What is PAN Card and how to get it from Income Tax Department?

In order to get a Loan from any Bank most of the Banks primarily asks you to submit your Income Tax Assessment papers of previous Three Years. So, to avail any loan you must have submitted your Income details to the Income Tax Department of India. For that you must have a PAN Card with you. As well in order to pay the Tax on Income earned by a Business man, first he has to obtain the PAN Card from the Income Tax Department.

Application for PAN Card Number

PAN is nothing but a Personal Identification Number issued by the Income Tax Department of India, using which a person can submit his Income details to the Department. Apart that it is a mandatory for the Business people to pay their Tax on their Income earned during the Financial Year.

Now we knew that why a PAN Card is needed, and when it is required. Income Tax Department will issue the PAN Card but what is the procedure and whom we need to contact to obtain the PAN Card?

In India there are two different service providers are processing this PAN Card service. And there are as follows.

NSDL e-Governance Infrastructure Limited (NSDL)

This unit is run by the Indian Government where you can apply for your PAN Number and can obtain your PAN Card Number with in 20 to 25 working days. This unit is having its Agents only in major cities of the country.

UTI Infrastructure Technology And Services Limited (UTIITSL)

This is a third party tied up with the NSDL and having its Authorized Agents to facilitate the service to the every nook and corner of the country. But it takes 30 to 35 working days.

Both the enterprises will charge the same amount at present as on 25 January 2015 they are charging Rs. 105/- (including the delivery charges), if the Assessee is NRI and card needs to be dispatched to outside India then it costs Rs. 971/-. So, in order to obtain the PAN Card just get to any one of the Authorized Agent at your nearest place and provide the following information about you

1. Two Color Passport Size Photos (Recent).
2. Submit Photostat copies of Address Proof and Identification Proof.

Provide the accurate contact details while applying the PAN Card after that the Agent will fill up the Form 49A with your details once verify the Form 49A and sign and give the Form to the Agent along the required documents.

Then he will provide you a Coupon Code, using which you can check your Application Status through online. And within 20 to 35 days based on the Agent type, card will be dispatched to the address. And this is how to obtain a PAN Card in India.