Looking for a PAN card? Allow us to help you to walk through the process of generating your PAN Card and take advantage of its benefits.
The ten-digit alpha-numeric number allotted by the income tax department to you is the PAN Card. It is an important element if you are undertaking financial transactions like receiving a salary, buying or selling of assets above specified limits, and for day-to-day transactions. Hence, it clears the myth that PAN Card is required only for those who earn taxable income, and that is why it is essential to know, how to apply and what benefits it generates from its use.
With Alankit, it has become easy for you to apply for the PAN Card as our professionals are always happy to brief you about the process, and you can always connect with us to resolve your queries. No longer you have to wait in queues or face un-answered follow-ups, now applying nsdl PAN is just a few clicks away if you have relevant documents:
- Proof of Identity (POI)
- Proof of Address (POA)
Your identity & address proof including your Voter ID Card, Aadhaar Card, Driving License, Passport Copy, or any other relevant documents associated with you identity are required.
You can always download the form through our website where forms related to PAN Services and its correspondent applicant is elaborated for your convenience:
- Form 49A: Which the Indian citizens, entities incorporate in India & Indian companies and unincorporated entities formed in India can file.
- Form 49AA: Which the Foreigner can file.
The above mentioned forms are related to the first-time applicant of PAN Card and can be submitted to any PAN Center managed by Income Tax Department. So, if you are looking to download PAN Card online then we will lead you to the steps which are easy and convenient for you to access.
There is a possibility that you can find an error in your PAN Card, and it has been observed that the most common errors are spelling mistakes, date of birth, change in residential address, we may see it as a minimal error but these can create a hindrance in further documentation and bank-related process. If you wish to change any or add new information then you can always approach the PAN Centre/Online for the Correction Form (Form 49A).
One can get a PAN Card but one must understand the benefits it comes along with:
- Income Tax Returns Filing:
You need a PAN Card if you are eligible for Income Tax and are expected to file your ITR and this makes it the primary reason why you need to apply for one.
- Identity Proof:
Along with Aadhaar Card, Voter Card, PAN Card also serves as valid identity proof which is accepted by all financial institutions and other organisations.
- Tax Deductions:
It is essential to link your PAN Card with your bank account to reduce TDS from 30% to 10%.
- Opening a Bank Account:
It has been made mandatory for every individual & organisation to have a PAN Card registered in its name to open a savings or current account.
- Tax Refunds:
You can claim the excess tax paid refund if you have your PAN Card linked to your bank account because many times the TDS deducted from your income is more than the actual tax that you are supposed to pay.
- Business Inauguration:
If you are thinking to start a company and looking for Tax Registration Number (TRN), then you should download your PAN Cardin the name of your entity.
- Sale and Purchase of Assets
If you wish to enter into transactions of sale or purchase of assets and if your deal is quoted same or more than 10Lakh rupees then you need to have a PAN Card to confirm your eligibility.
So it is always beneficial to have a PAN Card and we at Alankit are here to assist you in the best possible ways to generate and avail the benefits.
Also Read: How to check your PAN CARD application status