The Income Tax Department of India issues PAN cards, or Permanent Account Number cards, which are special identification numbers. For a variety of financial and non-financial transactions, it acts as an essential form of identity verification. These are a few of its main applications:
An individual’s IT transactions are organized together under their PAN number, a 10-digit alphanumeric code. payments for taxes, TDS/TCS credits, and other such financial transactions.
Uses Of Pan card
Income Tax Return Filing: In India, income tax returns must be filed using a PAN. It allows the government’s tracking of taxable financial transactions involving people and businesses.
Financial activities: A PAN is needed for a number of financial activities, including opening a bank account, making stock investments, purchasing or disposing of real estate for a sum in excess of a certain amount, and more.
Banking: In order to open bank accounts, apply for loans, and carry out high-value transactions, PAN is required.
Buying Assets: PAN is required when buying valuable assets over certain levels, including jewels, cars, and other valuables.
Investments: Investing in stocks, bonds, mutual funds, debentures, and other financial instruments requires a PAN.
Insurance: In order to purchase insurance plans with premiums over a certain amount, PAN is necessary.
Government Services: To apply for government jobs, get government subsidies, and take part in government-sponsored programs, you must have a PAN.
Identity: For a number of non-financial operations, including applying for a passport, getting a mobile phone connection, and signing up for specific exams, PAN is a valid form of identification.
PAN Card Definition: Meaning of Each Digit and Number
PAN has a typical format of AAPFA3421J. The first three characters. (AAP) There is an alphabetical series between AAA and ZZZ in the number above.The 4th character,F represents the PAN holder’s status. Like ‘T’ represents Trust, ‘F’ for Firm, ‘H’ for HUF, ‘P’ for Individual, ‘C’ for Company etc.The 5th character, i.e. ‘A’, represents the first alphabet the PAN holder’s last name. The next four characters are sequential numbers from 0001 to 9999. The alphabetic check digit “D,” which is the tenth character, goes from A to Z.
How To Download Your e-PAN Card
Downloading e-PAN from the NSDL portal:
- For further information, please visit https://www.onlineservices.nsdl.com/paam/requestAndDownloadEPAN.html.
- Acknowledgment Number and PAN are the two alternatives available on the homepage.
- In the PAN option, enter your 10-digit alphanumeric PAN card number.
- Type in your date of birth, Aadhaar number, optional GSTN, and catch code (available only to individuals).
- Check the acceptance box when you’ve read the instructions.
- Click the Submit button now.
- Your e-Pan card’s PDF will show up on the screen.
- To download e-PAN, you can also utilize the acknowledgement number that was provided to you for your PAN card application.
- You need to enter the captcha code, your date of birth, and your acknowledgement number.
- Click the Submit button now.
- Your e-Pan card’s PDF will show up on the screen.
- Next, choose the ‘download PDF’ option to start downloading the e-PAN right away.
