
The department of Income-tax recognises one as a valid taxpayer only with an identification of a PAN card. Rather than a mere identity proof, it holds more power in such cases.
Do you know the difference between the PAN card and other valid proofs of identity?
Different kinds of identity proofs are issued to the citizens of India. And a PAN card is being issued to all kinds of taxpayers of our country including non-residents of India and to foreigners who wish to make some financial transactions in India. So that the citizenship does not matter. An important thing to be noted is while making transactions in India, a PAN card is necessary.
All other identity proofs are issued to human beings only. But a Permanent account number is issued to individuals and also artificial persons. So an entity like a company, partnership firm, Hindu undivided family are all eligible to apply for a PAN card in our nation.
Why PAN card is essential?
Nowadays, we can’t make any transactions without a PAN card. Even while opening a bank account, the bank will ask us for the same. Like any other identification number, Permanent account number will be the identity of an individual concerned with the income tax department.
Following are the circumstances in which a PAN card is supposed to be furnished :
- A PAN card is required when your salary becomes taxable to enable your employer to deduct the tax.
- While making purchase or sale of any article which exceeds Rs. 25000 or while making a deposit into a bank exceeding Rs.50000 in a single transaction.
- A PAN card is also required for various other activities like visa application to a foreign country, applying for LPG subsidy and other transactions done with our government as a proof of identity.
How much does it cost to obtain a PAN card?
Applying from India costs around Rs.107 including service tax. And if the applying from overseas it is Rs.994 including service tax.
What are the steps to apply for a PAN card?
- The application can be made through the official website of NSDL.
- Choose the type of application from the following :
• Resident individuals
• Non-resident individuals
• Foreign nationals
- Choose the category named individual.
- Furnish your personal details.
- Click submit to get a token number.
- Choose from the following:
• Submit digitally
• Submit scanned images
• Forward application
- Furnish your complete details
- Click next.
- Enter details such as your area code, assessing officer type, range code, number etc.
- Click next.
- Upload all necessary supporting documents.
- Pay the fees with an easy medium
How to track the status of PAN card?
By visiting the tracking portal of NSDL, one can track the details of the status of his/her PAN card.
Apply now for a PAN card and make your all transactions valid. If you require any help from our side, please feel free to contact us.