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In brief, PAN is a unique ten-digit identification number allotted to every person who has applied for it, and it was introduced to track financial transactions taxable in nature. PAN card serves as identity proof and also assists in monitoring tax evasion. Individuals and institutions such as banks, companies and other business entities can verify the PAN details of an individual with the income tax department. Not only does this help in the verification of the PAN details but also in finding out if the PAN card is a forged one.
The PAN verification service available on the IT department’s official e-filing portal can be utilised by individuals to verify the PAN card’s authenticity. It would help if you remembered your PAN to use this facility. Here is how you can use the facility.
Latest Outcome of Budget 2021:
The last date to link PAN with Aadhaar was 31st March 2021. Failure to do so will render your PAN inoperative. You will be required to re-activate the PAN as per the new section inserted 234H in Budget 2021.
Step 1. Visit here
Step 2. Enter your PAN
Step 3. Enter your full name as per PAN application
Step 4. Enter your DOB
Step 5. Choose the status, i.e., whether individual, Hindu undivided family, the association of persons, body of individuals, company, government, artificial juridical person, local authority, and firm or trust
Step 6.Enter captcha code
The below screen is displayed on success:
In case the PAN quoted is wrong, the below screen would appear:
Yes, PAN is 10-digit alphanumeric.
Yes, you are allowed to open a bank account by filling Form 60 if you don’t have PAN.
As per the government norms, you cannot invest in mutual funds without possessing PAN.
Log on here and enter all the requested details to verify PAN.