The Permanent Account Number is a 10-digit alphanumeric code issued by the Income Tax Department of India to each taxpayer. This number also acts as a proof of identity for the Indian citizens. It is mandatory to have a PAN for conducting financial transactions such as filing for Income Tax Return, for buying mutual funds, applying for a loan, etc.
However, the fundamental aspect of issuing PAN cards to every citizen in India is to keep a track and maintain a record of their financial transactions for taxation purposes.
Check PAN Card Details by Name and Date of Birth
There’s no such process to check your PAN Card details by Name and Date of Birth, but you can always check your PAN Card details by verifying your PAN by entering name and date of birth. Here’s how you can do that by following the steps mentioned below:
Step 1: Visit the official website of Income Tax E-Filing at https://www.incometaxindiaefiling.gov.in/home
Step 2: Click on ‘Verify your PAN Details’ under section “Quick Links”.
Step 3: Enter your PAN, full name, Date of Birth to proceed further.
Step 4: Select the status i.e., whether individual, Hindu undivided family, the association of persons, body of individuals, company, government, artificial juridical person, local authority, and firm or trust.
Step5: Enter the “Captcha Code” for verification from the given box.
Step 6: Click on “Submit” option.
Step 7: You will be redirected to a new page, and it will show “ Your PAN is Active and the details are matching with PAN Database.”
How to Search PAN Card Details by PAN Number?
You can easily search for their PAN card details by PAN number following the below mentioned steps:
Step 1: Login to Income Tax Department official website at https://www.incometaxindiaefiling.gov.in/home
Step 2: Click “Register Yourself” and enter PAN number
Step 3: Enter the relevant details carefully and then click “Submit”
Step 4: You will receive a link on your mail address regarding the activation of account
Step 5: Go to “My Account”
Step 6: Click on “PAN Details” under the section “Profile Settings”
Step 7: All the information regarding the PAN card will be displayed on the screen. It includes Name, Address, Area Code, Jurisdiction and other details.
How to Search for the Address in your PAN Card
PAN Card consists of a number of details which comprises- Name, PAN number, Photograph, DOB and other things. It is important to know the PAN details so that one can easily check/update/ correct the information mentioned on the PAN. Below mentioned are the simple steps to search for address in your PAN Card:
Step 1: Visit the official website of Income Tax Department at https://www.incometaxindiaefiling.gov.in/home
Step 2: Click on ‘Registered User?’ available on the top right hand corner.
Step 3: Now, enter all the relevant details required.
Step 4: Click on “PAN Details” from the drop down list under section “Profile Setting”
Step 5: On clicking ‘Address’, the user will be able to get complete details such as address, country, pin code, state and others.
How can I Change my Details in a PAN Card?
You can easily change your details in a PAN card by following the below-mentioned steps:
Step 1: Visit the official website of NSDL E-Governance at www.tin-nsdl.com
Step 2: Click “PAN” under “Services” section.
Step 3: Click “Apply” under “Change/Correction in PAN Data”
Step 4: You need to click on Application type and select ‘Changes or correction in existing PAN Data/ Reprint of PAN Card’ and select the category.
Step 5: Enter all the details such as your name, DOB, mobile number, etc.
Step 6: Now you will be redirected to a new page and a token number will be generated before you fill the form. The same token number will also be sent to your registered email address.
Step7: Click on “Continue with PAN Application form”.
Step 8: You will be redirected to new pages wherein you have to tick ‘submit scanned images through e-Sign’ option.
Step 9: Now fill in all the necessary details such as your father’s name, mother’s name (optional), your Aadhaar number and click on ‘Next’ to proceed further.
Step 10: Now, you will be redirected to a new page where you can update your address.
Step 11: Upload necessary documents such as proof of address, proof of age, proof of identity and PAN.
Step 12: Sign the declaration and click “Submit”
Step 13: You will be redirected to the payment page. Payment can be made through demand draft, net banking, and Credit card/Debit card
Step 14: After successful payment, download the acknowledgement slip. Print it and send it to the NSDL e-Governance office address along with two photographs affixed in the space provided. All necessary documents need to be submitted and attached with the acknowledgment before sending.
The entire process takes 15-20 days once the request has been made for change/correction in PAN data. New PAN card will be received with all the corrections and changes made within the period.
Change address in PAN using Aadhaar Card
The government of India has now made it mandatory for every citizen to link their PAN with Aadhaar cards for filing Income Tax Return. As of now, the deadline for linking PAN with Aadhaar card is 30th June 2020. However, with linking of PAN with Aadhaar, you can also update your address in PAN using Aadhaar number. Here’s how you can do this:
Step 1: Visit https://www.onlineservices.nsdl.com/paam/endUserAddressUpdate.html to update your address in PAN via Aadhaar Number.
Step 2: Enter your PAN and Aadhaar Number.
Step 3: Now enter your registered mobile number and email address.
Step 4: Read the instructions carefully and tick “Use my Aadhaar details for Address Update Facility”
Step 5: Enter the “Captcha Code” for verification.
Step 6: Click on “Submit” option.
Step 7: An OTP will be sent to your registered mobile number and email address to generate Aadhaar based e-KYC.
Step 8: Click on “Continue with e-KYC”.
Step 9: Enter the OTP received and click on the “Submit” button.
Step 10: Once the generation of Aadhaar based e-KYC will be done, your address as per Aadhaar will be updated in the PAN database.
Step 11: You will be updated the same via registered mobile number and email address.
Importance of PAN Card Details
The ‘Permanent Account Number’ was issued to the citizens of India with the key objective to track their financial transactions for taxation purposes. However, there are other salient features of a PAN card that make it an important document. Some of those are as follows:
- Valid Identity and Photo Proof: The Government of India and the Income Tax Department accepts PAN card as a legitimate ID proof across the country for various purposes such as for an application for a passport, ration card, voter ID card, utility connection such as gas and electricity, etc.
- For Employment Purposes: Employers require the PAN details of their employees for the purpose of taxation since employers deduct necessary taxes such as TDS, Professional Tax, etc. They also require the PAN card details to show their payments to employees, in the form of salary income, at the time of filing their Income Tax Returns.
- Dealings with Banks: One of the prerequisites while opening a Bank Account or to avail any kind of financial services is the individual’s PAN Card irrespective of the type of Bank i.e Public, Private, Co-operative, etc. In an attempt to eradicate money laundering, banks are required to keep a check on all high-value cash transactions and report to the RBI as the prescribed norms, on a periodic basis. Any cash deposit exceeding Rs. 50,000 with a single banking institution in one day requires the PAN details to be furnished. Also, at the time of opening a Fixed Deposit, whose value is equal to or more than Rs. 50,000, PAN is required. This is so because the banks are liable to deduct TDS on the interest earned on such FDs.
After the demonetization drive in November 2016, an amendment was made in the Income Tax rules and all banks were asked to procure and link PAN or Form 60 (In cases where PAN was unavailable) to all the existing bank accounts. The only exception being zero balance saving accounts or Basic Savings Bank Deposit Accounts (BASDA) and the accounts under the recently started financial inclusion program – Pradhan Mantri Jan Dhan Yojana (PMJDY). This activity was to be completed by February 2017.
Also, the government has ensured that individuals resorting to fraudulent practices such as making multiple deposits of amounts less than Rs. 50,000 to escape compliance with statutory provisions, will also be tracked and dealt with accordingly.
- Post Office Deposits: Similar to the FDs with Banks, PAN Card is a mandatory requirement while opening a deposit of Rs. 50,000 or more with the Post Office Department as well.
- Foreign currency exchange: For foreign travels, in order to get money exchanged for foreign currencies, along with a copy of the visa, tickets, passport, etc, travelers need to provide a copy of the PAN Card as well.
- Share Trading: PAN details need to be furnished to the brokers along with the Demat and Trading account provider, for the purpose of trading of shares.
- Mutual Funds and other securities: Similar to share trading, any request to open mutual fund investments or investment in debentures, bonds, etc. need to be supported with the PAN details of the investor.
- Property Transactions: Both the buyer as well as the seller need to provide their PAN details at the time of the registration of the property as well as for finalizing the sales deed. In a case of a property with joint ownership, it is mandatory to quote the PAN details of both the owners. Any transaction related to sale or purchase of an immovable property requires the PAN details when the value of such deal is or exceeds Rs. 5 Lakhs.
- Credit or Debit Card: PAN details are a mandatory prerequisite for the application of Credit as well as Debit Cards. The card applications cannot go ahead without this detail and will get rejected. Such rejections also have a negative bearing on the credit score of an individual as well as it can create a problem in the future for application of loan, etc.
- Loan Applications:
- Payment Wallets
In this age of demonetization, payment wallets have gained a significant place in the way monetary transactions are done. Various payment wallets such as Paytm, Mobikwik, etc. require this detail to be shared for their KYC purposes, if the user wants to make transactions beyond the specified limit of Rs. 20,000 per month.
- Purchase of Vehicle
For all vehicle transactions (sale or purchase) excluding two- wheelers, which fall under the ambit of registration as per the Act for Motor Vehicles, require the PAN details to be shared.
- Payment of insurance premium
It has been instructed by the Central Board of Direct Taxes (CBDT) that the policyholder needs to provide his / her PAN details at the time of paying the premium to the insurance companies, for amounts more than Rs. 50,000 in a particular year.
- Jewelry purchase
Buyers need to furnish their PAN details at the time of making jewelry or bullion purchases for amounts exceeding Rs. 5 Lakhs.
Eligibility for Holding PAN
As per Section 139A (1), the following are required to have a Permanent Account Number
- All individuals whose total income exceeds the starting point of the Income Tax slabs. This also individuals whose income is chargeable to tax on behalf of others such as the income of the parents which also includes the earnings of the minor’s child, etc.
- Charitable trusts required to file returns, as per Section 139(4A)
- Individuals running a business/profession wherein the total sale or income is likely to go beyond Rs. 5 Lakhs
- Importer/exporter who needs to obtain Import Export code
- Anyone who will receive payments post TDS collection
- The person who is required to pay excise duties.
- Anyone who issues invoices under Rule 57AE
- A person who has a responsibility to pay service tax and his/her agent
- Persons registered under the Central Sales Tax Act or the general sales tax law of the relevant state or union territory
- Any individual who wishes to participate in any financial transactions which mandate furnishing of PAN details:
- A person who is not covered in any of the above categories can also apply for a PAN Card voluntarily.
- According to Sec 160, a minor, non-resident, court of wards and anyone defined by law as “an idiot or a lunatic”, can also apply for a PAN. In such cases, the application has to be made by a Representative Assessee, on the behalf of such applicant.