Why is a PAN card necessary in India and How to apply for it?

by Vanshika S. SEO Executive

PAN, also known as Permanent Account Number, is a 10-digit unique alphanumeric number. It is assigned to every taxpayer in India. A few years ago, it was not mandatory for everyone. But presently, if you are a citizen of India, and if you have a savings account in any of the nationalized banks in India, you need to know the importance of a PAN card and must apply for one. It is also another identification document of a citizen living in India. The PAN number includes both alphabets and numbers, and it is unique. So, two people cannot have the same PAN number in India. In this way, it is easily decodable by the banks and the government.

Why is a PAN card necessary?

When you apply for a PAN card, you need to give all your detailed information. The government asked all the PAN card holders to link their PAN number with their AADHAAR number. Now, your AADHAAR card holds all your data like your biometric data, date of birth, place of birth, photo, address on PAN card, Parent’s name, etc. When you link the PAN with the AADHAAR number, the government has all the information recorded. Now all your transactions are under government scrutiny. If you don’t pay your tax on time, you may face the consequences for the same. The features of a PAN card make it unique, and you don’t need to make it again as it is valid for your lifetime.

How to apply for a PAN card?

You can apply for a PAN card in India in offline as well as online mode. Brokers like Alankit make it easy for you as they carry out all the hassles. You need to pay them a certain amount of money, and they will apply on your behalf in return. If you pay them some more money, they will even collect the PAN card on your behalf and give it to you. You can find out district-level PAN agencies for offline applications. They will help you fill the application, and the process will be smooth. These agencies will also help you make changes to your PAN card as sometimes wrong information gets printed on the PAN card.

But if you want to do it yourself, there are two websites available to make an online application. The websites are NSDL and UTIITSL. If you are an Indian citizen, NRI, Partnership firms, NGOs, Trusts, Local Bodies, etc., you need to fill up form 49A. If you are a foreigner or a foreign entity, you need to fill form 49AA to get a PAN card in India. The information may seem tricky, but there is no need to worry about making a PAN card, as the process is pretty straightforward. You need to fill and submit the required forms online. You also need to submit the supporting documents while applying for the PAN card.

Once you apply for the PAN card online and offline, the authority will provide you with an acknowledgement number. You can track the status of your PAN card with the acknowledgement number. Generally, it takes around 2 weeks to reach the PAN card to your doorstep.

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