On this page, We are going to learn about the full form PAN and the meaning of PAN, As well as the meaning, definition, abbreviation, and acronym for PAN in different categories. So you should read this post till the end.
The Full Form of PAN: Permanent Account Number
PAN stands for Permanent Account Number. A permanent Account Number (PAN) is a unique 10-digit alphanumeric number, issued by the Income Tax Department of India to all taxpayers, including individuals and entities.
In short, The PAN Card is a physical card that contains your PAN and other important information such as your name, date of birth, and photograph.
If you’re an Indian citizen or resident, you’ll need a Permanent Account Number (PAN) to file your taxes. It is a mandatory requirement to quote PAN for various financial and legal transactions such as buying or selling a property, filing income tax returns, opening a bank account, and for other purposes such as opening a bank account or a Demat account. etc.
What are the benefits of having a PAN?
A PAN is an important document that has many benefits. It serves as an identification card and helps track your financial transactions. It is also required to file your income tax return.
How to apply for a PAN?
You can apply for a PAN card by submitting the relevant application form, along with the required documents, to the Official website of utiitsl.com. You can get the application form either from the Income Tax Department website or from designated PAN application centers.
The documents required vary depending on the category of PAN card you are applying for. The documents required for a new PAN card include Proof of identity, Proof of address, Proof of date of birth, and Proof of Indian citizenship (if not a citizen of India).
The application form for a PAN card can be divided into three parts: Part A, Part B, and Part C.
- Part A is to be filled by the applicant,
- Part B is to be filled by the authorized representative (if applicable),
- And Part C is to be filled by the Income Tax Department.
The application process is fairly simple and can be completed in a few steps. Once you have filled out the application form and attached the required documents, you can submit it either online or by mail.
How to update your PAN details?
Any changes to your PAN information, such as changes in your name or address, need to be updated. Here’s how:
- Go to the NSDL website or the UTIITSL website.
- Select the ‘ PAN Services ‘ tab on the top menu bar.
- Under ‘ PAN Services ‘, select ‘ PAN Card Update/Correction ‘.
- On the ‘ PAN Card Update/Correction ‘ page, select the ‘ PAN Correction ‘ option.
- Enter your PAN, name, old address, new address, and other details, and submit.
- You will receive an acknowledgment of your application. Your PAN will be updated within 15 days.
How to track your PAN application status?
To track the status of your PAN application, you can visit the Income Tax Department’s website and click on the “Track PAN Application Status” link. You will need to enter your PAN application number and the captcha code to view the status.
You can also check the status by SMS. To do this, send an SMS to 57575 with the following text: “STATUS PAN application number“.
Frequently asked questions about PAN.
What is a PAN card?
A PAN is a unique 10-digit alphanumeric code that is assigned to all taxpayers in India. It is used for filing tax returns
How do I get a PAN?
You can apply for a PAN online or offline. To apply online, visit the website of the Income Tax Department and fill in the application form. To apply offline, download the form from the website and take it to your nearest income tax office.
What documents do I need to apply for a PAN?
You need to provide your name, address, date of birth, and photograph when applying for a PAN. You may also need to provide other documents such as proof of identity and proof of address.
How much does it cost to get a PAN?
The application fee for a PAN is Rs. 110.
How long does it take to get a PAN?
It usually takes about 15 working days to get a PAN.
What should I do if I lose my PAN Card?
If you lose your PAN Card, you should report the loss to the Income Tax Department and apply for a duplicate card.
How can I check the status of my PAN application?
You can check the status of your PAN application by visiting the website of the Income Tax Department and entering your application number and date of birth
What is the use of a PAN?
The PAN is used for filing tax returns, opening bank accounts and Demat accounts, and for other purposes.
Now you might have got some ideas about the Meaning and full form of PAN. And also all popular full forms, acronyms, abbreviations, and their meanings and definitions.