Simplified PAN Card Services for OCI & NRI's

Key Features and Structure of a PAN Card

➜ Information Displayed on a PAN Card

• 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.

➜ How the PAN Number Is Structured

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 Cards We Assist With

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.

➜ For Individuals (Residents and Non-Residents)

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.

➜ For Indian Companies and Partnerships

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 to apply for PAN card for NRI online.

➜ For OCI Cardholders and NRIs

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.

➜ For Foreign Entities Paying Taxes 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 Indian PAN Card for each type.

Documents Required for PAN Card Application

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:

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 application process. 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.

Step-by-Step Guide to Applying 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.

➜ How to Apply for a 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 required 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.

➜ How to Apply for a 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.

You May Also Like To Read  PAN 2.0: Explained Updates, Features, and More

PAN Card Application Fees

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

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 Track Your PAN Card Application Status

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 and Updates

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.

You May Also Like To Read  How to Apply for a Lost PAN Card

Lost Your PAN Card? Here's How to Apply for Duplicate PAN Card

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 Dont's 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.

Pan Card Eligibility and Document Requirements for Foreign Entities and 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 pan card eligibility criteria and papers that need to be submitted:

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 for OCI, NRIs, and Foreigners

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.

➜ Registering a Business in India

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 in India

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. 50,000 in the bank or buying bonds of Rs. 50,000 or above.

Apart from this, outside India, if you buy mutual fund schemes, insurance policies, or shares above Rs. 50,000 you are required to have a PAN card. Also if the expenses exceed Rs. 25,000 then as well you need the card.

➜ Opening Bank Accounts and Availing Utility Services

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. 

Consequences of Not Having a PAN Card

Well, as stated above a Permanent Account Number (PAN) 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.