As per the Income Tax Act, 1961, individuals must have a PAN card to carry out a transaction of more than Rs. 2 lakh. Furthermore, taking into consideration that it serves as an essential identity document nowadays, the Government has implemented a streamlined method to help everyone obtain a PAN card within a few hours.
So, in case you’re thinking about making a high-value investment or looking to open a bank account, opting for an instant PAN card can be a wise decision.
Earlier, obtaining the permanent account number used to be quite time-consuming. Thanks to the easy access to internet facilities, the process has become much easier. All you have to do is follow the below-mentioned steps to apply and receive a PAN card within 48 hours.
Taking into consideration that a PAN card has multiple uses, one must have a clear understanding of this document.
An instant PAN card consists of 10 alphanumeric characters, where;
Since a PAN card serves as a photo identity document, it comprises all the details of the entity it gets issued to. Here is a list of all the information you can find in your PAN:
For this PAN card application procedure, individuals or organisations have to submit various documents. After submitting the application, one can use the NSDL website to track the verification status online.
Here are the steps you need to follow to check your PAN card verification status:
Keep in mind that you can only check the verification status of your PAN card within 5 days of receiving the acknowledgement. Also, applicants who are not that tech-savvy can apply for this document using the offline method.
All they have to do is download Form 49A or Form 49AA from the NSDL website first. After that, they need to fill in the required details and visit the nearest PAN centre to submit the form along with the necessary documents. Generally, applicants need to provide proof of identity, address proof, and two recent colour photographs for this.
Remember, it is imperative that you keep all the documents handy to obtain an instant PAN card without any hassle.
Ans: No, the standard procedure involves the verification of all your documents before issuing your PAN card. Note that you cannot collect your new PAN card at the nearest Income Tax office. It will be mailed to your registered address.
Ans: As per the Income Tax Act of India, having two PAN cards is illegal. Therefore, apply for a single PAN card under your name. In case you make changes to your card and get a new PAN, make sure to surrender the old one.
Ans: Generally, it takes 15-20 days to get a PAN card issued under an individual/ organisation/ firm’s, etc., name. However, these days the easy accessibility of internet facilities has enabled applicants to get a PAN within 48 hours.
Ans: Yes, whether you are getting a physical PAN card or an e-PAN, you have to pay a nominal fee. To get a PAN card, you have to pay Rs.93 plus 18% GST. On the other hand, to obtain an e-PAN, you have to pay Rs.66 (inclusive of taxes).
Ans: As per Central Government’s announcement, it is mandatory for every Indian citizen to link their PAN card with the Aadhaar card. The deadline for this is 31st March 2022. Note that the Income Tax Department will deactivate those PAN cards which are not linked with Aadhaar within that date.
Disclaimer: Mutual Fund investments are subject to market risks, read all scheme-related documents carefully.
This article has been prepared on the basis of internal data, publicly available information and other sources believed to be reliable. The information contained in this article is for general purposes only and not a complete disclosure of every material fact. It should not be construed as investment advice to any party. The article does not warrant the completeness or accuracy of the information, and disclaims all liabilities, losses and damages arising out of the use of this information. Readers shall be fully liable/responsible for any decision taken on the basis of this article.
How to Check PAN Card Status Online: Track Pan Card Application Status
Ms Sinha recently applied for a PAN card as she needs it for some official work. However, quite a f... Read More »How to Check PAN Card Delivery Status – Online Process
Mr Kumar has recently applied for a PAN card. He needs it on an urgent basis as without this docume... Read More »Download PAN Card Online – How to Download e-PAN from NSDL and UTIITSL
Your PAN card is extremely important for practically all high-value transactions and tax filing in ... Read More »What are PAN Card Services At NSDL – How to Make Changes and Check Application Status
National Securities Depository Limited was established in 1996 to handle dematerialized securities ... Read More »How To Apply For Instant PAN Card Through Aadhaar And How To Check Status Online
Instant PAN facility is now made easy with Central Government’s Digital India programme that also... Read More »What are The Different Types of PAN Cards Available in India (2023)
PAN (Permanent Account Number) refers to a 10-digit alphanumeric code utilised by the Income Tax De... Read More »What are the Different Fees and Charges to Apply for Pan Cards In India (2023)
As per Rule 114B of the Indian Tax Rules, quoting the PAN card details has become mandatory now for... Read More »What is The Eligibility Criteria to Apply for a Pan Card in India
Individuals or entities, including those belonging to foreign countries, earning taxable income in ... Read More »What Is a PAN – How to Apply Online, Its Uses, Need and Eligibility Criteria
A PAN (Permanent Account Number) is a 10-digit alphanumeric number on a laminated plastic card (PAN... Read More »How To Access Your PAN Card Details Online: Via IT Website and Mobile App
The Income Tax Department provides a 10-digit alpha-numeric code, which is called the PAN (Permanen... Read More »How to Apply for a New PAN Card – Online and Offline Process
PAN or Permanent Account Number is a unique 10-digit alphanumeric identifier issued by the Income T... Read More »How To Reapply For A Lost PAN Card – Online, Offline and ePAN
A PAN card is a laminated document containing a 10-digit alphanumeric code unique for every taxpaye... Read More »Top 10 Chit Fund Schemes in India in 2023
Chit funds are one of the most popular return-generating saving schemes in India. It is a financial... Read More »10 Best Gold ETFs to Invest in India in February 2023
Gold ETFs or Gold Exchange Traded Funds are passively managed funds that track the price of physica... Read More »Top 10 Demat Accounts in India [Lowest Brokerage Charges]
A Demat account was created to eliminate the time-consuming and inconvenient procedure of purchasin... Read More »20 Best Index Funds in India to Invest in 2023 (Updated on 31st Jan)
What is an Index Fund? An index fund is a type of mutual fund or exchange-traded fund (ETF) that... Read More »Best Arbitrage Mutual Funds to Invest in India: Returns and Taxation
Arbitrage funds are hybrid mutual fund schemes that aim to make low-risk profits by buying and sell... Read More »Best SIP Mutual Funds To Invest In India (2023) – Its Types And Taxation
A Systematic Investment Plan (SIP) is a convenient way to invest a fixed sum in mutual funds. For i... Read More »10 Best Corporate Bond Funds in India 2023 – With Returns
Corporate bond funds are debt funds that invest at least 80% of the investment corpus in companies ... Read More »10 Best Banks for Savings Account in India (2023)
A savings account keeps your money safe, and lets you earn interest every quarter. There are many b... Read More »All information is subject to specific conditions | © 2023 Navi Technologies Ltd. All rights are reserved.
Start Small. Dream Big.
Start your Investment Journey with just ₹10