WHAT IS PAN CARD, WHY IT IS NECESSARY AND HOW TO MAKE IT?
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Friends today is our topic, PAN card! What is a PAN Card?, Why is a PAN Card?, How to create a PAN card?, Which documents are required to create a PAN card? Will you talk about some of the information related to this?
Friends, as you all know, it is important for people living in all the countries in the world to have an identity card because only one person is going to live by that identity card. This can be detected. People of every country have different identity cards.
There are many such cards in our country through which the people here are identified as Aadhar Card, Voter Card, and Driving License etc.
Apart from all this, there is another thing which is very important for us to get recognition, along with bank related work and that is PAN card. What are PAN card and all the important things related to it I will tell you through this article?
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| PAN CARD by vpkz world |
What is a PAN Card?
The full name of PAN Card is Permanent Account Number. This is a unique identity card and it is considered to be very necessary for any kind of financial transaction. An alphanumeric number of 10 digits is present in the PAN card, which comes from the income tax department.
PAN Card is made in the form of laminated card in India under the Income Tax Act, 1961, which is issued by the Income Tax Department under the supervision of Central Board for Direct Taxes (CBDT). PAN Card is very important to pay the income tax on your income.
The numbers that exist in the PAN card are required for all types of major financial transactions such as opening an account in the bank, obtaining taxable wages, buying or selling money assets and jewelry etc. All these things include PAN card It is therefore necessary that all the details of the account holder are present in this card.
PAN card is the size of your debit and credit card, and your details such as your name, father's name, date of birth, your signature and your permanent account number and photo are printed on the card.
What does the 10-digit alphanumeric number in the PAN card mean?
I have already told you that the PAN card has an alphanumeric number of 10 digits, which has hidden many of your information like AAECC6548C. The first five letters are English alphabets, the next 4 digit number, and finally, there is an alphabet again. All these points have some meaning and they express the important details of the person. Let's know what all these numbers mean.
1. First three letters The first three letters are of a normal alphabetic series, which uses alphabet from A to Z as a combination of any three-letter like AZT or ZRT.
2. The fourth letter The fourth letter describes the holder's position on the card. This is the most important letter on this card that identifies the identity of a person's status. This fourth letter exceeds the letter "P" on the PAN holder's number, which means "person". The second 9 characters that describe the fourth character are as follows:-
A - Association of Persons
B - Body of Individuals
C - Company
F - Firm
G - Government
H - Hindu Undivided Family
L - Local Authority
J - Artificial Juridical Person
T - Trust
3. Fifth letter, If PAN card is personal then the fifth letter is the last name of the person or the first letter of the surname like Pratik Jain, then the fifth letter will be "J" on the PAN card number. And if PAN card is for any trust, organization, company, government etc. then the first letter of its name is in the fifth letter.
4. Six to nine letters these four characters are four random numbers from 0001 to 9999.
5. The tenth letter the last letter of the PAN card is the check digit of the alphabet, which is generated by a formula with the remaining 9 characters.
Why is a PAN card necessary?
1. PAN Card has a photo, name, and signature so it can also be used as an identity card.
2. Its main use is to pay tax. Without PAN card, you may have to pay more in tax. With the help of a Unique number of PAN card, the income tax department links and monitors all transactions made by one person so that tax evasion can be stopped.
3. It is not just for paying taxes, but for any more value transaction. The person who has the job needs most of the PAN card, which makes them easy to pay.
4. Today, all banks also require PAN card to open the account.
5. PAN Card prevents all kinds of disturbances or problems in income tax.
6. Even when buying or selling a property to make a home, a PAN card is required. It is also needed when buying cars.
7. If you are an NRI, you can easily purchase property with the help of PAN card and you can start your business in this country too.
How to make PAN card?
Firstly, only government employees could apply for PAN card, but now that no such person can any person, company, organization etc. apply for PAN.
The NRI person who is not a citizen of this country can also apply for PAN card. It is very easy to apply for it. It can be made in two ways, either before you either by visiting the income tax department's website incometaxindia.gov.in or tin-nsdl.com or utiitsl.com to create a PAN card. Can fill up. And second, you can go to the service center in your area where PAN card is made.
For making PAN card, a fee of Rs 107 will be charged or it may be more than Rs 150.200 in many places.
If you are applying for an online PAN card, you will need Net banking or you can also pay by credit card or debit card. And if you are making a PAN card from Bihar, you can give money in cash.
After applying for PAN card, you are given a number so that you can find out the status of your PAN card formation process and how many days you will have it.
Which documents are required to create PAN card?
1. Two recent passport size photo
2. Proof of birth. For this, you can use the photocopy of any one of your birth certificate, marriage certificate, metric certificate, passport, driving license.
3. Identity proof. For this, you can use a document from Voter Card / passport / driving license / pension card / Aadhar Card / ration card etc.
4. Address proof. For this, you need a document from electricity bill/driving license/passport / aadhaar card/telephone bill etc.
Keep in mind that all the required documents should be in the A4 size page and it is very necessary to have them self-attested along with photos, self-attested means signature of themselves.
Our Indian government will soon make PAN card mandatory in all government works like the Aadhar card, so it is very important for you to have this card. If you do not have it then make it quick.
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