What Is Pan Card Use?

How can I know where my PAN card is used?

Unfortunately, you may get to know of the illegal use of your PAN number only six months after the transaction.

Once you do, you can check for benami transactions by going through Form 26AS, which is a consolidated statement of tax deducted, along with other details..

Can below 18 years apply for PAN card?

A minor cannot apply for PAN card herself directly. Parents, guardians or a representative assessee has to apply on her behalf. The form to use is form 49A (which is the same one that adults also have to use). … Once a minor turns 18 years, you can update the PAN with the child’s photograph and signature.

What is the difference between e PAN card and normal PAN card?

According to the department, e-PAN is a PAN card with a digital signature and is issued in an electronic format. One can get an e-PAN by using Aadhaar e-KYC. … This number is generated once the online PAN application is successfully submitted. This number can also be used to keep a tab on e-Filing Portal.

WHAT IS FULL NAME IN PAN card?

Permanent Account NumberHowever, on the PAN card, your name will appear in the sequence of ‘First name Surname’. The Permanent Account Number (PAN) card is an important document for conducting even the most simplest of financial transactions like opening a savings bank account, applying for a debit/credit card and so on.

What is the age eligibility for PAN card?

The minimum age limit for applying for a PAN card is 18 years. Can a Student Apply for a PAN Card? Students can apply for a PAN card as long as they are above 18 years of age. In case you are a minor (younger than 18 years old), your parents can apply for the PAN card on your behalf.

What is Pan and its importance?

The Permanent Account Number (PAN) card, issued by the Income tax Department, is one of the most important documents nowadays. Uses Of Pan Card. The card was issued in order to prevent tax evasion by individuals and entities as it links all financial transactions made by a particular individual or entity.

What is Pan card validity?

How long is the PAN card valid? The PAN is valid for lifetime.

Why is PAN card necessary for bank account?

PAN card is a compulsory Government document which is needed in most of the financial transactions. The Income Tax Department made it mandatory to link bank account with PAN. The main reason for linking PAN card with a bank account is that in case of income tax refunds, it will be credited easily to the bank account.

How can I get a pan in 2 days?

How To Get PAN Card Within Two Days?Step 1: Log in to NSDL website. Visit the NSDL website (https://nsdl.co.in/) and select the appropriate form from the options provided. … Step 2: Select the type of form. … Step 3: How to submit the application for PAN? … Step 4: Track the status of your application. … Step 5: Get the PAN card within 48 hours.

Is PAN card required for debit card?

Pan card is necessary for opening an account with banks and making some of financial transactions. ATM is used for taken money from any places. PAN card is required documents for applying all types of certificate that related to the money transactions.

What is the fee for PAN card?

Rs. 93The charges for applying for PAN is Rs. 93 (Excluding Goods and Services tax​) for Indian communication address and Rs. 864 (Excluding Goods and Services tax) for foreign communication address. Payment of application fee can be made through credit/debit card, demand draft or net-banking.

Is PAN card necessary for students?

The government of India has made it mandatory for all the individuals to possess a PAN card that includes a PAN card for students as well. This can act as an identity proof and can also be used for taking education loan for the students to further study domestic or abroad.

What is the meaning of PAN card?

permanent account numberA permanent account number (PAN) is a ten-character alphanumeric identifier, issued in the form of a laminated “PAN card”, by the Indian Income Tax Department, to any “person” who applies for it or to whom the department allots the number without an application. … A PAN is necessary for filing income tax returns.

Is it safe to give PAN card details?

Usually when you are investing money or taking loan or credit card, your PAN number is required. … So in terms of SAFE, yes its safe, until its given on a site, where PAN is a important/key requirement. With PAN the most accessible data is your Past Records of loans etc. But with PAN no body can access your bank account.

What information can be obtained from PAN card?

These transactions include tax payments, tax deducted at source/tax collected at source credits, returns of income/wealth/gift, specified transactions, correspondence and so on. PAN, thus, acts as a unique identifier of persons for the tax department.