A PAN (Permanent Account Number) is a ten-digit alpha-numeric number issued by the Income Tax Department under the supervision of the Central Board of Direct Taxes (CBDT). The PAN Card is issued to Individuals, Firms, Companies, Limited Liability Partnerships (LLPs), Association of Persons, Body of Individuals, Hindu Undivided Family (HUF), Artificial Judicial Person, Co-operative society, Government Agencies, Local Authority, and all those who are taxable under the Indian Income Tax Act, (1961). It is also issued to foreign nationals subject to a valid visa. For this reason, PAN is acceptable as an identity proof but not as a proof of citizenship.
1.The first three letters are a sequence between AAA and ZZZ.
2.The fourth letter identifies the type of holder. The holders are identified as below:
A – Association of Persons (AOP)
B – Body of Individuals (BOI)
C – Company
F – Firm
G – Government
H – Hindu Undivided Family (HUF)
L – Local Authority
J – Artificial Judicial Person
P - Person
T – Trust
3.The fifth character is the first letter of:
A PAN Card allows the government to keep track of all the financial transactions, which is critical in assessing an individual or company’s tax liability and bringing down chances of tax evasion. Apart from assisting the government in tax assessment, the PAN also offers certain benefits and advantages to the holder.
Some of the uses of the PAN Card are as follows:
6.Claiming refunds from Income Tax (IT) Department
7.For Investment in
8.Starting a business
While applying for a duplicate PAN card, the following documents need to be submitted:
1.Proof of PAN (Copy of damaged or lost PAN card)
2.Proof of Identity
3.Proof of Address
The first thing to do when you realize that the PAN card is lost or stolen is to go the nearest police station and lodge a complaint. Be sure to get a copy of the FIR, which can be used as a future reference when you apply for a new PAN card. This FIR is also essential to prevent any misuse of your card by a third party and to safe guard from being held responsible for inappropriate use. After this, you can apply for a duplicate copy to be issued.
See Also: how to apply pan card duplicate?
Log onto https://www.onlineservices.nsdl.com/paam/endUserRegisterContact.html and select “Reprint of PAN card” option under the ‘Application Type’ drop down list.
Collect the Request for new PAN card or/and changes or correction in PAN data form from your nearest district level PAN agency or UTIISL agents.
Fill in the form and attach the supporting documents (Address proof, Identity Proof, Proof of PAN) and photographs.
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