Why PAN Card Is Unique and Is Mandatory For the Tax Payers to Hold One?

Any person who is identified under Indian Income Tax Act 1961 is liable to hold a PAN Card. This PAN Card holds a unique 10 digits Alpha-Numeric, which is issued to the person by the Indian Income Tax Department under the strict supervision of Central Board for Direct Taxes.

                             The PAN Card or Permanent Account Number Card works as a unique identification for the Indian Tax Payers. Just like the Aadhar Card and Driving License, the PAN Card serves as an identification proof for all reasons. Every Taxpayer is liable to hold a PAN Card for any financial transaction, be it a person or any institution.

Only One PAN Card Can Be Held By Any Person or Organization

A single person or institution is liable to hold only one PAN Card issued in the registered name as declared mandatory by the Indian Government. Any eligible Tax Payer holding a PAN Card can see on the prescribed 10 digits unique code that can never be altered in any possible way.

                              If in any circumstances the issued PAN Card is lost or damaged then the PAN Card holder can apply for duplicate PAN Card, which would be issued again with same prescribed number as per the previous one. No need of applying for a new PAN Card in such cases.

No Need Of Applying a New Card for Address Change or Damage or Lost Case

Even if the residential or any other communicating address of the Taxpayer as specified while applying for PAN Card is changed, the Card holder need not apply for the alternation and request for a change. If any person is found carrying or using more than one PAN Card for the financial transactions or any other reasons, then the person would face legal consequences, may be imprisonment or a money penalty of Rs 10,000. For any government official's inconvenience reason if any person is issued more than one PAN Card then the card holder must inform this to the tax department and deposit the extra card at the Tax office.

Go For Easy and Convenient Way to Apply For a PAN Card through the Online Sources

• A person unaware of the PAN Card and its uses does have a wide option to check pan card information from the online sources.

• Any new taxpayer or any person applying for a new PAN Card or Duplicate PAN Card or tracking the status of an applied PAN Card can be checked on at the online sources.

• The online sources for applying a New or Duplicate PAN Card are very convenient; any new user can easily apply for new or duplicate PAN Card in a simple format.

Save and Secure the Unique Acknowledgment of Your Application

An online PAN Card applicant needs to find a reliable PAN Card service provider who would help you with each and every step in the process of applying for PAN Card, be it new or duplicate and even in tracking the status of any applied PAN Card. Applying for a PAN Card through the online source is very easy and cheap.

You need not move to any office to apply or verify your application status, with the provided acknowledgment number, which is unique and secured, you can check on the status in a hassle freeway and thus hold your PAN Card.

Source : articlesbase.com