Permanent Account Number doesn’t come with loads of advantages. However, it has rather become a legal compulsion by the income tax department to have one if you are engaged in the financial transaction in India or you are a tax payer.
The need for PAN card is as follows:
- A PAN card act as a legal, valid laminated proof of identity which exhibits your status.
- You will need this card if you file tax.
- It is compulsory to have a PAN if you are involved in any investment or financial transactions.
- If you want to start a business, you need to get it.
- At the time of buying or selling an immovable property or open bank account, Demat account.
- At the time of remittances to ret of the world, you will need a PAN.
- You will need it while seeking for mortgages or loan.
- For buying automobile
- At the time of depositing cash in others bank account.
The readers ask us about the way to see the PAN address through a pancard tracking. The method to do so is very easy, however; it is to be done by the respective cardholder himself. Any other person may misuse it for unfair means. Or it is to be done by the other person after getting the permission.
What is the difference between a PAN number and a PAN card?
The distinction depends on the use of it. The PAN number is used at the time of filing tax whereas the PAN card doesn’t perform such task. The PAN card is just a laminated physical outlook of PAN. Instead of giving the original copy one must provide the photocopy of the same while opening a bank account, current account, savings account or a Demat account. For forgoing any financial transaction, it is enough to have a PAN. You can easily trade worldwide easily. It has made the transactions easier and dynamic as compared to the early time which was limited and complex. It has bought accountability, visibility plus justice to the tax payers. Is helps a lot in keeping a systematic record of economic transactions in India within a domestic territory.
What is the need of PAN address?
The PAN address is used when you want to make alterations in PAN data or when you want to refund income tax. To know your PAN addresses, you will need to get registered at www.IncomeTaxindia.efiling.gov.in. This website enables you to carry on the work of income tax return online. You need to note down or remember the data which you entered while registering as it will also be used further. You can do the same through some other PAN by simply transferring the password. Steps to go through the same are as follows:
Step One: Visit the website: www.incometaxefiling.gov.in and select the Register button.
(It is advised to the readers to not to use the Google Chrome Browser for this process)
Step two: on the next screen fill your Permanent Account Number and then click the option naming ‘click me.’
Step three: after this fill your name, date of birth, phone number, residential address and email address. Make sure the information uploaded is correct. Double check the spellings.
Step Four: Now a confirmation email message will pop on the screen, and an email will be sent to your concerned email address. You need to open the mail and activate the account.
Step five: now you will fill your password and pan according to the login details at the given website.
Step Six: after this click on my account and then go to Update Phone and email
Step seven: the address will now be available as per the PAN data base. Continue reading to know more about Success tips for Engineering.
I hope that the readers find the article informative and helpful. We would highly appreciate if you comment or suggest on our article. Read our other articles on PAN CARD also to know how to apply online for the PAN CARD in simple steps.