How to Apply for PAN Card Online
A PAN Card or permanent account number is an essential
document for every taxpaying Indian. It is a specific 10-digit number identity
allotted to people by the Income Tax Department under the guidance of the
Central Board of Direct Taxes. It is used to track financial transactions and
assess the tax liability of eligible candidates. Also, it works as an identity
proof and is used to carry out financial transactions, such as mutual fund
investments, purchase or sale of assets above specific limits, and more.
Importance
of a PAN Card
Having a PAN Card has become compulsory now for many
day-to-day transactions. Apart from tax filing, the card serves a few other
purposes as well. Some of the reasons why a PAN card is necessary for every
Indian are: -
●
IT returns
filing
●
Opening a
bank account
●
Buying or
selling a property
●
Claiming
for Income Tax Refund
●
Opening a
Demat account
●
Making
investments
●
Buying and
selling immovable assets
●
Bank
drafts, pay orders, or banker’s cheques
● Traveling to foreign countries
● Buying or selling a motor vehicle
How
to Apply for a PAN Card Online
Applying for a PAN Card online is very simple. You just have to visit the government-authorized websites - the NSDL (National Securities Depository Limited) or UTIITSL (Infrastructure Technology and Services Limited). You only need to fill out and submit an application form, along with online payment of the processing fee. You can also send all the documents by post to UTIITSL or NSDL for verification purposes.
Necessary
Documents for PAN Card
The necessary
documents for a PAN card are address proof, passport-size photos, date of birth
certificate, and proof of identity, all of which have the exact name, as
mentioned with the name on the application form. NRIs and entities not located
in India are required to submit further documents like overseas proof of
address and passport copy, etc.
Having a PAN Card has become mandatory now for
your day-to-day transactions. A PAN card is valid for life and does not need to
be renewed after a few years. One can also avail of the hassle-free and safe
issuance of PAN cards through reliable non-banking financial companies like
Muthoot Finance.
Comments
Post a Comment