UTITSL stands for UTI Infrastructure Technology and Services limited and it was established in 1993. Formerly known as UTITSL, UTI Technology Services Limited, the company is one of the biggest financial service providers in India. The mentioned company is owned by the GOI and offers various technological and outsourcing services to various government and financial departments of India.
What is PAN Card?
PAN stands for Permanent Account Number which is a standard way to identify Indian taxpayers. It is basically a sole identification number given to the citizens of India who are mostly tax payers. The entire PAN system is directed towards assigning a single identification number to the taxpaying individuals of the country and is entirely computer based. A single PAN helps the government to keep a track of all the transactions done by the individual and maintain a record of the same against a single PAN number. Every individual is assigned a different PAN. No two taxpaying individuals can have a same PAN.
The entire concept of PAN is more or less similar to the Social Security Number also known as SSN which is followed in the US. It is a nine digit identification number given to residents of the US, whether a permanent resident or a temporary one. Initially, designed for the purpose of social security. It is now known as the basic recognition number for taxation purpose.
PAN once issued holds true for the complete lifespan of the PAN holder. PAN card doesn’t carry the address of the holder, hence, stays unaltered by any kind of changes in the residential address of the individual.
PAN Card History
Before the introduction of PAN, the GOI used to follow a physical system which used to stand good only for a particular area or under a single assessing officer. This system was known as the GIR number. The number so issued wasn’t acceptable at the national level. The GIR number was issued to the tax payer by the immediate assessing officer and it carried the information about the assigning officer as well as the tax payer.
Since, the GIR number was not a single identification number and was issued at a small level, a lot of errors and miscalculations used to occur at the time of assessment of yearly tax.
Hence, the GOI introduced the concept of Pan in the year 1972 and was made statutory by the GOI under Section 139A of the Income Tax Act, 1961. Initially Pan Card was issued in order to handle the then existing problems with the GIR number. Pan when launched was made voluntary by the Government. It was only in 1976 that holding a PAN was made mandatory by the government.
A specific set of numbers were allocated to every circle or ward in order to avoid any kind of duplication and the numbers were allotted manually. However, this process was later withdrawn owing to the number of problems linked to it.
Even though, The GOI adopted many measures to resolve the problems linked to PAN, the below mentioned problems still existed:
- Proper maintenance of database was not possible, thus leading to very little information being maintained.
- Owing to the absence of a centralized authority, it so happened that different centers allotted similar number to various tax payers.
- Since, the Pan card carried the holder’s address and it varied depending upon any kind of change in the holder’s residential address, the GOI failed to issue a permanent number to the tax payers.
Keeping the above difficulties in mind, and in order to overcome these difficulties, PAN in its current form was introduced by the GOI and made mandatory under section 139A of the Income Tax Act, 1961.
Applying for a PAN Card through UTIITSL website
PAN Card can be applied for online at the existing NSDL website or by visiting nearby PAN agency available at district level. New PAN card can be applied for by duly filling and submission of Form 49A. Customers can apply for a new PAN or also make applications for any kind of rectification of information required in the existing Card.
The tax payer may also apply for obtaining copy of the PAN card in special situations such as loss or misplacement of the existing PAN Card. Even foreigners and NRI’S may apply for a PAN Card, however, the process of PAN application may vary in this case from that of an Indian taxpayer.
Separate application forms are available for reprinting of PAN as well as application of new PAN Card.
The user may also trail the status of his/her PAN application by using the acknowledgement number provided to him/her by the NSDL.
The taxpayer may apply for a PAN card via National Securities Depository Limited (NSDL) or via UTI Infrastructure Technology and Services Limited (UTITSL). PAN card applications may be made both online as well as offline.
Applying for PAN Card online:
The tax payer may apply for the PAN Card online in the below mentioned process:
- The tax payer will have to log on to the TIN NSDL or UTITSL website and click on the ‘New Pan’ Tab. Irrespective of the category (NRE/NRI/OCI individuals or Indian citizens) he/she is then required to select Form49A.
- The details of the tax payer such as full name, residential address, birth date, gender, contact number and other such relevant details as requested in the form has to be duly filled by the tax payer.
- Post completion of the form filling process, the tax payer has to submit the form and submit the required processing fee.
- A printout of the page carrying the fifteen digit acknowledgment has to be taken and duly signed by the tax payer in the provided space.
- Passport size photographs of the tax payer has to be affixed on the acknowledgement and identity proof along with residential address proof and demand draft( if payment is being made via DD, it has to sent to the NSDL office via post within 15 days of the submission of the online application form date).
- The NSDL will then issue the PAN Card to the tax payer within a period of 15 working days.
Applying for PAN Card offline:
The tax payer may apply for the PAN Card offline by following the below mentioned process:
- The Tax payer has to download the PAN Card application form from the respective websites or he/she may also choose to collect a copy of the same from nearby UTITSL agents.
- The details of the tax payer such as full name, residential address, birth date, gender, contact number and other such relevant details as asked in the form has to be duly filled by the tax payer.
- Post completion of the form filling process, the tax payer has to submit the PAN form to the NSDL office and give the required processing fee.
- The NSDL will then issue the PAN Card to the tax payer within a period of 15 working days.
Services Offered by UTIITSL
UTIITSL offers some of its key services to the customers to provide one stop solution on its website. Below mentioned are some of the services offered by UTIITSL:
1. PAN Card Services:
The Income Tax Department of India has under the supervision of Central Board of Direct Taxes (CBDT) has outsourced PAN related services to UTIITSL. The services provided by UTIITSL for PAN includes:
2. Medical Bill Processing
UTIITSL also provides services related to medical bills and claims which are cleared by Government of India. UTIITSL covers the medical bills and claims for the following people employed:
- a) Central Government Health Scheme (CGHS)
- b) Ex-Serviceman Contributory Health Scheme (ECHS)
- c) Employees State Insurance Corporation (ESIC)
- d) Railways
3. Mutual Funds
UTIITSL also reserves services for providing Mutual Fund to its customers. Mentioned below are the services offered under Mutual Funds by UTIITSL:
4. Infrastructure Services
UTIITSL has taken up complete assignments in the sector of infrastructure and services. Mentioned below are the services offered by UTIITSL:
a) Acquisition of Properties
b) Project Management Services
c) Real Estate and facilities for Office as well as residential purposes
d) Disposal of Properties (Sale of Office/ Residential Premises) and others
Applying for a Duplicate PAN Card
In case the tax payer loses or damages his/her PAN Card, then he/she may apply for duplicate PAN card in the following manner:
- The tax payer has to visit the official NSDL website and fill in the relevant details at the ‘PAN Change Request’ form available.
- In case the applicants wish to receive a new card without any changes in the existing PAN card details which has been lost or damaged, then they must not select any box on the left margin, after having filled all the necessary details in the form.
- If no changes are to be made in the new PAN card then the address in the database of ITD will be updated as per the address mentioned in the application form.
- On completion of the above mentioned steps, the tax payer has to submit documents related to his/her identity proof such as a passport or Aadhar number, documents showing address proof of the tax payer such as Voter’s Id or utility bills.
- A Xerox copy of the damaged or the lost card also has to be submitted by the tax payer along with the above mentioned documents. This serves as a proof of issuance of PAN number
- An acknowledgement of the application will be received by the tax payer after paying the nominal fee amount as mentioned on the website. The payment can be made via credit card or debit card or through net banking. With the help of the acknowledgment slip, the tax payer can trail the status of the application.
Points to Remember while Applying for a PAN Card
- Details in the form to be filled have to be same as mentioned in the documents being submitted.
- In order to avoid any kind of rejection of the form the thumb impression should not be attested by a magistrate or notary before submission of the form.
- Correct contact details along with full address should be filled in the form.
- The application form has to be filled in capital letters.
- Any kind of rectification or overwriting in the form has to be avoided.
- Use of initials in the name columns will lead to disqualification of the form.
- In case of loss, theft or any kind of damage to the card, an application for a duplicate card has to be made. The tax payer must not apply for a new PAN Card.
- Identity Proof: Copy of Passport / Voter ID card / Driving License/Aadhaar Card/utility Bills. Any one of these can be submitted as Identity Proof since all of it has the individual’s photograph against his or her name proving the identity of the applicant
- Address Proof: Copy of Ration Card / Electricity or Telephone Bill / Rental Agreement / Passport. The applicant needs to submit any one of the aforementioned documents which state the correct address of the applicant.
- The information provided should be at par with the central database of the NSDL. ANY kind of mismatch between the two may lead to rejection of the form.
Various forms available for PAN Card
Two types of form are available for a PAN Card:
1. Form 49A:
- This form is available for all Indian citizens, irrespective of their being residents or Non residents of India, i.e. even NRI’s can apply for a PAN Card using this form.
- Any kind of organization such as companies, firms whether partnership or sole proprietor, Non Profit organizations (NGO’S), local bodies, trusts etc may also apply for a Pan Card using this form.
- Minors and students may also apply for a Pan Card by submitting Form 49.
2. Form 49AA:
- This form is available for foreign nationals who work in India and pay taxes.
- Limited Liability companies, firms, trusts, Body of individuals and Association of Persons registered outside India also have to fill the form, duly sign it and submit it for tax purposes in the country.
- Overseas Citizens of India (OCI) and Non Resident Entity (NRE) individuals should also use this form for applying for a PAN card.
- Individuals applying for a PAN Card with the help of Form 49AA are also required to submit copies of their passport/OCI/PIO cards along with a valid bank statement belonging to their resident country. These documents will be treated valid for the purpose of identification and address proof of the applying candidate.
PAN Card structure
The card is issued with a Permanent Account Number which is singly allotted to every individual. Certain specific details which are permanent in nature (details which do not change with time) are printed on the card. Allocating a number with these permanent details helps in unnecessary up gradation of the PAN card owing to changes in address, contact number and other such details.
The details printed on the PAN Card of an individual are mentioned below:
- Permanent Account Number
- Full Name of the Applicant
- Father’s name of the PAN cardholder
- Birth Date of the Card holder
- Photograph of the Card Holder
- Signature of the holder
The details printed on the PAN Card of entities other than that of an individual are mentioned below:
- Permanent Account Number
- Full Name of the Applicant
- Date of incorporation.
The information listed on the Pan Card is at par with the information provided by the applicant in the application form. Printing of address on the Pan Card is avoided in order to avoid future changes which might occur as a result of shifting address. Since, it is not possible to list all the information on the Pan Card of organizations, businesses, HUF’S etc, cards are issued to the concerned partners, members, or the directors on an individual level.
Significance of the PAN number
Pan number consists of 9 characters. Each character signifies information of the tax payer. The number on the PAN Card has to be read as mentioned below:
- The first three characters of the PAN are a sequence of alphabets from AAA to ZZZ.
- The fourth character reveals the nature of the tax payer.
- The fifth character stands for the first letter of the tax payer’s surname.
Different kinds of UTIITSL PAN Cards
All the taxpaying entities are mandated to have a PAN Card by the Income Tax Department. Hence, A PAN is issued to every taxpaying entity, be it an Individual, Company or any other such organizations. However, the PAN issued to each entity varies depending upon the nature of the applicant. The details of the various PAN cards are:
- For Individuals:
In case of individuals, the PAN card issued helps the Income Tax department to calculate the total tax amount based on the various financial transactions undertaken by the tax payer in a given year.
- For Companies:
In case of organizations, the Pan card consists of the company’s registration date. The Card doesn’t carry any photograph.
- For Foreign Nationals:
Foreign nationals who want to pursue a venture in India, it is mandatory for them to hold a PAN number. They can do so by filling up form 49AA.
Uses of PAN
Times when PAN card has to be necessarily produced:
- At the time of paying direct taxes
- At the time of registering a business
- At the time of paying Income tax.
- Financial transactions such as:
- Sale/purchase of property worth RS.5 lakh and above.
- Sale/purchase of vehicles excluding two wheelers.
- Payments worth Rs.25000 and above made towards hotel payment.
- For making bank deposits above Rs.50, 000.
- To remit Money outside India through NRE/NRO accounts.