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Enquiries
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PAN Card

PAN Card Intoduction

A Permanent Account Number (PAN) card is a unique identification number issued by the Income Tax Department of India to individuals, businesses, and entities. It serves as a crucial document for various financial transactions and is used for tax-related purposes. Here's an overview of PAN card:

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Mandatory Requirement: PAN card is mandatory for various financial transactions and activities, including:

  • Filing income tax returns
  • Opening a bank account
  • Purchasing or selling assets such as property, vehicles, or securities
  • Conducting business transactions exceeding specified limits
  • Applying for loans or credit cards
  • Receiving taxable income such as salary, rent, or interest

Verification

PAN card details can be verified online through the Income Tax Department's website using the PAN verification service. This allows individuals and businesses to validate the authenticity of PAN card details provided by others for verification purposes.

In case of any changes or corrections to PAN card details, individuals and entities can apply for corrections or updates online or offline. This may include changes in name, address, photograph, or other personal details.

Updates and Corrections
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A PAN card does not have an expiry date, and the same PAN number is valid for a lifetime. However, individuals are required to update their PAN card details if there are any changes or corrections.

Validity
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Overall, a PAN card is an essential document for taxpayers and serves as a key instrument in ensuring transparency and accountability in financial transactions and tax administration in India.