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PAN Applications- New, Corrections, and Reprint
The Permanent Account Number (PAN) is a unique 10-digit alphanumeric identifier issued by the Income Tax Department of India. It is mandatory for financial transactions such as tax filing, opening bank accounts, and investing in securities. Individuals, businesses, and entities can apply for PAN for the first time, request corrections to existing PAN details, or apply for a reprint if the card is lost or damaged. These services are facilitated through NSDL and UTIITSL.
Why PAN is Important
1. Why PAN is Important: Essential for filing income tax returns and avoiding penalties.
2. Financial Transactions: Mandatory for high-value transactions like property purchases, investments, and loans.
3. Unique Identification: Ensures transparency and tracking of financial activities.
4. Cross-Border Relevance: Required for NRIs and foreign entities involved in Indian transactions.
5. Government Benefits: Enables access to subsidies, tax credits, and refunds.
Documents Required
For Indian Citizens
For Foreign Citizens
Features
New PanCard
Online and Offline Options
Correction Facility
Reprint Option
Aadhaar Integration
PAN Applications: New, Corrections, and Reprint
Universal Applicability
Cross-Border Accessibility
Secure Processing
Instant e-PAN
Trackable Status
Comparison of New Pancard
| Feature | PAN (New) | PAN Correction | PAN Reprint |
|---|---|---|---|
| Purpose | First-time PAN issuance | Update existing details | Obtain duplicate PAN card |
| Applicability | New applicants | Existing PAN holders | Existing PAN holders |
| Documents Required | Full KYC documents | Updated proof for changes | Minimal (ID proof) |
| Fee | ₹107 (India), ₹1,017 (foreign) | ₹107 (India), ₹1,017 (foreign) | ₹107 (India), ₹1,017 (foreign) |
| Timeline | 7-15 days | 7-15 days | 7-15 days |
Frequently Asked Questions
Can I have multiple PAN cards?
No, it is illegal to possess more than one PAN card.
What should I do if I lose my PAN card?
Apply for a duplicate PAN card (Reprint) via the NSDL or UTIITSL portal.
Can foreign nationals apply for PAN?
Yes, foreign citizens and entities can apply for PAN using Form 49AA.
What is an e-PAN?
e-PAN is a digitally signed PAN card in electronic format, equivalent to a physical PAN card.
How can I update incorrect PAN details?
Submit a correction application with supporting documents through NSDL or UTIITSL.
Is Aadhaar mandatory for PAN applications?
Yes, Aadhaar is mandatory for Indian citizens unless specifically exempted.