Tuesday, August 6, 2019

What is A PAN Card and Why is it Necessary?

A PAN or Permanent Account Number is the laminated card with a ten-digit alphanumeric number issued by the Income Tax Department of India. It is provided to any individual who applies for it with valid documents.

PAN helps the IT department link all financial transactions carried out by a person with the department.

Why was PAN Card Introduced?

PAN card was introduced by the IT department to link different documents related to payment of taxes, tax arrears, tax demand, etc. related to an assesse. This helps one easily retrieve call information related to a person’s financial transactions as well has help facilitate in acquiring information related to investments, raising of loans, etc. It also includes collection of tax payers activities that are both internal and external and detection of any attempt to evade tax and widening the tax base.

What do the Alphanumeric Characters on a PAN Card Stand for?

The alphanumeric characters printed on a PAN card has certain meaning. The first 3 characters run in the alphabetic series from AAA to ZZZ. The fourth character of the PAN stands for:

P – Individual

F – Firm

C – Company



T – Trust, etc.

The next character that is, the fifth character is related to the PAN holder’s last name or surname. The next four characters, that is, the numbers are sequential numbers that run from 0001 to 9999. The last character is the alphabetic check digit.

Why is it Important to have PAN Card?

PAN is mandatory to be quoted when filing for return of income and when carrying out any correspondence with any Income Tax authority. PAN is necessary to be quoted for documents related to the following financial transactions:

  • Making a deposit that exceeds 50 thousand rupees with a bank.
  • Making a deposit that exceeds 50 thousand rupees with a Post Office Savings Bank account.
  • Opening a new bank account.
  • Making a contract of a value exceeding one lakh rupees for sale or purchase of securities.
  • Sale or purchase of a motor vehicle or vehicle that does not include a two-wheeler with a detachable side car.
  • Making a tome deposit that exceeds over 50 thousand rupees with a bank.
  • Payment to hotels or restaurants against a bill that exceeds more than 25 thousand rupees at a time.
  • Payment in cash when travelling to a foreign country with an amount that exceeds 25 thousand rupees at one time.
  • Payment in cash for purchasing bank drafts or banker’s cheque or pa orders for an amount that aggregates to 50 thousand rupees or more during a single day.
  • Depositing cash that exceeds 50 thousand rupees with a bank during one working day.

This is all about what is a PAN card and why it is necessary. Make sure you apply for a PAN card at an earliest, as it is very important to complete financial transactions today.

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Sunday, August 4, 2019

Revised Rules for PAN

New PAN Rules: Income Tax Revises 5 PAN Rules

The IT rules related to the time-line for making an application for new PAN by certain individuals along with the rules regarding the issuance of PAN card has been amended. Come December, and the new clauses in the amended Income Tax Rules, 1962 will come into effect.

Let us check out these 5 new PAN rules that you need to remember from now on.

Revised Rules for PAN

The Central Board of Direct Taxes (CBDT) has amended certain Income Tax Rules from December 5. These rules are called as the Income-tax (Twelfth Amendment) Rules, 2018, according to their statement issued.

These new rules include:

  • All entities that have made financial transactions over Rs. 2.5 lakh or more in a financial year need to apply for a PAN card. They need to file the application on or before May 31 of the assessment year for which this income is assessable. Thus, all small business cannot evade tax from now on.
  • The circular also states that it is now mandatory for every individual including the managing director, director, partner, trustee, author, founder, karta, chief executive officer, principal officer, or office bearer (or any individual who does not have a PAN card) needs to apply for a PAN on or before May 31 of the following financial year.
  • Resident entities now need PAN card even if the total sales, turnover, or gross receipts are not likely to exceed Rs. 5 lakh in a financial year.
  • It also states, it is now not mandatory for PAN applicants to quote the father’s name where the mother of the applicant is a single parent. This will bring ease to applicants with a deceased father or have estranged relationship with the father.
  • A PAN card is needed for all transactions over 2 lakh/ year needs a PAN card that includes opening a new bank account, etc.

These are the new PAN rules that have come into effect from December 5 2018.

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PAN for HRA Exemption

When filing the Income Tax Return (ITR) the government has provided HRA or Housing Rent Allowance (HRA) as a subset of employee’s salary. It is used to cover the cost of accommodation to a certain extent. This amount is spent by the employee and the government includes this amount under tax exemption. Thus, the employee can claim tax exemption under the HRA exemption.

According to the revised rules in 2013, an employee needs to mention the PAN details o the landlord when filing for tax exemptions under the HRA for amounts exceeding Rs.1, 00,000.

Why is Necessary to Provide PAN for HRA Exemption?

Earlier than 2013, it was not necessary to provide the landlords or owner’s PAN card number if the rent was around 1, 80, 000 per annum or Rs. 15,000/- per month. However, the IT department decided to lower the limit to Rs. 1, 00, 000/- per annum or Rs. 8,333/- per month.

The reason for this change is too many fake receipts were submitted to earn this exemption. Also, the landlords were not paying tax on rental income or did not declare this income in their income tax returns.

So, a salaried individual under the section 10 (13A) of the Income Tax Act gets HRA from their employer, they are eligible for tax exemption. However, to claim this exemption, they need to produce the house rent receipts. Those who pay under Rs. 3000/- per month as rent do not need to produce receipt. This rule is just for administrative ease.

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PAN Card Customer Care Number

PAN card is one of the most important government document that is required for filing income tax returns. In case of any problem, discrepancy, query, or grievances you can contact the PAN card customer care number for a solution. If you too are facing PAN card grievances, then you can refer the following article for customer care number for PAN card office.

PAN Card Customer Care Contact Details

You can contact the PAN/TDS Call Centre of Tax Information Network (TIN) under the NSDL e-Govon the following addresses or numbers:

5th Floor, Mantri Sterling, Plot No. 341, Survey No. 997/8, Model Colony, Near Deep Bungalow Chowk, Pune – 411 016.
Tel – 020 – 27218080 (From 7.00 AM to 11.00 PM for All Days)
Fax – 020 – 2721 8081
Email – tininfo@nsdl.co.in

Head Office:


Times Tower, 1st Floor, Kamala Mills Compound, SenapatiBapatMarg, Lower Parel, Mumbai, Maharashtra – 400013.
Tel – +91(22) 67931300, 67931302, 67931303, 67931304, 67931301
Branch Offices

New Delhi

Unit No.601,603,604, 6th Floor, Tower - A, Naurang House, Kasturba Gandhi Marg, Connaught Place, New Delhi - 110001
Tel.Tel    (011) 2335 3814 / (011) 2335 3815


Office No. 123, Hyderabad Regus Mid-Town, 1st Floor, Mid Town Plaza, Road No. 1, Banjara Hills, Hyderabad - 500033
Tel.:(040) - 44334178


Suite No. S - 105, Monlash Business Center, 4th Floor, Crescens Tower, NH 47, Changampuzha Nagar Post, Kochi - 682033
Tel.:(0484) - 2933075



6A, 6th Floor, Kences Towers, #1 Ramkrishna Street, North Usman Road, T. Nagar, Chennai – 600 017
Tel(044) 2814 3917/18
Fax(044) 2814 4593


5th Floor, TheMillenium, Flat No. 5W, 235/2A, AcharyaJagdish Chandra Bose Road, Kolkata – 700 020
Tel(033) 2281 4661 / 2290 1396
Fax(033) 2289 1945


Unit No. 407, 4th floor, 3rd Eye One Commercial Complex Co-op. Soc. Ltd., C. G. Road, Near Panchvati Circle, Ahmedabad, Gujarat– 380006
Tel(079) 2646 1376
Fax(079) 2646 1375

Investor Relationship Cell

National Securities Depository Ltd. Trade World, A Wing, 4th floor, Kamala Mills Compound, SenapatiBapatMarg, Lower Parel, Mumbai - 400013
Tel.:(022) 2499 4200
Toll free (Investor Helpline):1800 222 990

NSDL Certification Program

National Securities Depository Ltd. Trade World, 4th floor, Kamala Mills Compound, SenapatiBapatMarg, Lower Parel, Mumbai - 400013
Tel.:(022) 2499 4200
Toll free (Investor Helpline):1800 222 990

AaykarSampark Kendra

Tel – 1800-180-1961
Email– ask@incometaxindia.gov.in

Customer Feedback

Visit https://goo.gl/SLf53B to submit customer feedbacks, query, complaint, or suggestions for improvement.

To visit UTI Infrastructure Technology and Services Limited (UTIITSL) you can reach their customer care at the following numbers.

Mumbai    +91(22) 67931300, 67931301, 67931302, 67931303, 67931304
Fax: (022) 67931399 Email: utiitsl.gsd@utiitsl.com
Kolkata    +91(33) 22108959, 22424774
Chennai    +91(44) 22500426, 22500183

Know Your PAN

PAN Card Verification – Know Your PAN

You can apply for a new PAN card online and even submit the supporting documents online. It is even possible to use online PAN verification facility to verify your Permanent Account Number as well. This is also called as ‘Know Your PAN’.

Let us have a look at the process of PAN Card verification online in this article.

Verification of Individual PAN Card Online

To verify a single PAN card, you need to:

1.Go to https://www.incometaxindiaefiling.gov.in/home

2.On the left hand side panel, click on ‘Verify Your PAN Details’ link and go to link

3. Enter your PAN number along with your full name, DOB, Status, and enter the Captcha image.

4.Click on Submit.

and verify the details.

If you have user id and password you can verify the details after login. Login and then navigate to Profile Settings -> My Profile to view the details. 

Verification of Bulk PAN Cards for Government and Non-Government Agencies

1.Go to https://www.incometaxindiaefiling.gov.in

2.Here, register yourself as Bulk PAN Verification Agency

3.Navigate to Bulk PAN Query and click on Upload Query

4.In the specified format, upload the query and click submit

5.Once it is submitted, you will get a token number and the status of the PAN uploaded through the query system will get displayed.

This is all about Know Your PAN. You can use this process for online PAN Card Verification.

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What is A PAN Card and Why is it Necessary?

A PAN or Permanent Account Number is the laminated card with a ten-digit alphanumeric number issued by the Income Tax Department of India....

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