Permanent account number or a PAN card is a unique 10-digit alphanumeric identity allotted to each taxpayer by the Income Tax Department under the supervision of the Central Board of Direct Taxes.
PAN card also serves as an identity proof. It will be issued by the Income Tax Department of India.
The individual or entity has to submit a form to the Income Tax Department for applying to the issuance of a PAN card, mentioning their particulars such as their name, age, and address.
Now, an applicant can receive their PAN card in 2 days. The process is given below:
Step 1: Log in to NSDL website
Visit the NSDL website (https://nsdl.co.in/) and select the appropriate form from the options provided. The applicant can apply for a PAN card either online or offline. Those wishing to apply online can visit the NSDL website and fill in the online application form and upload the documents as mentioned in the form.
Step 2: Select the type of form
After reading guidelines,you can select the type of form (with or without Digital Signature Certificate) and type of applicant from the drop down menu and proceed to fill in the details requested.
Step 3: How to submit the application for PAN?
After you have filled in the details and uploaded the relevant documents, submit the form. Applicants who want submit the form offline can do so by downloading the form from the NSDL website and submitting the filled-in form along with the supporting documents to the PAN Service center nearest to your place of residence.
Step 4: Track the status of your application
You will receive an acknowledgment in the form of your application number. This acknowledgment number can be used to track the status of your application here https://tin.tin.nsdl.com/pantan/StatusTrack.html. Before on submission of the PAN Card application form, it would generally take between 15-20 working days for the PAN card to be issued. Now, the applicant can receive their PAN card in 2 days
Step 5: Get the PAN card within 48 hours
You will receive your PAN card through registered post once the details submitted by you have been verified and processed. One has to also make sure that one is at home to receive the PAN Card. Or else, if it is returned back by the postal authorities you may have to start the procedure all over again. We are not sure if you can track the status online, though you might want to cal and find out.
It's important that you must apply for a PAN, even though you may not be in the taxable income bracket.
Why individuals need PAN Card in two days?
There are many reasons why an investor may need a PAN Card within 48 hours. The first and the foremost reason is that he may need to file his income tax returns very urgently. This would push him to take a PAN Card at the very earliest. Apart from this he may need it for his own identification to use the same as an identity proof. There could be various other reasons that a PAN Card maybe needed by individuals.