Pan Card Status — Permanent Account Number is a unique alphanumeric 10 digit identity that is allotted to all the taxpayers by the Income Tax Department of India under the supervision of the Central Board of Direct Taxes. Having PAN Card is mandatory in order to receive taxable salary, professional fees, purchase, and sale of assets above a certain limit, for buying mutual funds, etc. The main objective of the PAN is to make use of a universal identification key for keeping a track of financial transactions that may have a taxable component for preventing the tax evasion. Change of address throughout India does not have any effect on the PAN number. PAN Card Status NSDL You can easily check the PAN Card Status at NSDL. Keep in mind that the code is case sensitive. Therefore, make sure that you take care of the case. Keep in mind that the code is case sensitive. Therefore, make sure that you take care of the case. Keep in mind that the code is case sensitive. Therefore, make sure that you take care of the case. Keep in mind that the code is case sensitive. Therefore, make sure that you take care of the case. How To Do PAN Card Verification The facility of Online PAN verification is provided to some entities for getting their PAN verified. NSDL is the authorized agency that can launch an online PAN verification service for the verification of the online PAN details. The three modes by which you can get the online PAN Card verification done are: 1. Software API based PAN Card Number verification You can verify your PAN by accessing a verification website with the help of a software application. How To Correct Any Information on PAN Card At times, some errors might appear on your PAN Card. Some of the most common errors are incorrect spelling of name, wrong date of birth, error in communication address, etc. Whilst many of you might think them to be minor mistakes, they can have a huge impact on financial things that you do in the future and hence should be rectified as soon as possible. This application must be used when the user already has a PAN Card allotted but the applicant wants to make some changes or correction in the existing PAN Card. Visit the official website of NSDL 2. Click on the Services option and from the drop-down menu select PAN option. Make sure that you select the appropriate checkboxes in front of the relevant details. The PAN will remain the same, only the details that have to be changed only will be reflected in the new PAN card. Proof of Identity 2. Proof of Address 3. Proof of date of birth If you do not have a PAN Card and you are an Indian national, you can apply for it. The supporting documents that you will require to complete the PAN application are: 1. Proof of Identity 2. Proof of Address 3. Proof of date of birth In case you are a foreign national, then apply for a PAN Card. Who all are eligible for applying for a PAN? In addition to this, the people who want to intend to do economic or financial transactions where PAN is mandatory can also apply for PAN. Is it illegal to possess more than 1 PAN? Yes, it is illegal to be a holder of more than 1 PANs. All the private, public, and co-operative banks ask for the submission of PAN card for opening the bank account. Identity Proof PAN Card also acts as a valid identity proof of an individual as well as proof of age in the entire country. It is also considered a valid ID and age proof when applying for a passport, driving license, voter ID, gas connection, etc. Filing IT Returns All the individuals in India, who come in the eligibility bar of the Income Tax, need to file their IT returns regularly. In order to file IT returns, one need to have a PAN Card. Filing IT Returns is one of the reasons why people apply for a PAN card. Investing If you are thinking about making investment in the securities, you will have to provide your PAN card details for the transactions above Rs 50,000. This is applicable to equities, bonds, mutual funds, and debentures. Buying Jewellery When buying jewellery of worth more than Rs 5, 00,000 it is mandatory to furnish the PAN card details at the time of the transaction. Renting, Buying or Selling Property In India, now renting, buying and selling properties requires a PAN card. In such cases, the PAN card details of both the seller and the buyer need to be listed on the deed as well as other documentation that are use during the transaction. Foreign Exchange If you are in a foreign country and want to exchange your Indian currency with a foreign currency, then you will need to provide your PAN card details at the exchange bureau, bank, or institution from where you getting your money exchanged. Loans If you require a loan, all the loan providers, be it, a bank or a lending company asks for your PAN details at the time of your loan application. All the loans, right from the educational loans to home loans, require the PAN card details for being approved. Depositing Cash While making cash deposits that amount to more than RS 50,000, you will be asked to furnish your PAN card details as well. This is done on the instructions of RBI that asks for the notification of large amount deposits in order to prevent the money laundering. FDs Fixed Deposits Fixed Deposits amounting to more than Rs 50,000 are processed with PAN card details. Double check all the written information. Before entering any information you must have to understand the format and rules.
