PAN or Permanent Account Number is a document that holds vital importance in India. It is a necessary document for every taxpayer of the country. PAN is a unique identification number allotted to the taxpayers or assesses of India, and each individual can have only one PAN number. Moreover, the government has made it mandatory to link your PAN to your bank account if you want to make a transaction of above 50,000 at a time. It is also compulsory for citizens to have a PAN card to file tax returns and open a new bank account.
The government has made online pan card application easy through the NDSL website. Individuals can also apply through the offline mode by visiting the district level PAN agencies. While the offline method involves almost the same requirements, there are some added benefits of online pan application. Here, you can easily track any details without any inconvenience. Some other benefits and services of online pan card application include:
Easy Tax Deductions: To file TDS/TCS returns, challans, and certificates, individuals can easily avail these services available on the online portal without having to visit the PAN office. Individuals can also check the status of their applications, reprint or get a duplicate PAN issued through the online portal. Along with these facilities, the online PAN Card application website allows facilities such as a correction in PAN or specific changes if required to be made in the document. Almost every PAN related query can be solved in the online web portal without having to visit the PAN offices for the same.
2. Easy Application for Annual Information Return: As per the guidelines of the Income Tax Act, all the applicants of a high-value transaction should be registered under Annual Information Return. These applications can be easily filled in, tracked, recorded, changed/renewed by accessing the AIR option with Digital Signature Certificates in the online portal.
3. Account Office Identification Number (AIN): The government has made it easier for account offices to apply for AIN online through the online web portal of NSDL. They have also provided the facilities like uploading 24G, viewing or downloading the Book Identification Number and updating additional information on the website.
4. More Straightforward Returns by Intermediaries: The online web portal of NSDL has introduced a new service for intermediaries that have to file income tax returns on behalf of taxpayers to reduce the problems faced by them during the process. The whole process can now be completed efficiently on the web portal, thus simplifying the efforts of such intermediaries.
5. Online Verification: For various entities that have to verify PAN of applicants regularly, the government has introduced a more natural solution through the NSDL. Here, the entities can register themselves and follow some simple steps to verify PAN cards of their applicants easily.
Apart from the essential benefits that are simpler payment of taxes from the comfort of your home and having all the necessary information in your device where you can access it easily at any time, anywhere these are some of the extra benefits of online pan application.