PAN Card
- Concept
- Who issues PAN card?
- Who can apply?
- Validity of PAN card
- Where PAN required?
- How to verify the PAN?
PAN Card
The benefits of PAN Card generation are as follows-
- Easily open your bank account: All banks and financial institutions mandatorily requires a PAN card as a valid id for an opening a current or savings bank account.
- No hurdle to any business transaction: As per the 2010 amendment to the Income Tax Act, 1961, the PAN card has been made mandatory by the government for all the companies.
- Claim your IT Refunds and Rebates: You might be entitled to a refund in case the amount of TDS exceeds the amount of income tax you are actually supposed to pay. You can get the refunds from IT department only if your TDS deduction linked to PAN and you duly file income tax return.
- TDS Rebate on saving deposits: If your annual earning of interest on your savings account exceeds INR 10,000/-, the TDS deduction will be only 10% in case you’re PAN card Holder, otherwise TDS deduction would be 20%.
- An opening of the demat account: PAN card is required for opening a dematerialized account also known as demat account, where all your shares and securities can be held in dematerialized or electronic format.
- Avail Loan Facility: Banks and Financial Institution do not provide any loan and credit facility unless you have valid PAN card.
- Buying & selling property: If you want to purchase or sell your immovable property which is worth more than INR 10 lakhs, you need to furnish your PAN card details.
Documents Requires For PAN Card
The documents needed to be regularly maintaines for fillig form
- Passport size Photograph
- Aadhar Card
Packages
- 10GB Storage
- 300 Downloads
- 100 Emails
- 15GB Bandwidth
- Support Forum
- Monthly Reports
- 10GB Storage
- 300 Downloads
- 100 Emails
- 15GB Bandwidth
- Support Forum
- Monthly Reports
- 10GB Storage
- 300 Downloads
- 100 Emails
- 15GB Bandwidth
- Support Forum
- Monthly Reports
Frequently Asked Questions
Q. What is a PAN?
The Permanent Account Number or PAN is the authentic alphanumeric code consisting of 10 characters alloted to the individuals, HUF and business-firms in India and abroad.
Who are mandatorily required to have PAN card?
People who are for the persons earning taxable income, i.e. they are required to pay Income Tax and file Income Tax Returns are mandatory to bear the PAN card.
What is the threshold limit for companies to obtain PAN card?
All business whose total sales, gross receipts and turnover exceed INR 5 Lakhs are mandatory to issue PAN card.
How much transaction compulsory need PAN card?
All transactions exceeding INR 50,000 can be done only through a PAN card.
What is the penalty for not obtaining PAN card?
The penalty of not having a PAN card if its mandatory amounts to INR 10,000 under Section 272B of Income Tax Act.
How to track the PAN Card status online?
- Visit the official NSDL link for tracking PAN Card status.
- Select Application Type- PAN New/Change Request.
- Enter your 15-digit ARN.
- Enter the captcha text and hit Submit button.
- Your PAN Card status will be displayed.
What are the documents required for PAN card application?
- Passport size Photograph
- Aadhar Card and
- Proof of Address
How to link PAN card with Aadhaar card?
For this, you first need to get registered on Income Tax e-filing portal. Once registered,
- Login at NSDL using the Username, Password and Date of Birth.
- Click on Link Aadhaar from Profile settings tab.
- Enter your necessary details.
- Enter captcha text and hit Link Aadhaar button.
Will you provide this service in my town?
Yes E-StartupIndia is an online platform serving all over India no matters wherever you are doing business all you need is internet connection on your mobile or desktop and we are ready to get your job done
Do I need to physically present for the process?
No, You don’t need to be physically present for the process, E-StartupIndia is an online catering platform all you need is an internet connection in your phone/computer and the required documents with you and we can get the job done no matters even if you are present at the remotest location of India
