Trick III : PAN Card Status By NSDL Check Your PAN Card Status Online By NSDL Website. We are Private agents managing this website and providing assistance for PAN card Medico for Business Benefits. Good choice is two names i. Especially as your bank accounts, educational certificates have the same name. Sir, My Card no. Please suggest the me best way to take my aadhaar card. The material on this site may not be met, distributed, transmitted, cached or otherwise used, except with the prior written permission of Advance Local. Whiling filing form for applying PAN and Passport people have a problem filling First Name, Middle Name and Surname if their name has initials. PAN cards are issued by the I-T department, but the front-end of the ring has been outsourced to UTI Technology Services Ltd and the National Securities Depository Ltd NSDL since July 2003.
Most of us also use PAN card as an Identity proof. Sometimes, we use it to book railway tickets, we submit a copy of PAN card to change Mobile SIM, for hotel reservations etc. Can it be misused? PAN card should be used only where it is specified by the Income Tax Department and in other laws wherever it is mandatory. If you use PAN card as an Identity proof, there are chances that it can be misused to commit financial frauds, crimes and forgery. It can be used to carry out benami transactions. So, it is very important to know when and where PAN number is to be used. What is PAN Card? PAN is a ten-digit alphanumeric number, issued in the form of a card by the Income Tax Department. PAN facilitates linking of various documents including; payment of taxes by an individual, information on investments, loans etc. The characters are not random. For Example — AFDPR8190K, where the first 5 three characters i. Next four characters i. Financial transactions where quoting of PAN is mandatory Below are the financial transactions where quoting your PAN is compulsory. All these new rules will come into effect from 2016. These transactions can be both by cash or card. Properties valued by Stamp Valuation authority at amount exceeding Rs. But, you still need to quote PAN for all post-office time deposits. Deposits aggregating to more than Rs 5 Lakh during the FY will also need PAN. But all other bank accounts, including those opened with cooperative banks, will have to quote PAN. Also, on Forex purchases. Also, PAN is mandatory for cash deposits aggregating to Rs 2. If PAN is not given then TDS at the rate of 20% will be deducted. Quoting PAN will help create an audit trail of all high-value transactions by one particular individual and help the tax department determine if it is in line with the declared income of that person. Depending on the purpose and requirement as mentioned above , use it prudently. You may submit other ID proofs like Aadhar card, Voter Id, Driving license etc. For example — for applying HDFC bank credit card. You may quote specific entity name, purpose, date and then sign the PAN copy, to avoid any mis-use. Latest Update 13-January-2017 : The Income Tax Dept has prescribed certain changes in the existing design of the PAN card as below. Accordingly, new PAN cards will be issued by incorporating these changes. Kindly note that the existing PAN card holders are not required to apply for new PAN card. Also, Aadhaar number and PAN have to be quoted for all the financial transactions of above Rs 50,000. Sreekanth Reddy Sreekanth is the Man behind ReLakhs. These should not be construed as investment advice or legal opinion. In a Financial year i have stayed in two different rented accomodation one for 4 months and another for 8 months. Both the places i have paid rent of Rs. But each of the house owner is ready to share their PAN Card, as i have payed less than rs. How could i Claim HRA exemption, without their PAN card copy available, for the rent i paid. Could you please clarify my doubt? I got to know all these thing when he asked me to give fake HRA recipit. Also from someone I got to know that he is showing some of his relative as actual landload of the house. Now what legal action can be taken against him. Also is there any liability that I have to pay to IT department. I have separated from my wife,. As per the Court order I was required to give my property in India and I have signed the transfer papers and given her a Power of Attorney to do all that is necessary. She desire to deposit FD in the monthly income scheme. MY query is 1. IT dept will ask about fund which i send into her account from my salary account in which i got only salary , no cash deposit in my salary acct through NEFT. IT dept will ask about FD?? She need to file IT return or not??? But you can show the documentary evidence about the transfers. You can treat these transactions as GIFTs. But kindly note that if she invests this gift amount and gets income then she may have to file income tax return if applicable. Read: 2 — Even if her income is below exemption limit, she can file income tax return by disclosing the Gift Exempt income amount in her return. Also, on Forex purchases. Excellent article, as my travel agency was asking me to submit PAN for the above reason. At least, I know now they are not asking without any reason. I believe that there is no such provision to track the usage of PAN for the said purpose. There are many instances where PAN has been mis-used may not be by the tenants but generally. Will the IT department question if ITR is not filed by the landlord for that financial year. The matter was cleared to the VAT dept. Also the same information was shared by the VAt dept to IT dept too. Now more than 4-5 years passed. I am helpless for business. I do get some job work but to get higher assignments I shall have registration. Now I want to know that still some people may be using the same No. Hence, I want to get rid of all this and start new business. Please let me know. Please can you suggest what should be the correct ratio so that its not too overburdening financially. I earn 6LPA and I would like to invest for the following plans; 1. Personal Accident Insurance self , 2. Term Insurance self , 3. Health insurance self , 4. Now PAN had been used as identity proof and Used for many purposes like opening bank account, Large transaction etc. Both IDs are linked with financial data hence should be avoided as much as possible. These should be used only for banking and taxation purpose. Thanks Sreekanth for writing much needed article. Indian janta need this education. This critical information is being printed and displayed publicly on rail coaches. Anyways, do you know if there was any loss reported because of PAN number misuse? Like it was published in the newspaper today that a person lost 1. The person is fighting his case in the consumer court since the bank is not willing to listen. This person had no net banking account. From people employed in the Income tax Dept. By hacking or otherwise.
