From filing income tax return (ITR) to having a PAN card, it is necessary to have a large banking transaction. Apart from this, PAN card is mandatory for many other financial works. PAN card can be made without having to spend one rupee sitting at home.
New Delhi. In today’s time, PAN card is the first requirement for any financial or banking related work. This is the reason why the government is constantly taking such steps so that people can easily get their PAN cards made. Recently, the government has made such an arrangement from which this important document can be made in just 10 minutes sitting at home. The PAN card is a 10 digit number, which the Department of Income Tax issues. Today, first of all, we know what works require PAN card and after that we will also know how to get PAN card from home.
Now let us know how PAN card will be made without sitting at home without spending 1 rupee …
1.To get a PAN card by the Income Tax Department, you have to go to the e-filing portal and click on ‘Instant PAN through Aadhaar’ and then select ‘Get New PAN’. You will be asked for an Aadhaar number and an OTP will be sent to the registered mobile number. After OTP validation, e-PAN will be issued to you.
2. In this, the applicant gets a copy of the PAN card in pdf format, which contains the QR Code. In this QR code, the applicant has a demographic detail and photo. At the time of applying, a 15 digit number is sent to the registered mobile number. With the help of this number, e-PAN can be downloaded. A copy of this is also sent to the e-mail ID of the application. However, it is mandatory to have an email ID registered with Aadhaar. Recently, the Income Tax Department has simplified it by changing the rules related to e-PAN.
3.PAN card is also issued through NSDL and UTITSL. But, to get a PAN card from both these units, you have to pay a fixed charge. In contrast, the PAN card is available absolutely free from the Income Tax Department website.
4. Under Instant PAN facility, you do not have to fill any detailed form. Important information is collected from your base only. In addition, PAN card and Aadhaar card are automatically linked. You do not have to do anything with linking.
5. The Income Tax Department said that it takes only 10 minutes for instant PAN. So far, an Instant Pan of a total of 6.7 lakh people has been generated.
It is very important for these five tasks
while buying real estate: If you buy an immovable property of Rs 5 lakh or more, then it will be mandatory for you to give your PAN card. The Income Tax Department has also given information about this on its official website.
For Credit Card: It is mandatory to give PAN number in any post office saving account, if depositing cash of more than Rs 50,000. PAN card is also given for credit and debit card applications. It is mandatory to provide PAN card for bills above Rs 25,000 in hotels and restaurants.
For Insurance Premium:If you deposit life insurance premium today and the amount is more than Rs 50,000, then it will be mandatory for you to give a PAN number as well. PAN card is also required to buy shares of any company. Especially in the case when you pay Rs. 50,000 or above to the company in exchange for shares. It is also mandatory to provide PAN for purchasing debentures and bonds of the company.
If you want to file income tax return, then it is necessary that your PAN card and Aadhar card must be linked to each other. If your PAN and Aadhaar link is not there, then you will not be able to process your income tax return. According to the Income Tax Department, PAN card is also to be given for cash purchase of bank draft, pay order or bankers check of Rs 50,000 or above in a day.
For TD or FD: If you buy any securities or mutual fund units worth more than Rs 1 lakh, then you must provide your PAN number. PAN card is necessary for depositing more than Rs 50,000 in time deposits or fixed deposit schemes in financial institutions.
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at informalnewz@gmail.com
