Permanent Account Number PAN was introduced to make India's financial, taxation, and taxpayers' identification. It helps for tax purposes, banking services, securities, insurance, loans, and retirement planning.
The PAN card was introduced in 1972, but it was made mandatory on 1 June 1996, after the amendments to section 139A. All the PAN cards are now mandatory to issue across India, and extended nationwide by 11 February 1998.
A PAN card is an Identification document issued to an individual to manage financial and taxation activities in India. It contains the name of the cardholder, the father's name of the cardholder, number 10-digit alphanumeric permanent account number, signature, date of birth, photograph, and an Indian hologram with an Income Tax department tag.
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A PAN card is an important document for filing ITR, for investments in mutual funds, stocks, and for various banking services. If you are an NRI, then it is mandatory...
No, an NRI is not eligible to obtain an Aadhaar card in India, as per Section 139AA(2). However, the Income Tax Department has mandated that NRIs update their residential status...
AO code full form is Assessing Officer, it is an area code that includes the area code, Ao type, Range code, and Ao number of the assessing officer. It is...
If you checked the PAN card application status and it says no match found, then it means your PAN application has not reached the PAN issuing authority. In these cases,...
Yes, there were some charges that a PAN card applicant needs to pay a fee of INR 93, along with GST for a single applicant. If there is a situation...
A PAN card is a crucial document required for smooth financial transactions and identification purposes. This document is issued by the Income Tax Department of India. It is a 10-digit...
The processing time for the PAN card application is around 15-20 days. However, the processing may be delayed due to the high number of applications, verification of documents, and if...
Yes, you can apply for a new PAN card application for affixing the old PAN card by entering all the details in the online application and paying the required fees...
To apply for a PAN card, you need to fill out the application form, which is of two types. One is PAN Form 49A, which is used by Indian citizens,...
Here are the fees for the online PAN card application with different modes of submission. The application fee for the physical PAN card submitted at the TIN or PAN centers...
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Here is the history of the evolution of the PAN card in India. In 1972, the concept of the PAN card was introduced. In 1995, Amendments to section 139A made it mandatory for all Indian nationals nationwide to have a PAN card by 11 February 1998. In 2004, the Tax Information Network (TIN) was launched to provide electronic submission of tax deductions at source (TDS). In 2013, KYC was introduced to make the PAN application process easier. In 2017, linking PAN and Aadhaar is mandatory. In 2020, Finance Minister Nirmala Sitaraman, on 28 May 2020, made KYC based on an Aadhaar number. In 2024, PAN 2.0 is introduced.