There are two portals where we can apply for a PAN card online. We can log into the UTIITSL portal for UTI PAN download or the NSDL portal now known as Protean. These are the two methods available for PAN card application. Before going into the details of the application process, let’s see in brief what a PAN card is and its features.
What is a PAN card?
Permanent Account Number (PAN) is a 10-digit alphanumeric identification number (including both alphabets and numbers) issued to Indians, mainly to those who pay taxes. All the information of a person related to tax is recorded against a single PAN number. This serves as the primary key for information storage and no two persons or businesses can have the same PAN. It plays a very important role in fostering transparency and compliance within the Indian financial system. It is mandatory for filing income tax returns. It helps the government track taxable transactions and ensures compliance with tax regulations. Earlier, the government allocated a GIR number to the taxpayers. This was a manual system which was unique only under the supervision of a specific evaluating officer but not at the national level. So, there was a greater risk of miscalculation and mistakes, as well as incidents of mistaken identity during tax assessment.
Contents of a PAN card
A PAN card contains the full name of the cardholder, cardholder’s father’s name, 10-digit alphanumeric permanent account number, signature of the cardholder, date of birth, photograph of the cardholder and the Government of India hologram and the tag of the Income Tax Department.
PAN cards carry information such as identification of the holder and age evidence and they adhere to Know Your Customer. Each character represents unique information about the cardholder. The first three letters will be alphabetical that is three letters from A to Z. The fourth letter reflects the taxpayer’s category.
Application process for a PAN card
You can follow these steps to apply for a PAN card.
- Visit the official websites of NSDL or UTIITSL to apply for a PAN card online.
- Select the ‘New PAN’ option on the portal.
- Opt for PAN card Form 49A, suitable for individuals including Indian citizens, NRE/NRI, or OCI individuals.
- Fill up the form with all the required personal details provided in the form.
- Make the payment of the processing fee online or through a demand draft after form submission.
- Upon successful submission of Form 49A and fee payment, receive an acknowledgement slip with a 15-digit acknowledgment number.
- Choose to e-Sign the application using Aadhaar OTP authentication or send the application with necessary documents via courier to the NSDL PAN office or UTIITSL office within 15 days.
- Following the courier submission, NSDL/UTIITSL performs PAN verification, and within 15 days, the physical PAN card is generated and dispatched to the provided address after verification.
Usage of a PAN card
- PAN is mandatory for filing income tax returns, and it helps in tracking financial transactions linked to taxation.
- It is also required when opening a new bank account. It assists banks in complying with Know Your Customer (KYC) regulations.
- PAN is used in financial transactions like buying or selling properties, vehicles, and investments like stocks and mutual funds.
- Employers also require PAN details for salary. It is necessary for submitting Form 16, which provides details of income and tax deductions.
- PAN is used in business transactions and is required if you want to obtain a business loan, opening a business bank account, or entering into high-value transactions.
- PAN is a requirement when applying for a credit card, as it assists in assessing the creditworthiness of the applicant.
- PAN is used for GST (Goods and Services Tax) registration and filing GST returns for businesses.
- It is required for certain foreign exchange transactions and international fund transfers.
- It is accepted as a valid identity proof document in most situations including hotel check-ins, ticket bookings, and other non-financial transactions.
If you want to make any corrections or updates to your PAN, you can do it too through online portals. The digital advancement has made it easy for people to perform such tasks in no time. Not only in PAN cards but also in other financial activities, people prefer to go for online platforms. Even all the banks have shifted their activities to online portals by introducing mobile banking and Internet banking services. Indian Post Payment Bank is one of the banks in India which offers mobile banking services to its customers. IPPB mobile banking App provides services like fund transfers, Bill payments, account balance checks, mobile recharge and many other kinds of stuff. Let’s see further how we can operate this banking tool.
Mobile banking app installation and registration
- IPPB mobile banking app is available in your app store. Download and install it on your device.
- Set up a PIN code for the app for security purposes.
- Link your bank account by filling up your account details and card details.
- Now, your bank account is linked with the mobile banking app. You can start using it and perform banking activities.
Fund transfer through mobile banking
This is a very convenient way to transfer funds. Open the mobile banking application on your phone and log into your account. There will be an option for fund transfer, tap on it. You can select the recipient from your list of saved payees or add a new payee by entering their details. If you have multiple accounts linked to your mobile banking, select the account from which you want to transfer the fund and enter the amount. Choose the payment method from the available options like IMPS, NEFT, UPI, etc. based on the available options in your mobile banking app. Check the details of the recipient carefully, transfer amount, and payment method to ensure accuracy. Some transfers will require an OTP (One-Time Password). It will be sent to your registered mobile number. Review the summary of the transaction and confirm to initiate the fund transfer. Once the transaction is successful, you will receive a confirmation message on the app and details of the transfer will be reflected in your transaction history. If your mobile number is not registered yet, check out the steps below.
Mobile number registration
- You can register your mobile number online by visiting the official website of your bank.
- On the profile section, there will be an option for “update mobile number”. Select that.
- Then, enter the mobile number you wish to register. Enter other required details such as your account number, name, address, etc.
- Shortly after that, your mobile number will be registered with your bank.
- If you want to do it offline, you have to visit a nearby bank branch.
- Ask for a mobile number registration form from the bank staff.
- Fill up your personal details, account details and the mobile number you wish to register.
- Submit it along with the identity proof documents. Your Aadhaar card/driving licence/any other government-issued identity card will serve as your identity proof document.
