PAN card is an essential government document, which is used to open bank account, file tax return, make any financial investment or any financial related activity. As the PAN card contains the identity details of the cardholder, this card is also very important as a KYC document. There are more than 70 crore PAN card holders in India. The article discusses in detail what it takes to make a new PAN card, PAN card status check, download and Aadhaar card link.
What is pan card
PAN card is a permanent account number issued under the Indian Income Tax Act, 1961. This card contains the card-holder’s name, date of birth, photograph, signature and a 10-digit alphanumeric unique code, which is generated by a computer. This card does not need to be renewed i.e. it is valid for lifetime just like voter card. The digital format of this card or e-PAN can be downloaded in PDF format from the Income Tax Department of India website.
This card was first introduced in 1972 by the Ministry of Finance, Government of India mainly to facilitate calculation of various information such as tax payment, assessment, tax demand, tax due etc. and at that time this card was optional. It was subsequently made mandatory for all taxpayers in 1976.
All the bank accounts of the card holder are linked with the PAN card, so it can be used as a witness of all the financial transactions to easily check financial balances, income tax etc.
PAN Card Rules
A PAN card is mandatory for all taxpayers in India and any business or profession with an annual turnover exceeding Rs 5 lakh.
Besides, PAN card is mandatory for the following financial transactions:
- Bank account opening
- Sale or purchase of any immovable property worth five lakh rupees or more
- Purchase or sale of any motor vehicle
- One time bank deposit above ₹50,000/-
- Deposits above ₹50,000/- in any Post Office Savings Bank account
- Agreement for sale or purchase of securities worth more than one lakh rupees
- To establish a landline telephone connection
- Payment of bills exceeding ₹25,000/- in hotels or restaurants
- Payment of ₹50,000/- or more in one day by bank draft or pay order or banker’s cheque.
- One time payment of ₹25,000/- or more in cash during foreign travel
PAN card is not only for single individuals but also a company or partnership firm can have a PAN card.
PAN Card Details
A PAN card contains the card holder’s name, father’s name, date of birth, photograph, signature and PAN i.e. ‘Permanent Account Number’. This PAN is a unique 10 character alphanumeric number, which stores the cardholder’s information such as:
Let’s say, a pan is ACOPD7190F.
- The first three letters ‘ACO’ in the said pane are alphabetical numbers running from AAA to ZZZ.
- The 4th letter ‘P’ of PAN stands for the status of the PAN holder i.e. Person.
- The fifth letter i.e. ‘D’ stands for the first letter of the PAN holder’s surname or surname.
- The next four characters such as “7190” are sequential numbers running from 0001 to 9999.
- The last or tenth character ‘F’ is an alphanumeric number used to verify the validity of the code.
PAN card type
Apart from single person there can be different types of PAN card. They are listed below:
A – AOP (Association of Persons)
Association of persons i.e. the amalgamation of two or more persons or companies for mutual benefit for the purpose of the same type of income.
B – BOI (Body of Individuals)
A Body of Individuals is much like an AOP where two or more individuals work together for earning purposes but does not involve multiple companies.
C – Company
This card is issued for all financial transactions and tax calculations of a company’s business.
F – Firm (Partnership Firm)
It is mandatory for the partners of the partnership firm to file income tax returns and have the PAN card of the partnership firm to prove the existence of the firm.
C – Government
This type of PAN is used in the financial accounting of government agencies.
H – HUF (Hindu Undivided Family)
Hindu undivided family is a separate entity from legal point of view. In this case, the family can have a separate PAN card and run their own business and invest in the share market or mutual funds on the basis of the PAN card of the family members.
J – AJP (Artificial Judicial Person)
AJP is not a person in general sense, a trust or fund etc. is treated as an artificial person for tax assessment purposes.
LA – LA (Local Authority)
Local authorities can apply for a PAN by submitting a copy of their contract or registration certificate.
P – Person
These PAN cards are issued in the name of individual persons. This card contains the cardholder’s name, photograph, permanent account number, father’s name, date of birth, QR code, hologram and signature.
T – Trust (AOP for a Trust)
A trust organization can also be a PAN. In that case the organization has to be registered under the Indian Trust Act.
PAN Card Check Status
After applying for PAN card or updating information you can check PAN card status from NSDL (National Securities Depository Limited) portal or UTI (Unit Trust of India) portal.
NSDL (National Securities Depository Limited)
You can check PAN card status from ‘NSDL’ portal in the following ways:
- You can search Google for ‘NSDL Pan Status’ and click on the first link or you can directly click Pan Card Check Status NSDL.
- Only then you will reach the status check page, where you have to first select ‘Application Type’ and enter the 15 digit acknowledgment number in the ‘ACKNOWLEDGEMENT NUMBER’ box below and fill the captcha and ‘Submit’. Note in this case that you get the PAN Acknowledgment Number in the PAN Acknowledgment Slip and through your e-mail after application.
- After submission, you will reach the status page, where your PAN card number, cardholder name, card type and status can be seen. You will also see the tracking ID of the courier company or ‘Speed Post’ where the card will be sent.
- You can know the status and location of your courier by visiting India Post Track Consignment through the tracking ID.
- By entering the tracking ID in ‘Enter Consignment Number’ and ‘Search’ you can see the complete details of the courier by date and time.
UTI (Unit Trust of India)
You can check PAN card status from ‘UTI’ portal in the following ways:
- You can search Google ‘utiitsl track your pan application’ and click on the first link or you can directly click pan card check status UTI.
- On this page you have to enter ‘Application /Coupon Number’ or if you have PAN card number, fill in the date of birth and captcha below and click on ‘Search’ to see your PAN card status.
PAN card status check by name
If you don’t have Acknowledgment Number then you can also check PAN Card Status with Name and Date of Birth.
- You have to visit the ‘Track your PAN/TAN Application Status‘ page of ‘NSDL’ portal.
- Select ‘PAN’ from ‘Application Type’.
- Then select ‘NAME’ below and enter your title and name.
- PAN card status can be seen by selecting the date of birth below and ‘Submit’.
PAN card status check through phone
You can also check PAN card status through phone call. You have to call the ‘Tax Information Network’ or TIN call center at 020-27218080 and can verify the PAN card update by providing the 15 digit acknowledgment number. However, in this case you are required to work from 7:00 a.m.-11:00 p.m. Call in between.
PAN Card Status Check via SMS
To check PAN card status via SMS you need to SMS to 57575 by writing ‘NSDLPAN’ followed by 15 digit acknowledgment number. Only then the PAN card update status will be informed to you through SMS.
PAN Card Related Questions (FAQs):
Who is eligible for PAN card?
All Indian and foreign nationals can apply for PAN card The minimum age to apply for PAN card is 18 years. However, in case of children below 18 years of age, their parents or guardians can apply for PAN on their behalf.
Is PAN mandatory for everyone?
A person who is involved in any financial transaction or earning money and has an annual turnover of more than five lakh rupees is required to have a PAN card, besides there are many other requirements of PAN card.
What if a person has multiple PAN cards?
As per Section 272B of the Income Tax Act, 1961, it is an offense for a person or entity to have more than one PAN card and shall be liable to a fine of ₹10,000/-.
What happens if the PAN card is lost?
If the PAN card is lost, it should be reported to the Income Tax Department immediately. In that case you can call their helpline or email them with PAN card details. You can apply online for duplicate PAN card after reporting to income tax department.
How much money is required to deposit PAN card?
PAN card is required for one-time cash deposit of more than ₹50,000/- or annual deposit of more than ₹5 lakh in post office or bank account.
What is the use of PAN card?
PAN card is an important document and acts as proof of birth as it mentions date of birth and in many cases PAN card is used along with Aadhaar or Voter ID card. This card is mandatory for individuals and entities eligible for income tax returns.