Pan Card ( New & Correction)

New Pan Card	Update in Pan Card	Correction in Pan Card
PAN - ONLINE APPLICATION The charges for applying for PAN is Rs. 91 (Excluding Goods and Services tax) for Indian communication address and Rs. 862 (Excluding Goods and Services tax) for foreign communication address. Payment of application fee can be made through credit/debit card, demand draft or net-banking.	PAN - ONLINE APPLICATION The charges for applying for PAN is Rs. 91 (Excluding Goods and Services tax) for Indian communication address and Rs. 862 (Excluding Goods and Services tax) for foreign communication address. Payment of application fee can be made through credit/debit card, demand draft or net-banking.	PAN - ONLINE APPLICATION The charges for applying for PAN is Rs. 91 (Excluding Goods and Services tax) for Indian communication address and Rs. 862 (Excluding Goods and Services tax) for foreign communication address. Payment of application fee can be made through credit/debit card, demand draft or net-banking.

Services	New Pan Card: Free/Correction Charges
(1) Physical PAN card	₹107
(2) e-PAN card	₹66
(3) Both	₹107

# Mandatory Biometric Update (MBU) shall be stand-alone transaction only; it may not be clubbed with any

other transaction.

What id Pan?

PAN card acts as legal identity verification and photo for various purposes, including obtaining a gas connection and opening a bank account. Banking: A PAN card is required to open a bank account and other banking-associated financial operations. It is now required in order to combat fraud and money laundering.

Que- Where is the Pan card required?

A PAN card is mandatory for filing income tax returns and for many high-value financial transactions, including opening bank accounts, buying or selling property, and making large cash deposits. If you do not have a PAN, you can submit a declaration in Form 60 for certain transactions.

Tax and legal matters

Filing income tax returns: The PAN is a unique identification key used by the Income Tax Department to track all financial transactions of a taxpayer.
Business registration: A PAN is required for all business entities in India, including firms, companies, and trusts, to register and file taxes.
Goods and Services Tax (GST): For GST registration, a PAN is a prerequisite.

Banking and investment

Opening bank accounts: A PAN is needed to open most bank accounts, including current and fixed deposit accounts. Basic Savings Bank Deposit Accounts (BSBDAs) are exempt.
Cash deposits and withdrawals: A PAN is required for a single cash deposit exceeding ₹50,000, or for aggregate cash deposits or withdrawals of ₹20 lakh or more in a financial year.
Loans and credit cards: A PAN is necessary when applying for a credit or debit card or for any type of loan.
Financial investments: The PAN is mandatory for investments in instruments such as mutual funds, bonds, and debentures when the transaction amount exceeds ₹50,000.
Demat accounts and share trading: A PAN is required for opening a Demat account and for purchasing or selling shares of an unlisted company exceeding ₹1 lakh per transaction.
Insurance premium payments: If the annual life insurance premium exceeds ₹50,000, your PAN details are required.

High-value purchases and transactions

Property transactions: A PAN is compulsory for the sale or purchase of immovable property worth ₹10 lakh or more.
Motor vehicle purchases: A PAN is mandatory when buying or selling any motor vehicle, excluding two-wheelers.
Foreign travel and currency exchange: If a cash payment for foreign travel or foreign currency exceeds ₹50,000, you must provide your PAN.
Hotel and restaurant bills: A PAN is required for cash payments exceeding ₹50,000 at a hotel or restaurant.
Sale or purchase of goods and services: For transactions involving the sale or purchase of any goods or services over ₹2 lakh, regardless of the payment method, a PAN is mandatory.

Pan Card ( New & Correction)

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