PAN CARD

PAN CARD

Permanent Account Number is a unique identification number issued by the Income Tax Department of India. It serves as a crucial tool for tracking an individual or entity's financial transactions, primarily for tax-related purposes. The PAN is a 10-digit alphanumeric code, and it is used for a wide range of financial activities in India.

Permanent Account Number is one of the most important documents for Indian citizens and is mandatory for various financial and legal activities.

important Points:

1) Tax Filing: PAN is required for filing income tax returns in India. It ensures that an individual’s financial transactions are recorded and monitored by the Income Tax Department.
2) Opening Bank Accounts: A PAN card is often required to open a bank account, especially for accounts that involve large transactions or are used for investment purposes.
3) Financial Transactions: PAN is necessary for high-value transactions such as buying or sellingproperty, making investments in mutual funds or the stock market, and purchasing foreign exchange.
4) Proof of Identity: The PAN card acts as a recognized identity proof in various official and financial matters.
5) Tax Deducted at Source PAN card is required for the deduction of tax at source from salaries, rent, or payments made to individuals or businesses.

Required Documents for Pan Card

1) Copy of Adhar Card
2) Mobile No.
3) Email ID

Pan Card aplication Methods

1) Physical Mode : (Applicants has to submit the printed signed application forms at nearest UTIITSL offices)
2) Digital Mode : (Applicants does not need to submit physical copy and Application forms will be signed using Aadhaar based eSignature or Dsc mode )
3) Aadhaar based e-KYC option ( Application will be processed through eKYC mode and document will be signed using Aadhaar based eSignature)
4) eSign Mode (Application will be signed using Aadhaar based eSignature)
5) DSC Mode (Application will be signed using Class II / Class III DSC of Indian CCA)

PAN Types:

1) Individual PAN :- Individuals (citizens, residents, etc.)
2) HUF PAN Hindu :- Undivided Family (Head of the Family)
3) Company PAN :- Corporates, companies, partnerships
4) NRI PAN Non :- Non-Resident Indians
5) Foreigner PAN :- Foreign nationals in India