PAN or Permanent Account number is the unit 10 digit alphanumeric and identity which is allotted to each and every tax payer. The PAN card will be issued by the Income Tax Department under the supervision of the Central Board of Direct taxes. One of the important use of the pan card is that it will act as proof identity. For the financial transaction, the pan card is very important so that it will be helpful when you received taxable salary or any other professional fee, salary or purchase anything under the specified limit. One of the main objectives of PAN card is to use the universal identity to track the financial transactions. The PAN card number remains unaffected even if you change your address throughout India.
Who Must Apply for PAN card
PAN card is essentially needed for people who would receive a taxable income within India. It also includes foreign nationals who paid taxes. Even if people anybody who runs the business or any retail services should have the PAN card if they have total sales are the turnover is more than Rs 5 lacs. So this kind of people must have PAN card with them so that it will be helpful for them as an identity and even as save tax payment.
How To Apply For Pancard
The process of applying for PAN card is very easy, and it will take hardly few hours to apply for the PAN card. You can find more details about the PAN card application inincometaxindia.gov.in. Since this is an official website and you will find a form 49A form 49AA.
- In the official website, you will find the application form.
- You can find the location of the PAN card office in any city with the help of the website of Income Tax Department of national security Depository Limited.
- You need to have a copy of proof of your identity and address proof.
- You should also have a payment which is made by cash, cheque or demand draft.
- It is very easy to apply for the PAN card through online website of the IT Department or NSDL.
- Ok, see you apply for the PAN card through the online process then the processing fees can be paid via net banking, credit card or debit card.
- After this is computed, you can track the status of your application through online.
Use of Pancard
They are many uses of PAN card which are explained here,
- For payment of taxes directly.
- In order to file income tax returns.
- In order to avoid deduction of taxes at Higher rates that due.
- In some cases like specific transaction such as,
(a) Sale or purchase of any immovable property which has a value more than Rs 5 lacs.
(b) If you buy or sell any vehicle other than a two wheeler.
(c) In the case of payment to hotels or restaurants If the amount exceeds more than that of Rs 25000 at a time.
(d) If you pay in cash with amount more than Rs 25000 in connection with travel to any foreign countries.
- Payment of an amount of Rs 50,000 or more to the Reserve Bank of India for acquiring bonds
- Payment of an amount of Rs 50,000 or more to a company or an institution for acquiring bonds or debentures
- Payment of an amount of Rs 50,000 or more to a company for acquiring shares
- Any mutual fund purchase
- Deposit is exceeding Rs 50,000 with any single banking institution in 24 hours.
- Payment exceeding Rs 5 lakh for purchase of bullion and jewelry
How to Check Pan Card Status
PAN card status UTI is the facility through which you can check for the PAN card status through online. By using the pan card status online services, you can get to know the delivery status of your pan card. Once after you apply for the PAN card, then the applicant can check the status of a very easily. The applicant can check for their bank card only after 5 days from the date of 15 digits numbered acknowledgment receipt or 10 digits from UTI coupons has been generated. After this only the individuals can check for that status of the PAN card. And it is very easy to get the current status of the PAN card application process.
Check NSDL PAN Card Status:
For this, you just need to visit the NSDL official website.
And, Here’s the Information to Fill in this form If you don’t know much about it.
- Application Type: PAN – New / Change Request
- Acknowledgment Number: Your Acknowledgment Number or you can fill Name Instead.
- NAME: Your Full Name as arrangement given.
- Date of Birth: Date of Birth/Incorporation/Agreement/Trust/Formation/Association in DD/MM/YYY
- After filling the information, You should click on Submit button.
- And finally you will get the complete status of the NSDL PAN card
Check UTI PAN Card Status:
The information to be entered in the Form is,
- Application Coupon Number: The coupon number of the application is very important in order to check the status of the UTI PAN card. The coupon number will be available when you apply for the PAN card. After entering the PAN card application coupon number then you need to click on submit so that you will get the current status.
- This process is also known as Pan Card tracking in which you can repeat this process level in order to track your pan card location. Within 2 minutes you will get the complete information about your track status of your pan card.