IT Pan Card

Pan Card is issued by the Income Tax Department in India. It is under the aegis of Central Board of Direct Taxes. PAN is an acronym for permanent account number it is a ten digit number that is alpha numerical in nature.

The number has become mandatory for major financial transactions and also serves as a photo identity. The former serves its purpose to keep tab on major financial transactions and discourage tax evasion in India. The alpha numerical formation is unique were each character is an acronym for status of the holder. Hence F stands for firm and P stands for person and so on.

After a successful application the number is issued on a laminated a card with persons photo and date of birth but no address is given.

Well in most instances the PAN number is mandatory, whether you like it or not. Second it works well as photo identification proof in India. This holds true for NRI wishing to conduct business in India or major financial transaction.

But contrary to general belief you can obtain this card even if your are not in a tax bracket. This also means you are not required to pay any tax if you are a holder of this card. You pay tax only if your income is taxable.

The number is also required for e-commerce transaction online. Sale or purchase of properties over five lakh require the number to be quoted in all necessary documentations.

The Pan Card is mandatory for NRI (non Resident Indian), OCI (Overseas Citizen of India). PIO (Person of Indian Origin) Foriegn Pssport Holders and International Companies. This is mandatory in case purchase of properties and participation in major transactions in India.

Online Application: The application form can be downloaded from the Income Tax Website. The Form 49 A has to be filled and submitted online. Once you have confirmed all the entries and pressed the submit button an acknowledgement number will be displayed. This is a unique fifteen digit acknowledgement number.

One who is already in possession of this number cannot apply again it is an offence. One can however apply to reedit the information if there is an error in it.

The document required are two photos taken with normal reel camera and not the digital version. One should only paste the image on given space but do not staple of pin the photo. ID proofs like the Aadhar Card issued by UIDAI or Driving license or Ration Card. For the address proof one can also use the electricity or telephone bill if it is in one's name.

Where to submit your application:

You could contact your IT Circle or submit applications at centers created in your city by UTIISL. In major cities there are more than one IT Pan centers.

One the application is submitted an applicant can check his status onlie. he can check his Pan Card status online at IT website. A web enabled tracking system is being created by by UTI-ISL. at the search tool one has to submit the acknowledgement number received at the time of applying for the permanent account number.