The Permanent Account Number (PAN) is a unique ten-digit alphanumeric number which is printed on a PAN card. It is issued by the Income Tax Department under the Income Tax Act, 1961 and serves as a proof of identity for all taxpayers - individuals and entities - in many situations, especially when performing any kind of financial transaction in the country. With the online facility introduced by the I-T department, availing a new PAN card or making changes/corrections in existing PAN card is now possible without any hurdle or delays. Delivering e-governance services with an industry exposure of two decades, Vedavaag Systems Limited providing PAN card related services at his VARISHTA Service Centres across the India.
The Permanent Account Number is a unique and permanent set of figures that remains unchanged throughout the lifespan of the PAN holder. It is mandatory to have a PAN card for executing various tasks such as filing income tax returns, investing in securities or property, availing banking facilities, to name a few. Entities and individuals, who qualify themselves under the bracket of taxpayers in India and wish to have financial transactions, should apply for a fresh PAN Card. Having a PAN card is a must for non-resident Indians (NRIs) living outside India and even foreign passport holders. Also, minors can apply for a PAN card through a representative assessee.
A fresh PAN card should be applied for if the Permanent Account Number has not already been allotted to the individual or entity. The procedure starts with filling and submitting an application form. It is to be noted that there are two kinds of application form - Form 49A for applicants who are Indian Citizens and Indian companies within India and Form 49AA for entities and individuals residing outside India. Relevant documents for identity verification as well as a processing fee are also required to be submitted by the applicants.
For offline support, applicants can approach any of the VARISHTA Service Center by Vedavaag where dedicated professionals are there to guide them through all the stages of PAN card.
The documents which individual applicants using Form 49a can submit as proof of identity are Elector’s photo identity card, driving license, passport, ration card, Aadhar card issued by UIDAI, Photo Identity Card issued by the central/state government or any public sector undertaking, central government health scheme card, etc.
The documents which individual applicants using Form 49a can submit as proof of address include Elector’s photo identity card, driving license, Passport, Bank Account Statement, Credit Card Statement, Landline Telephone or Broadband Connection Bill, Electricity Bill, Post Office Passbook having address of the applicant, Aadhar Card issued by UIDAI, Allotment Letter of Accommodation issued by the Central or State Government, Property Registration document, etc.