PAN Card

What Is The Fastest Way To Get A PAN Card? Jan 19, 2019 Alankit We live in an era when a lot of our tasks can be done at a click of a button. The growth of internet and development of online facilities for availing government to citizen services has made lives easier for the people. Once such service implemented for the citizens is the online PAN Card application process by the Income Tax Department, Government of India, under Income Tax Act, 1961. The Permanent Account Number (PAN) is a unique ten-digit alphanumeric number which is issued to all taxpayers. Alankit Limited, which has an extensive experience of two decades, has emerged as a leading e-Governance Service Provider in the industry with presence in over 673 cities across India and four overseas locations. The company offers efficient PAN services and receives PAN application form on behalf of Income Tax Department through various TIN-Facilitation (TIN-FCs) and PAN centers situated in different corners of the country. With Alankit’s robust online facility, the company has brought the service closer to people as they can get a PAN card issued at the comfort of their homes, without any hassles by eliminating some manual procedures. Quick facts about PAN Card • A PAN card is an important identity proof which is mandatory for all existing taxpayers and individuals who file income tax returns, have correspondences with the income tax authorities or engage in financial transactions. • The Permanent Account Number remains the same throughout the lifespan of the PAN holder. • Even non-resident Indians (NRIs) residing outside India must have a PAN Card if they have taxable income, engage in share trading, make investments in immovable properties or mutual funds. • Recently, rules for application of PAN card have been modified December 5th, 2018. They are as follows: • Any firm, trust, body of individuals or association of persons must apply for a PAN by May 31st 2019 (in the event that they do not have one) if they must engage in transactions above Rs. 2.50 lakhs within any given financial year. Exceeding the deadline may result in legal consequences. • Any individual who is a member of such firms like managing director, partner, officer, or office bearer a.k.a any individual competent enough to act on behalf of the firm must hold an individual PAN by May 31^st, 2019. This will ensure tracking of sources of incomes for members of firms rove their legitimacy and keep track of their taxes. • For individuals whose mothers are single parents, mentioning a father’s name will not be mandatory. The revised PAN application forms will provide an option asking whether individuals prefer their father’s names or mother’s names to be listed on their PAN cards. How to get a PAN card? The foremost step to avail a PAN card is to make application either through the online portal or by visiting the nearest TIN-FC or PAN centers of Income Tax Department in your city to submit the application form. Applicants should note that there are two types of PAN application forms as mentioned below: • Form 49A • Form 49AA The first one is a PAN card application form required by Indian Citizens and Indian companies within India for issuance of new PAN Application. That is, new applicants who do not have a PAN already and want to apply for a fresh PAN can use this form. The form is also applicable for those applicants who are existing PAN holders who need to have a new PAN card or make changes or corrections in their personal details like, name, DOB, address or contact info in the I-T Department records. The second one is an application form which should be used for entities and individuals outside India. In addition to filling the form, the applicants must also submit the documents for verification which include Proof of identity (POI), Proof of address (POA) and photograph. These documents also depend on the citizenship and status of the applicant. These forms are available online and can be downloaded or can be taken by visiting at the TIN-FCs and PAN centers. Catering to thousands of customers on a regular basis, Alankit has adopted a contemporary system which makes delivery of the PAN Service easy and error-free. The application forms obtained from the TIN FCs are digitized by Alankit and forwarded to Income Tax Department which then issues the TAN letter to the applicant as per the TAN allotted to it through ITD. After successful completion of the processing of PAN application form which is submitted with eligible documents, the PAN is issued within five working days by the Income Tax Department and the PAN Card is dispatched within two weeks of the issuance of the PAN. However, in case of changes or corrections done in the PAN card it is dispatched within 25 days.

What Is The Fastest Way To Get A PAN Card?

Jan 19, 2019 Alankit

We live in an era when a lot of our tasks can be done at a click of a button. The growth of internet and development of online facilities for availing government to citizen services has made lives easier for the people. Once such service implemented for the citizens is the online PAN Card application process by the Income Tax Department, Government of India, under Income Tax Act, 1961. The Permanent Account Number (PAN) is a unique ten-digit alphanumeric number which is issued to all taxpayers.

Alankit Limited, which has an extensive experience of two decades, has emerged as a leading e-Governance Service Provider in the industry with presence in over 673 cities across India and four overseas locations. The company offers efficient PAN services and receives PAN application form on behalf of Income Tax Department through various TIN-Facilitation (TIN-FCs) and PAN centers situated in different corners of the country. With Alankit’s robust online facility, the company has brought the service closer to people as they can get a PAN card issued at the comfort of their homes, without any hassles by eliminating some manual procedures.

Quick facts about PAN Card

• A PAN card is an important identity proof which is mandatory for all existing taxpayers and individuals who file income tax returns, have correspondences with the income tax authorities or engage in financial transactions.

• The Permanent Account Number remains the same throughout the lifespan of the PAN holder.

• Even non-resident Indians (NRIs) residing outside India must have a PAN Card if they have taxable income, engage in share trading, make investments in immovable properties or mutual funds.

• Recently, rules for application of PAN card have been modified December 5th, 2018. They are as follows:

• Any firm, trust, body of individuals or association of persons must apply for a PAN by May 31st 2019 (in the event that they do not have one) if they must engage in transactions above Rs. 2.50 lakhs within any given financial year. Exceeding the deadline may result in legal consequences.

• Any individual who is a member of such firms like managing director, partner, officer, or office bearer a.k.a any individual competent enough to act on behalf of the firm must hold an individual PAN by May 31^st, 2019. This will ensure tracking of sources of incomes for members of firms rove their legitimacy and keep track of their taxes.

• For individuals whose mothers are single parents, mentioning a father’s name will not be mandatory. The revised PAN application forms will provide an option asking whether individuals prefer their father’s names or mother’s names to be listed on their PAN cards.

How to get a PAN card?

The foremost step to avail a PAN card is to make application either through the online portal or by visiting the nearest TIN-FC or PAN centers of Income Tax Department in your city to submit the application form.

Applicants should note that there are two types of PAN application forms as mentioned below:

• Form 49A

• Form 49AA

The first one is a PAN card application form required by Indian Citizens and Indian companies within India for issuance of new PAN Application. That is, new applicants who do not have a PAN already and want to apply for a fresh PAN can use this form. The form is also applicable for those applicants who are existing PAN holders who need to have a new PAN card or make changes or corrections in their personal details like, name, DOB, address or contact info in the I-T Department records.

The second one is an application form which should be used for entities and individuals outside India.

In addition to filling the form, the applicants must also submit the documents for verification which include Proof of identity (POI), Proof of address (POA) and photograph. These documents also depend on the citizenship and status of the applicant. These forms are available online and can be downloaded or can be taken by visiting at the TIN-FCs and PAN centers.

Catering to thousands of customers on a regular basis, Alankit has adopted a contemporary system which makes delivery of the PAN Service easy and error-free. The application forms obtained from the TIN FCs are digitized by Alankit and forwarded to Income Tax Department which then issues the TAN letter to the applicant as per the TAN allotted to it through ITD. After successful completion of the processing of PAN application form which is submitted with eligible documents, the PAN is issued within five working days by the Income Tax Department and the PAN Card is dispatched within two weeks of the issuance of the PAN. However, in case of changes or corrections done in the PAN card it is dispatched within 25 days.