pan
FAQS( Frequently Asked Questions)!
The following questions are frequently asked in PAN card.
  • What is Pan card?

    Ans:-PAN card is a 10-digit alphanumeric Unique photo identity card Number issued by Income Tax Department, Ministry of Finance (Government of India) to every card holder.With the increase in the development of the Internet, even the Government has started taking an online route. The Internet has made everything convenient and mandatory for all of us.

  • Why do we need a PAN card?

    Ans:-The primary purpose of the PAN is to bring a universal identification to all financial transactions and to prevent tax evasion by keeping track of monetary transactions, especially those of high-net-worth individuals who can impact the economy. Permanent Account Number (PAN) is a code that acts as an identification for Indian nationals, especially those who pay Income Tax. It is a unique, 10-character alpha-numeric identifier, issued to all judicial entities identifiable under the Indian Income Tax Act, 1961. An example number would be in the form of ARLPA0061H. It is issued by the Indian Income Tax Department under the supervision of the Central Board for Direct Taxes (CBDT) and it also serves as an important proof of identification. It is also issued to foreign nationals (such as investors) subject to a valid visa and hence, it is not acceptable as a proof of Indian citizenship. The PAN is mandatory for a majority of financial transactions such as opening a bank account, receiving taxable salary or professional fees, sale or purchase of assets above specified limits etc.; especially high-value transactions. The PAN is unique to each individual and is valid for the life time of the holder, throughout India. An important point to note would be that once issued, the PAN is not affected by a change of address.

  • What is the minimum age required for getting pan card?

    Ans:-You can get the PAN card at any age. There is no age limit has been prescribed by income tax department. Even a 1 day baby is also eligible for PAN card. Generally people think that minimum age for getting a PAN card is 18, but it not right at all. According to Hindu Business Line report in 2013, a 10 day old girl got a PAN card and became the youngest PAN card holder across the India. The girl's father then stated that "He had decided to give some special gift to his baby girl and Rajkot Municipal Corporation (RMC) officials also helped him by issuing a birth certificate as quickly as possible" Before this, the youngest PAN card holder record was in the name of 22 day old girl from West Bengal. A press release has stated that in FY 2013-14, 18.31 Million men was allotted a PAN in which 3.33 was minor. On the other hand from 9.3 Million PAN allotted women there were 1.14% minor.