PAN APPLICATION PROCESS.pptx ONLINE-OFFLINE APPLYING PROCEDURES

PAN acts as a universal identification key for all financial transactions under the Income-tax Act.It is mandatory for individuals, firms, companies, and other entities to quote PAN in income tax returns, tax payments, and certain financial transactions.

1. PAN CARD APPLICATION PROCESS NAME : DR JENIFER THANGAM J DESIGNATION : ASSISTANT PROFESSOR

2. Meaning PAN acts as a universal identification key for all financial transactions under the Income-tax Act. It is mandatory for individuals, firms, companies, and other entities to quote PAN in income tax returns, tax payments, and certain financial transactions. Legal Provision Section 139A of the Income-tax Act, 1961, deals with the requirement for obtaining PAN. Rule 114 of the Income-tax Rules, 1962 prescribes the application procedure. Who Should Apply for PAN Any person whose total income is taxable. Any business/professional with turnover exceeding the specified limit. Persons entering into certain financial transactions (e.g., buying property above a limit, opening a bank account, investing in securities).

3. Application Procedure Form Used Form 49A – For Indian citizens/entities. Form 49AA – For foreign citizens/entities. Mode of Application Online: Through NSDL (Protean) or UTIITSL websites. Offline: Submit form at TIN-FCs or PAN centers. Documents Required Proof of Identity (Aadhaar, Passport, Voter ID, etc.). Proof of Address (Aadhaar, utility bill, ration card, etc.). Proof of Date of Birth (for individuals). Processing Application fee paid. Verification by the department. PAN card issued in physical and/or e-PAN format. Importance of PAN Needed for filing Income Tax Returns. Required for high-value transactions (property purchase, bank deposits, securities investment). Helps in preventing tax evasion by linking financial activities.

4. Steps to Apply for PAN Card Online One can apply for a PAN card online either through the NSDL portal (now Protean) or the UTIITSL portal. Here are the steps which are to be followed when  applying for the PAN card  using the online mode of application and PAN card registration: Step 1 : Visit the website of NSDL or UTIITSL for online application for PAN card Step 2 : Select the option ‘New PAN’ Step 3 : Choose the PAN card Form 49A or Form 49AA whichever applicable Step 4 : Now fill the individual’s details in the form Step 5 : The applicant would also be required to pay the processing fee online or through a demand draft after submitting the form to initiate the processing of the form Step 6 : After paying the fees and submitting the PAN Form 49A, an acknowledgement slip is generated containing the 15-digit acknowledgement number Step 7 : You can e-Sign the application using Aadhaar OTP authentication or send the application with required documents to the NSDL PAN office or UTIITSL office by courier within 15 days of online submission of Form 49A Step 8 : After the acknowledgement form is couriered to the concerned office/e-Signed, PAN no. verification is done and the card is gen erated after the NSDL/UTIITSL PAN verification.

5. How to Apply for PAN Card Offline Applying for the PAN card can also be done offline at any district-level PAN agency: Step 1:  Download the PAN card application form 49A from the NSDL or UTIITSL website or collect a copy from UTIITSL agents/NSDL office Step 2:  Fill in the form and attach supporting documents (proof of identity, address and photographs) Step 3:  Submit the form and documents to the NSDL/UTIITSL office along with the processing fee Step 4:  The PAN card is sent to the address mentioned in the form within 15 working days