NSDL stands for National Securities Depository Limited.
It is an Indian Central securities depository and is based in Mumbai, the financial capital of India. The NSDL was set up in 1996 as the first electronic securities depository in the country with national coverage. It was set up based on a suggestion by a national institution which is responsible for the economic development of the country.
NSDL is promoted by the Industrial Development Bank of India Limited (IDBI) which is the largest development bank of India, National Stock Exchange (NSE), Unit Trust of India. Added to this, some of the prominent banks in India also have taken a stake in NSDL.
The Income Tax Department in India which issues the PAN card has tie-ups with UTI Infrastructure Technology and Services Limited and National Securities Depository Limited (NSDL), through which it issues PAN to individuals across the length and breadth of the country.
Application for PAN can be submitted either in online mode at the NSDL web portal or any of the district level PAN agencies. Form 49A has to be filled in and submitted for applying for a new PAN by Indian citizens (including Foreign residents). Form 49AA has to be filled in and submitted by foreign nationals to obtain a new PAN.
Process for Offline PAN Application
The TIN NSDL offers several online benefits and applicants or users can easily redeem the services offered by the entity. The primary services offered by TIN NSDL through online mode includes
Permanent Account Number (PAN)
The TIN NSDL is principally involved in providing PAN services to its users as the government has made it mandatory for all the taxpayers to possess a PAN card for paying taxes for making financial investments. TIN NSDL provides services to all the users be it for applying for PAN card or Duplicate PAN, Correction or changes in PAN, reprint of PAN and so on can be done on PAN portal.
Account Office Identification Number (AIN)
Account Offices can apply for AIN through online mode on NSDL website and can also view or download the Book Identification Number (BIN), can update the information via online mode, upload 24G.
Tax Deduction and Collection Account Number (TAN)
TAN is a prerequisite wherein individuals can file TCS/TDS returns, challans, certificates on TIN NSDL web portal. Users can also avail the TAN services which include an application for TAN, reprint of TAN, check the status of TAN, get a duplicate PAN and so on.
Annual Information Return (AIR)
As per the provisions of the Income Tax Act, all the high-value transactions should be covered under the annual information return. Applicants on the TIN NSDL web portal can register, track and change or renew AIR along with the Digital Signature Certificate and so on.
The following are the list of secondary online services offered by TIN NSDL for applicants
Online PAN Verification
Firms such as banks, NBFC’s, insurance companies have to verify the PAN Card for applicants. The TIN NSDL portal offers solutions to the firms to get registered and follow some of the procedures to verify PAN cards of the applicants.
E-payment of Taxes
The TIN NSDL website provides applicants with the platform to pay direct taxes through online platform. Entities can make payments for Income Tax, Corporate Tax, Wealth Tax and so on.
As per this service, intermediaries who file income tax returns on behalf of the taxpayers can do so electronically on the portal. This portal has simplified the issues which were faced by the intermediaries.
Applicants for Permanent Account Number can be made in two ways; one is via online at the NSDL web portal or by applying at any of the district level PAN agencies. In case of submission of new PAN application, applicants have to fill in Form 49A and it is mandatory for both resident Indians as well as non – resident Indians. Form 49AA has to be filled in by the foreign citizens to secure a new PAN.
Procedure for making an online PAN application
Procedure for offline PAN Application
NSDL facilitates online tracking of PAN application helping the applicants to check their application and payment status via NSDL web portal.
Track NSDL PAN Card Application Status
Note: All the information should be mentioned as submitted in the application form. In case of non-individuals, the name of the entity should be entered in the place allotted for the surname. The status can also be checked by submitting only the name and date of birth.
Tracking Transaction Status