A 10 Digit Alphanumeric Number is called TAN Number and is used for Tax Deduction and Collection Account Number.
Pan Card Registration Services in Purnea, Bihar
Changeless Account Number (PAN) is a remarkable 10-digit alphanumeric personality apportioned by the Income Tax Department. The container is obligatory for monetary exchanges, for example, getting assessable compensation or expert expenses, dealing or buying benefits above determined breaking points, purchasing common assets, and some more. Avyud Consultancy is a unified platform for all services related to PAN card applications and all other processes, whatsoever. Permanent Account Number (PAN), a ten-digit number issued by the Income Tax Department in India in the form of a laminated card, counts as the most important document in the form of a unique identification number allotted to every taxpayer in the country.
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Benefits of PAN Card
- Open your bank account with ease: All banks and financial institutions mandatorily require a PAN card as a valid ID to open a current or savings bank account.
- No hindrance in any business transaction: As per the 2010 amendment to the Income Tax Act, 1961, the PAN card has been made mandatory for all companies by the government.
- Claim Your IT Refunds and Exemptions: If the amount of TDS actually paid by you is more than the amount of income tax, you may be entitled to a refund. You can get refund from IT department only if your TDS deduction is linked to PAN and you file income tax return duly.
- TDS Exemption on Savings Deposit: If your annual interest income on your savings account is more than Rs 10,000/-, TDS deduction will be only 10% if you are a PAN card holder, otherwise TDS deduction will be 20%.
- Opening a Demat Account: PAN card is required for opening a Demat account, also known as a Demat account, where all your shares and securities can be held in dematerialized or electronic format.
- Get loan facility: Banks and financial institutions do not provide any loan and credit facility unless you have a valid PAN card.
- Buying and Selling Property: If you want to buy or sell your immovable property, the value of which is more than INR 10 Lakh, you need to submit your PAN card details.
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FAQs for Pan Card Registration Services
What is a PAN?
Permanent Account Number or PAN is a genuine alphanumeric code consisting of 10 characters allotted to individuals, HUFs, and business firms in India and abroad.
How to Track PAN Card Status Online?
- Visit the official NSDL link to track PAN card status.
- Select Application Type- PAN New/Change Request.
- Enter your 15 digit ARN.
- Enter the captcha text and hit the submit button.
- Your PAN card status will be displayed.
How to Link PAN Card with Aadhaar Card?
- For this, you have to first register on the Income Tax e-filing portal. Once registered,
- Login to NSDL using Username, Password and Date of Birth.
- From Profile Settings tab click on Link Aadhaar.
- Enter your required details.
- Enter the captcha text and hit the link aadhar button.
What are Documents Required for PAN Registration?
- Passport size photograph
- Aadhar card and
- Address proof
What is The Penalty for Not Obtaining PAN Card?
Penalty for not having a PAN card under section 272B of the Income Tax Act, if the PAN card is compulsorily Rs 10,000.
Who are Mandatorily Required to Have PAN Card?
For those who are individuals earning taxable income, i.e. they have to pay income tax and file income tax return, it is mandatory for them to have a PAN card.
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