What is a PAN card number and is it similar to an SSN in the US?

What is a PAN Number?

PAN (Permanent Account Number) is a number by which a person can be identified. A PAN number is assigned by the Department of Income Tax and is comparable to a Social Security card used in the US Each person has a unique ten-digit alphanumeric number that is written on a card with their photo .

It is becoming mandatory for everyone in India to get a PAN.

It is mandatory to mention that you are PAN when:

Talk to the IT Department about anything

By paying any taxes owed to the IT Department.

When investing in India: Stock Market or Real Estate.

When opening a bank account, obtaining loans, applying for a visa, etc.

Gold to carry out any type of financial transaction in India.

Permanent Account Number Utility: PAN

If a PAN is written on all important documents, it would be easy to locate a person involved or a person with authority over the person involved. When a person has a PAN, the credit owed to them for the payment of taxes can be given quickly. If a PAN is entered into all banking transactions, IT may have the power to control undisclosed transactions and unregulated transactions.

Track the status of your PAN card online.

There is a tracking system enabled on the web that allows PAN applicants to enter their data and find out the status of their PAN. Whichever step in the PAN development process your PAN is at will show up. This is very useful until you get your PAN card.

How can a person obtain PAN – Permanent Account Number?

There is a specific request called form 49A that must be completed in its entirety and presented at any of the PAN Income Tax Service Centers. There are many centers all over India which were established by UTIISL and NSDL.

There are some good private brokers who help to apply for PAN cards for NRIs – Non-Resident Indians, PIOs – People of Indian Origin and OCI – Overseas Indian Citizenship Holder.

On July 1, 2003, PAN Income Tax Service Centers began to be installed in all cities where there is an Income Tax Department. In larger cities, there is more than one center so people don’t have to travel as far. The addresses of these Centers can be found on the IT Department website or in the IT Office.

The PAN Income Tax Service Centers assist you in many different ways:

ยท They give you PAN requests and return them to you when you’re done.

They help fill out applications correctly.

They review your documents that you provided as proof of identity and as proof of address.

They help to make the necessary changes in the details of the PAN cards.

They help with lost PAN cards.

If you decide that you will not use the help provided by the IT PAN Service Centers, you should be aware that they will not accept any incorrect or incomplete applications. When the UTIISL set up these centers, they created a way for the date of the PAN applications to reach the IT Department. The IT Department will then assign the PAN and send it to the UTIISL for them to make a PAN card. Finally, after the PAN card is made, it is delivered to the PAN applicant.

Tips for filling out the PAN Application!

In order for the process of obtaining a PAN to be as quick and painless as possible, the form must be completed completely and correctly and the necessary supporting documents must be attached.

If you need a company PAN:

* It is necessary to know the Date of Incorporation.

* It is necessary to know the Registration Number.

* You need to know the start date of the business.

* It is necessary to have the Full Name of two or more Directors of the Company.

* You must know the names and addresses of the company’s branches.

Having all of the information mentioned above is a must if you need a company PAN. The IT Department will not assign a PAN without this information.

If you need an individual PAN:

* It is necessary to know the Full Name of the Applicant.

* It is necessary to know the Full Name of the Applicant’s Father.

* You need to know the Applicant’s Date of Birth.

* You must know all sources of income of the applicant.

Having all the information mentioned above is a must if you need an individual PAN.

The IT Department will not assign a PAN without this information.

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