Tillie Doyle
The Permanent Account Number (PAN) is a 10-digit alphanumeric identification number issued by the Indian Income Tax Department to Indian citizens, non-resident Indians (NRIs), and foreign citizens. It serves as an important proof of identification and is mandatory for all tax-paying individuals and entities in India. While multiple PAN cards have been obtained fraudulently, the government has made it clear that individuals are only permitted to hold one PAN card. Applicants must submit their personal and contact details, documents, photos, and signatures, and pay the required fees to obtain a PAN card.
| Characteristics | Values |
|---|---|
| Number of PAN cards allowed per person | 1 |
| Number of PAN cards allowed per business | 1 |
| Penalty for multiple PAN cards | Heavy fines or jail time |
| Application process | Online or offline |
| Application form for Indian citizens | Form 49A |
| Application form for foreign citizens | Form 49AA |
| Application fee | ₹107 in India, ₹989 outside India |
| Time taken to issue PAN card | 7-10 working days |
| Time taken to issue PAN number | 48 hours |
| Validity of e-PAN | Same as physical PAN card |
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What You'll Learn
It is illegal for an individual to hold multiple PAN cards
In India, the Income Tax Department issues a PAN (Permanent Account Number) card, which is a physical or digital card containing a unique 10-digit alphanumeric character. The PAN acts as an identity proof for individuals or entities and is mandatory for all persons who pay taxes in India and carry out financial transactions in the country.
There are several reasons why a person may end up with two PAN cards. One reason could be that they need to make changes or corrections to their existing PAN card data, such as a change of address or name, and instead of applying for a correction, they apply for a new PAN. Another reason could be that they apply for a PAN card but do not receive it within the stipulated time, so they reapply and end up with multiple PANs. In some cases, people may intentionally apply for a new PAN card to try to cheat the government for tax evasion, which can lead to penalties and punishable acts.
If you have two PAN cards, you should surrender one of them to the Income Tax Department. This can be done both online and offline, and if done voluntarily, you will not be prosecuted.
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How to surrender a duplicate PAN card
In India, it is illegal for an individual to hold multiple PAN cards, and doing so may attract a penalty of ₹10,000, as per the law set by the Government of India. Hence, if you have more than one PAN card, you must surrender the additional ones.
To surrender a duplicate PAN card, you can apply for surrender offline and online. Here are the steps for both processes:
Online:
- Visit the official website of NSDL (National Securities Depositories Limited).
- Select the 'Changes or Correction in existing PAN data/ Reprint of PAN card' option from the 'Application Type' drop-down menu.
- Fill in the necessary details, including personal information such as full name, date of birth, mobile number, email, and PAN.
- Submit the form and receive a new token number via email.
- Upload the required documents, such as proof of identity and address.
- Pay the fees, if applicable, and submit the form.
- An acknowledgement slip will be generated upon successful payment.
Offline:
- Fill up Form 49A for 'Change or Correction in PAN'.
- Mention the PAN number you wish to surrender in Item 11 of the form.
- Submit the completed form to the nearest PAN centre or NSDL Office Address mentioned on the form.
- Print out the acknowledgement and send it to the NSDL Office along with any necessary documents.
- Once the request is processed, you will receive a notification.
Other Reasons for Surrendering a PAN Card
While it is generally recommended to retain your PAN card as it serves as a valid form of identification and is required for financial activities, there are certain scenarios where surrendering the PAN card is necessary:
- Death of the PAN Cardholder: In the event of the death of a PAN cardholder, their relatives can write a letter to the Income Tax Officer of the respective jurisdiction to surrender the card. The letter should include the reason for surrender, details of the deceased (name, PAN card number, date of birth, etc.), and the death certificate.
- Relocating Outside India: If an individual is permanently relocating outside of India and will no longer be paying taxes to the Indian government, they may choose to surrender their PAN card.
- Dissolution of a Company/Firm/Partnership: In the case of the dissolution of a company, LLP, or partnership firm, the authorised persons can appeal to cancel the PAN card associated with the entity.
It is important to note that the process of surrendering a PAN card may take around 10-15 days, and once the cancellation is accepted, the individual will receive a confirmation message.
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Applying for a PAN card: online and offline
In India, a penalty of ₹10,000 can be levied for possessing more than one PAN card. The PAN card is a crucial piece of identification that serves as proof of identity and records all tax-related information for an individual.
Applying for a PAN Card Offline
To apply for a PAN card offline, you can follow these steps:
- Obtain the PAN card application form ('Form 49A for Indian citizens' or 'Form 49AA for foreign citizens') from a PAN centre or download and print the form.
- Fill out the form, providing personal details, contact information, and address.
- Attach a recent colour photograph and add your signature to the form.
- Gather and attach the required supporting documents.
- Visit the nearest PAN centre and submit the completed form along with the documents.
- Pay the required fees.
Applying for a PAN Card Online
Alternatively, you can apply for a PAN card online through the official NSDL portal or the Protean Online PAN Services Portal:
- Select the application type (new PAN card, changes/corrections, etc.) and category (Indian citizen/NRI or foreign citizen).
- Choose the mode of submission of documents and whether you require a physical PAN card.
- Enter your personal details, document details, contact information, parents' details (if applicable), and address.
- Upload the required documents and verify the information on the form.
- Pay the processing fee online.
- Take a printout of the form and send it, along with the required documents, to the designated offices in Mumbai, Kolkata, Chennai, or New Delhi.
Please note that the online application process may vary slightly depending on the portal used, and specific instructions should be followed for each portal. Additionally, foreign citizens may find the online mode of application less convenient due to the requirement to send signed physical documents to India-based centres.
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The PAN card fees
The Permanent Account Number (PAN) card is issued by the Indian Income Tax Department. It is a 10-character alphanumeric identifier issued in the form of a polycarbonate card or a PDF file (known as an e-PAN). It serves as an important proof of identification and is mandatory for all persons who pay taxes in India and carry out financial transactions in the country.
PAN Card Fees
The fees for a PAN card vary depending on the applicant's residential status and the mode of submission of the application. The application fee for Indian residents is Rs. 91 (excluding Goods and Services Tax) for an Indian communication address, while for foreign applicants, it is Rs. 862 (excluding Goods and Services Tax) for a foreign communication address.
For applicants submitting their applications through PAN centres, the fee for Indian residents is Rs. 107 for physical cards and Rs. 72 for e-PAN. On the other hand, the fee for foreign applicants is Rs. 1,017 for physical cards and Rs. 72 for e-PAN.
It is important to note that the fees for reprinting or duplicate PAN cards are different. The fee for reprinting a PAN card with no changes in PAN details is Rs. 50 for an Indian address and Rs. 959 for a foreign address. When changes are required in the PAN card details, the fee is the same as the fee for a new PAN card.
The mode of payment differs for applicants residing within India and those residing outside. Applicants residing within India can pay via credit/debit cards, demand drafts, or net banking. However, it is important to note that additional charges may apply for payments made through cards, with banks charging an extra 2% on the application fee. For payments by demand draft, it should be made payable to "NSDL-PAN" in Mumbai. Net banking payments will incur a surcharge of Rs. 4 plus service tax.
For applicants residing outside India, the same modes of payment are available, but they will need to pay the applicable conversion or exchange rate levied by the bank.
It is important to double-check the details provided in the application and ensure the exact fee amount is paid, as PAN card fees are non-refundable. The Government of India allows someone other than the applicant to pay the fee on their behalf. Additionally, there are no charges for obtaining an instant e-PAN through the Income Tax Department's e-filing portal using an Aadhaar number.
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The uses of a PAN card
In India, a PAN card is a vital identification document issued by the Income Tax Department to all taxpayers. It is a 10-digit alphanumeric code that acts as a primary key for financial transactions and identity proof. It is mandatory for banking, tax filing, and business registration. Here are the detailed uses of a PAN card:
Identity Proof
The PAN card acts as an identity proof of an individual or entity. It is a unique 10-digit alphanumeric character, with the PAN card being a physical or digital card containing the PAN and other important information about the individual, such as their name, date of birth, and address. The PAN card can be used as proof of identity for various purposes, such as opening a bank account, applying for a loan, or renting a property.
Financial Transactions
The PAN card is a crucial document for financial transactions in India. It is mandatory for bank deposits above Rs. 50,000 in a single day and for all bank transactions exceeding Rs. 10,000. The PAN card is also required for purchasing property and vehicles (except two-wheelers). It serves as a key identifier for the tax department, facilitating the linking of various financial documents such as payment of taxes, tax arrears, and tax demands to an individual or entity.
Tax Filing and Compliance
The PAN card is essential for tax filing and compliance in India. All tax-related information of an individual or entity is recorded against their PAN. It is mandatory to link the PAN with the Aadhaar number for e-KYC and verification to avail of services and benefits from service providers. The e-KYC process is paperless and enables secure and efficient information sharing between service providers and PAN cardholders.
Business Registration
For those engaging in business activities in India, a PAN card is necessary for business registration. It helps establish the identity of the business entity and facilitates compliance with tax and regulatory requirements.
Other Uses
In addition to the above, a PAN card can be used for various other purposes, such as applying for a passport, opening a demat account, or availing of government services. It is also useful for non-resident Indians (NRIs) who need to carry out financial transactions in India.
It is important to note that while a PAN card has extensive uses, it is illegal to hold multiple PAN cards and it may attract a penalty. Each individual or entity should possess only one PAN number, and any changes or corrections to the PAN card details should be made through the official process rather than by applying for a new PAN card.
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Frequently asked questions
According to the Government of India, an individual is only permitted to hold one PAN card. Individuals with multiple PAN cards may be heavily penalised or even jailed.
PAN stands for Permanent Account Number. It is a 10-digit alphanumeric identification number issued by the Indian Income Tax Department to Indians, primarily to those who pay taxes. It is mandatory for all persons who pay taxes in India and carry out financial transactions in India.
You can apply for a PAN card online or offline. You can download Form 49A for Indian citizens or Form 49AA for foreign citizens, fill out the form, and submit it along with the required documents and fees at a PAN centre or online.
