APPLYING FOR PAN? NOW USE YOUR AADHAAR CARD
The income-tax department a while ago issued a notification under which the Aadhaar card, which serves as an identity proof as well as your proof of address, can be used for obtaining a permanent account number (PAN).
Aadhaar number is a twelve-digit code that the Unique Identification Authority of India (UIDAI) issues.
Any individual who is a citizen of India and if he/she passes the verification process as mentioned by UIDAI is eligible for obtaining an Aadhaar Card. It helps him/her to get access to the government welfare schemes and subsidies. Also for taking the benefits of banking services, gas connections and phone connections.
Know about PAN: PAN card is an important document which you need to possess to get involve in bigger financial transactions, for receive taxable salaries or for instance to buy assets like car or property above specified limits. It is identifiable by Indian Income Tax Act 1961.
Obtaining your PAN: you need to fill the form 49 A for the application of PAN. You can get this form on the income-tax website. Fill in the asked details and affix your 2 photographs on the form with your signature at the appropriate places. It usually takes 3 weeks from the application day for the issue of PAN card
Submit the form along with your proof of residence, your identity proof and your proof of birth.
Proof of birth may include any of these:
- pension payment order
- marriage certificate
- matriculation certificate
- driving licence
- domicile certificate
- birth certificate
Proof of address may include any of these:
- elector’s photo identity card,
- ration card, passport,
- driving licence,
- aadhaar card
- Pensioner card, etc.
- The proof of address can include
- an electricity bill,
- telephone bill,
- water bill,
- bank account statement
- credit card statement,
- Aadhaar card, passport,
- Driving license, etc.
PAN is essentially required in some cases:
Buying or selling property exceeding the limit that is Rs.5 lakhs.
Buying or selling of any motor vehicle except two wheelers.
Opening a term deposit of Rs.50, 000 or above or while depositing it in saving bank.
While making an application for the installing telephone connection.
Payment to a mutual fund for purchasing units which is Rs.50,000 or above
Payment for bonds issued by RBI of Rs.50,000 or above.
In a nutshell if you have already made UID card as a proof during opening of a new bank account or may be while applying for a passport, the Indian government has now permitted it for applying a PAN. This will help many citizens immensely.