PAN Card: Overview, Types, Documents, Process and Importance

In India, PAN is a vital document for carrying out financial transactions by an entity. It stands for Permanent Account Number (PAN). In addition, it is also used for opening a bank account, taking credit cards or loans, filing tax returns, and more. Apart from this, it contains the cardholder's identity details and PAN. For many aspects of your financial journey knowing your PAN number is important. So, on this page let us know all about this card including documents, process, types, and more.

What Is a PAN Card?

Issued under the Income Tax Act 1961, a PAN is a 10-digit identification number given to all taxpayers in India. It consists of an electric system that stores all tax-related details of a company/person. In addition, the card works as the primary key for the recording of more information and is shared nationwide. Therefore, no two persons can have the same identity number.

All taxpayers, persons, or existing assesses who need to pay the tax should have a PAN. It is not limited to individuals but partnership firms and companies as well. Even non-resident Indians, individuals, students, and minors can also apply for it online. Further, from 1 January 2017, the PAN cards contain a Quick Response (QR) code stating the details of the PAN cardholders. The following code can also be used for verification of data. Apart from that, it carries the name of the cardholder, the father's name, DOB, and signature. Moving ahead, let's take a quick overview of PAN through the below table.

Authority Issuing PAN	Income Tax Department, Govt. of India
PAN Customer Care Number	020 27218080
PAN Card Inspection	1972
PAN Card Validity	Lifetime
Cost of PAN Card	Rs 66 - Rs. 1,017
Application Mode of PAN Card	Offline and Online

It is what a PAN card is and the information it consists of. Moving further, let’s learn more about it in detail and start with its contents.

Contents in PAN Card

PAN card consists of several details, which are as follows:

• Cardholder's Name: Name of the individual, company, LLP, or partnership firm.
• Cardholder's Father's Name: It is mandatory for individual cardholders. The father's or mother's name will be printed.
• DOB: The DOB of the cardholder in the case of an individual or the DOB of registration in the case of a firm or company.
• PAN Number: It is a combination of 10-digit alpha-numeric numbers. Each character shows details about the cardholder.
• Signature: It is only applicable to individual cardholders. In addition, PAN cards also act as evidence of the signature required of an individual during financial transactions.
• Photo of the Individual: It also acts as a photo identity proof of an individual. However, in the case of firms and companies, no photograph is mentioned on the card.

These are the following things this small card consists of. Moving further, let's know the structure of it.

Structure of PAN Card

As mentioned above a PAN card consists of a 10-digit alphanumeric number. In it, all characters represent different details of the cardholder. Moving on let's know about each character of the PAN card in detail:

1.) The First Three Letters: These are alphabetical and consist three any three letters from A to Z.

2.) Letter Four: The fourth letter is also an alphabet that shows the type of taxpayer. The several entities and their respective letters are as follows:

• A- Association of Persons
• B- Body of Individuals
• C- Company
• F- Firms
• G- Government
• H- Hindu Undivided Family
• J- Artificial Judicial Person
• L- Local Authority
• P- Individual
• T- Association of Persons for a Trust

3.) Letter Five: It is the first letter of the surname of an individual.

4.) The Next Four Letters: These are numerical and are between 0-9.

5.) Last Letter: It is an alphabet.

Following is the structure of the 10-digit number mentioned in the PAN card. Here each letter holds a significance.

Furthermore, do you know there are different types of PAN cards available? Let's read about them and gather some information.

Types of PAN Card

Since a PAN card is provided to both entities and individuals, there are different sorts of it. In addition through several types of Form 49 given by the government, the party has to apply for it. Here the below list consists of the types of cards along with forms used to avail them.

PAN Card for Individuals

It is the most general type of PAN Card that is given to an individual. Through Form 49A available online at UTIITSL and NSDL websites you can apply for this card. It involves people residing in India including students and minors as they can also apply for it.

PAN Card for Indian Companies

Corporate entities and firms registered as well as working in India can also apply for it. The card assists them in their tax-related and financial transactions.

PAN Card for Non-Resident Individuals or Persons of Indian Origin

PIOs and NRIs can also use a PAN card to pay taxes in India. For the card, they need to fill out the form 49A.

PAN Card for NRI and OCI

Non-resident entities and overseas citizens of India can also apply for this card. To get the card they need to fill out the 49AA form.

PAN Card for Foreign Entities Paying Tax in India

Companies and firms registered outside India but pay tax in the country because of their business functions also need to have a PAN card. In addition, to get it they need to fill out the Form 49AA.

These are the different types of PAN Cards available for different purposes. Furthermore, let us know the documents required to apply for a PAN Card for each type.

Documents Required for PAN Card

Apart from the application or approval form people need to submit some papers for the verification process. However, as per the applicant type the documents vary. Here are some key papers along with the PAN application form entities needed. So, let's know about them as per the PAN card type:

Persons	Documents Needed
Individual Applicant	Identify Proof (Copy of any of the following documents) Voter ID, Aadhar ID, or any government-issued ID A pensioner card containing the photo of the applicant Arm's License Contributory Health Scheme Photo Card from Ex-Servicemen or Health Scheme Card from Central Government A photo ID card issued by the State Government, Public Sector, or Central Government Original bank certificate issued on the letterhead of the bank. In addition, along with the account number the document should contain the photo of an applicant.
	DOB Proof (Copy of any of the following documents) Passport Birth certificate issued by the municipal authority Driving license Matriculation certificate Domicile certificate issued by the government of India Pension payment order Marriage certificate by Registrar of Marriage An affidavit certificate stating the date of birth of the applicant
	Address Proof (Copy of any of the following papers) Passport Postpaid smartphone bill Broadband, electricity, or landline connection bill Credit card statement Voter ID Aadhar Card Bank Statement Driving License Post Office account passbook Domicile Certificate given by the government Deposit account statement Registration document of property The original certificate from the employer stated that the employer working in a reputed private or public firm
Registered Company	The registered company requires a registration certificate from the Registrar of Companies.
Limited Liability Partnership (LLP)	The registered company requires a registration certificate from the Registrar of Companies.
Trust	Copy of the Certificate of Registration Number or Trust Deed issued by a Charity Commissioner.
Artificial Juridical Person, Local Authority, BOI, or AOP	Copy of agreement or Certificate of Registration Number issued by Registrar of Cooperative Society or Charity Commissioner or any other competent authority.
Hindu Undivided Family (HUF)	HUF Affidavit issued by the head of HUF along with POA/ POI details
Partnership Firms	Registration certificate issued by Partnership Deed or Registrar of Firms
Foreigners	Identity Proof (Copy of any of the documents) Citizenship Identification Number OCI/PIO Card Taxpayer Identification Number (TIN) duly attested by the Indian Embassy, “Apostille” or High Consulate or Commission Passport
	Address Proof (Copy of any of the documents) Bank statement Passport OCI/PIO card Registration Certificate given by visa granted or Foreign Registration Office Appointment letter copy from the Indian firm Residence Certificate in India

These are the following documents an individual needs during the application process for a PAN Card. However, as mentioned above it varies as per the type of the card. Furthermore, let's know the types of PAN Card Forms individuals fill out during the application process.

PAN Card Forms

The PAN card applications are of three types which are as follows:

• Form 49A: This form is filled out by all Indian companies and Indian citizens. It includes NRIs, Indian firms, Indian AOP/BOI, minors, citizens located outside India, and Indian companies. 
• Form 49AA: It is for all foreign citizens who need a PAN Card.
• Reprint of PAN Card/ Correction or Changes in an existing PAN: It is for those people who need changes in their PAN Card due to some mistake. However, people who want to reprint the card without any changes can apply for the reprint option from the application form.

These are the types of forms available for people during the PAN Card applicationprocess. One can select any of them as per their need or requirement. Moving ahead, now let's know the process of applying for this card.

How to Apply for a PAN Card?

An individual can apply for a PAN card in two different ways- online and offline PAN card application process. Online candidates can either visit the UTIITSL portal or the NSDL Portal to apply for the card. In the below section, we will discuss the ways can use to apply for the card.

Steps to Apply for the PAN Card Offline

Through a district-level agency, you can apply for the PAN Card offline. For this, you can use the below-mentioned steps:

• From the UTIITSL or NSDL website download the 49A PAN card application form. In addition, you can also collect a copy from the NSDL office/ UTIITSL agents
• Fill out the form and attach the asked documents (identity proof, address proof, and photo)
• Submit the documents and forms to the UTIITSL/NSDL office along with the fees
• Within 15 working days, you will receive your PAN card at the mentioned address

Steps to Apply for the PAN Card Online

One can also apply for a PAN card online either through the UTIITSL or NSDL (now Protean) portal. Here are the steps you can follow for online application for a PAN card:

• Visit the UTIITSL or NSDL online site for an online PAN card.
• From there choose the option of 'New PAN.'
• After that whichever is applicable Form 49A or Form 49AA fill the form.
• In the form fill out the mentioned details.
• After submitting the document, the applicant needs to pay the processing fee online or through a demand draft.
• With this, an acknowledgment slip is given after the payment. It consists of 15 digit number.
• Using Aadhaar OTP authentication or the send application you can e-sign the application with the asked documents. In addition, you can send the documents to the UTIITSL or NSDL office by courier within 15 days.
• After the acknowledgment form is sent to the relevant office/e-signed, the PAN number is verified. In addition, the card is generated following the NSDL/UTIITSL PAN verification.

The physical PAN card is delivered to the customer's address as specified in the form within 15 working days. Also, e-PAN will be available online on the site from there you can download it. Furthermore, now let us know the fees for a PAN card.

Fees for PAN Card

The below-mentioned table showcases the fees for PAN card application:

Application Submission	PAN Card Dispatch Mode	Price (Including GST)
Submission of PAN Card application online or offline using a physical mode of document submission	PAN Card dispatch in India	Rs. 107
	PAN Card dispatch outside India	Rs. 1,017
Submission of PAN application online through paperless mode	PAN Card dispatch in India	Rs. 101
	PAN Card dispatch outside India	Rs. 1,011
Submission of PAN Card application online or offline using physical mode of document submission	PAN Card dispatch to the email ID	Rs. 72
Submission of PAN Card through paperless mode	PAN Card dispatch to the email ID	Rs. 66

During the PAN Card application, applicants can make the payment. One can get the price list online for OCI, business firms, and NRI. In addition, the cost already involves consultation charges, government fees, and international delivery. Also, people living in Canada or the USA with an additional fee can send the signed papers to New Jersey. Apart from this, the refund policy is also available in case you do not want the PAN Card.

It was all about the fees types included in the PAN card. Moving further, let's know how to check the PAN Card status.

How to Check the Status of PAN Card?

After the application submission of the PAN Card, the applicant gets an acknowledgment number. With PAN officials, use the coupon number to track the status of the card online. Through this, it is easy to check the status of PAN online. In addition, the customer care team also sends updates to applicants by email. Furthermore, the following are the steps by which you can track the status of the card:

• Visit the official website of UTIITSL or NSDL.
• Enter the application or acknowledgment number and captcha code. After that click on the "submit" option.
• The application status of the PAN card will shown on the screen.

Through these steps, one can easily do your PAN card tracking online. Furthermore, if you need more information or help regarding this feel free to contact Visament. The experts there are very well-known in the process and can assist you in solving any kind of query. Moving ahead, let's know about the PAN Card corrections/update.

PAN Card Corrections/ Update

Applicants who already have a PAN Card and want some changes or updates can request a reprint. For this, they only have to apply through a separate application. In addition, foreign companies can also able to do so. However, in this, the only thing individuals need to know is their PAN Number. Without it, they cannot able to do so. Further, it is how they can update or make corrections to the PAN Card:

• Visit the official website of UTIITSL or the NSDL website.
• From there choose the type of application- "Reprint of PAN card/ Correction or Changes in existing card."
• Mention the details that need to be updated, submit the asked documents, and click on the "submit" option.
• Make the payment.
• Within 15 days your PAN card will be dispatched.

It is how by using these simple steps you can update your PAN card. Moving further, let’s know the process of applying for a duplicate PAN card in case of loss.

What Is the Process for Applying for a Duplicate PAN Card if You Lost the One?

In case an applicant loses his/her PAN card, he/she can apply for it online or offline. UTIITSL and TIN-NSDL allow people to fill out the form for it and make the payment. Here is how you can get your duplicate PAN Card:

• Visit the official website of UTIITSL or TIN-NSDL and apply for a duplicate copy of the card.
• From there fill out form 49A in case you are an Indian citizen and form 49AA in case of a foreign citizen.
• Get a demand draft issued and make the online payment.
• After that, using Aadhar OTP e-sign on the site.
• In the next 15-20 days you will get your PAN card.

Following the mentioned steps is how you can get your duplicate PAN card. Further, in case of loss, you do not need to apply for a new card you only have to request for a duplicate one. Moving ahead, let's discuss the do's and don'ts you should avoid while filling out the PAN form.

Do’s and Don’ts of Filling Out the PAN Card Form

While applying for an official document there are some do's and don'ts that one should avoid. It makes the process simple and easy to deal with. Considering this, the PAN card has also its do's and don'ts so let's know what are they:

• The application form for the PAN card is only filled in the English language.
• Also, all the details mentioned in it should be relevant and current.
• Make sure you mention your complete address to dispatch the card to your home.
• Avoid mentioning abbreviations in the first and last name section. If your name consists of abbreviations, write your complete name.
• Applicants other than individuals, are not required to mention their gender, home address, and details of parents. 
• If the source of income is not a profession, business, or salary, individuals do not need to write the office address.
• The registration number section should be left blank.
• When attesting the supporting documents, attach the relevant papers with your thumbprints or sign.
• Also, a lack of supportive documents and incorrect details can reject the application. So make sure you mention all the asked details and attach the right papers.

These are the dos and don'ts that you need to take care of while applying for a PAN card. In addition, you can also take the help of experts like Visament to guide you better in this process. The professionals here can assist you in filling out a successful PAN application.

Well, do you know foreign citizens or entities can also hold a PAN card? But they do need to follow some eligibility criteria and documents for this. So, let us know what are they.

Documents / Eligibility Criteria Required for Foreign Entities/Citizens

To apply for a PAN card in India, foreign citizens/entities can fill out the Form 49AA. With this, here are some of the general eligibility criteria and papers that need to be submitted:

Foreign Citizens: Along with the DOB foreign individuals need to submit a valid ID and address proof for a PAN card in India.	Identity Proof OCI card/ PIO card/ Passport CIN (Citizenship Identification Number) or TIN (Taxpayer Identification Number) is attached to the High Commission, Ministry of External Affairs, or Indian Embassy.
	Address Proof OCI/Passport/PIO CIN (Citizenship Identification Number) or TIN (Taxpayer Identification Number) is attached to the High Commission, Ministry of External Affairs, or Indian Embassy. NRE (Non-resident External) bank account statement held in India Certificate showing the home status in India or residence permit given in India by police officials Bank statement (from the nation where he/she belongs) Visa granted copy or an appointment letter or a contract given by the Indian firm. Even they can also produce an address proof letter issued by an Indian employer. Registration certificate carrying the Indian living address issued by the registration office of the foreigner.
Foreign Entities: Along with the 49AA PAN Form the foreign entities are eligible for the car by submitting the mentioned papers.	Registration certificate copy issued in India or approval given from Indian authorities to set up a branch in India. Registration certificate copy issued by the nation where the entities are located duly attached with High Commission, Ministry of External Affairs, or Indian Embassy.

Following are the eligibility criteria/documents that foreign candidates and entities need to get the PAN Card. Further, in case you need PIO to OCI conversion feel free to reach Visament. The experts there have good experience in all these things and can guide you better.

Moving ahead, do you know apart from paying tax there are more perks of having a PAN card? Want to know what are they? Read the next section.

Benefits of Having a PAN Card

Do you know apart from paying tax PAN card is needed for several identity and financial purposes? With its unique identification number, it aids each tax-paying individual with the following perks:

Filling Income Tax Returns

Entities ( firms, HUFs, etc.) and individuals are needed to mention their PAN card whenever they file a tax return. It is a compulsory thing. In case an individual or entity does not have the card they need to pay a flat 30% tax on their earning irrespective of their income tax bracket.

Business Registration

Without a PAN card, companies, HUFs, partnership firms, or other entities cannot register their business. For them, it is compulsory to have the card.

Availing Utility Connections

In many cases when services like an electricity connection, LPG connection, etc. need a PAN card. However, it is advisable to use other options for IDs like driving licenses, Aadhaar cards, etc. if possible for these services.

Conducting Financial Transactions

Financial transactions can only take place if the individual/entity has a PAN card. Some basic transactions given by the PAN card involve the purchase or sale of any immovable property with a value of 5 lakh or above. In addition, buying or sale of a vehicle except for a two-wheeler, depositing more than Rs. 50000 in the bank, or buying bonds of Rs. 50000 or above.

Apart from this, outside India, if you buy mutual fund schemes, insurance policies, or shares above Rs. 50000 you are required to have a PAN card. Also if the expenses exceed Rs. 25000 then as well you need the card.

Opening a Bank Account

Nowadays, in many cases, banks have made Know Your Customer (KYC) compulsory. In this, a PAN card is one of the primary requirements. When opening an account, the bank needs individual number verification.

These are the following perks that come along with the PAN card. Furthermore, let's know the drawbacks of not having the card.

Drawbacks of Not Having a PAN Card

Well, as stated above a PAN card provides lots of benefits to its holders. Considering this, if one does not have they are unable to do the following things:

• A PAN card is a mandatory document for selling or buying a property or asset. Without it, an individual cannot do this process.
• In addition for making payments above Rs. 50000 it is compulsory to have a PAN card by your side.
• Apart from that, for Income Tax returns as well it is compulsory to have a PAN card.
• Also, if you need a loan or credit card it is vital to have a card.

These are the following drawbacks of a person who does not hold a PAN card. So, every Indian citizen should apply for the card and enjoy the perks it brings with it.

Conclusion

In India, a PAN card is a vital tool to do financial transactions. Having it by your side provides a lot of perks to an individual and entities. Here the following blog was all about that. In case you face any issues with your PAN Card or other related things feel free to contact Visament. Here the the experts will aid you in solving all your queries. Apart from that, they will make the process easy and simple for you. Furthermore, they can also assist you in services related to your Indian passport in the UK. So reach out today and get the best assistance by your side.