Where Is PAN Card Used?

What is Pan card validity?

The PAN is valid for lifetime..

WHAT IS FULL NAME IN PAN card?

Permanent Account NumberHowever, on the PAN card, your name will appear in the sequence of ‘First name Surname’. The Permanent Account Number (PAN) card is an important document for conducting even the most simplest of financial transactions like opening a savings bank account, applying for a debit/credit card and so on.

What is PAN card and uses?

1. A PAN card helps the Income-tax Authority in keeping a track of all financial transactions that may be essential in assessing an individual or companies tax liability, it helps in reducing the chances of tax evasion. … The PAN number is unique to every entity who holds a PAN card.

Can someone use my PAN card?

Unfortunately, you may get to know of the illegal use of your PAN number only six months after the transaction. … The Income Tax Department will require the PAN card-holder to prove that the transaction was not carried out by them, and also give details on their source of funds.

Where is PAN card number written?

PAN is a ten-digit unique alphanumeric number issued by the Income Tax Department. PAN is issued in the form of a laminated plastic card (commonly known as PAN card). Last character, i.e., the tenth character is an alphabetic check digit. Thus, option (c) is the correct option.

What information can be obtained from PAN card?

These transactions include tax payments, tax deducted at source/tax collected at source credits, returns of income/wealth/gift, specified transactions, correspondence and so on. PAN, thus, acts as a unique identifier of persons for the tax department.

What is Pan card ID number?

From Wikipedia, the free encyclopedia. A permanent account number (PAN) is a ten-character alphanumeric identifier, issued in the form of a laminated “PAN card”, by the Indian Income Tax Department, to any “person” who applies for it or to whom the department allots the number without an application.

What is the fee for PAN card?

Rs. 93The charges for applying for PAN is Rs. 93 (Excluding Goods and Services tax​) for Indian communication address and Rs. 864 (Excluding Goods and Services tax) for foreign communication address. Payment of application fee can be made through credit/debit card, demand draft or net-banking.

Who is eligible for PAN card in India?

Students can apply for a PAN card as long as they are above 18 years of age. In case you are a minor (younger than 18 years old), your parents can apply for the PAN card on your behalf. There is no maximum age limit for application of PAN card. You can be of any age and still apply for a PAN card.

How do you identify a pan?

The fourth character represents the status of the PAN holder. C stands for Company, P for Person, H for HUF (Hindu Undivided Family), F for Firm, A for Association of Persons (AOP), T for AOP (Trust), B for Body of Individuals (BOI), L for Local Authority, J for Artificial Juridical Person and G for Government.

What is the difference between e PAN card and normal PAN card?

According to the department, e-PAN is a PAN card with a digital signature and is issued in an electronic format. One can get an e-PAN by using Aadhaar e-KYC. … This number is generated once the online PAN application is successfully submitted. This number can also be used to keep a tab on e-Filing Portal.

Is PAN card number confidential?

Well a PAN number is associated to the person who it is issued for all the fiancial transactions done by that person. Confidentiality of PAN is important since noone should quote your PAN for any of his financial transactions which may result in a scrutiny by the income tax department authorities.

Do we need PAN card to deposit money?

Importance of PAN card Quoting of PAN is also required for setting up a time deposit – or fixed deposit – exceeding ₹ 50,000 with a financial institution. Also, a cash deposit exceeding ₹ 50,000 in a post office savings account requires PAN, according to the taxman.

Where can I collect PAN card?

If by chance the PAN card applicant is not available on delivery, he/she can collect their PAN from the area post office. The PAN card will be granted to the PAN card applicant once he/she provides the KYC documents as proof of identity.

What is Aadhaar card?

Aadhaar is a 12 digit individual identification number issued by the Unique Identification Authority of India on behalf of the Government of India. The number serves as a proof of identity and address, anywhere in India.