Know if you are Eligible for a PAN Card- An Ultimate Guide to Follow

byPriyanka JuyalLast Updated: April 1, 2024
Know if you are Eligible for a PAN Card- an Ultimate Guide to Follow

The PAN or Permanent Account Number, issued to the country’s liable taxpayers is one of the most important documents to be submitted for a variety of purposes such as loan or credit card application, filing income tax returns, purchasing jewellery above the prescribed amount, and so on. Non-taxpayers and foreign nationals may also be issued a PAN card under certain conditions.

While a PAN card is an important document to have, it is only given to those who meet the eligibility requirements. Furthermore, even a single missing/expired document can result in a failed PAN card application process. This blog is a comprehensive guide to what is actually required to obtain a PAN card and what eligibility criteria must be met.

What are the Eligibility Criteria to Acquire a PAN card?

For Indian Nationals

Form 49A must be completed and submitted to the appropriate authorities by Indian nationals. However, it should be noted that failure to provide supporting documents can hinder the PAN application process. The documents that an applicant must submit are listed in the table below. It is important to note that the applicant can be a person, a company, a trust, a partnership, etc.

For Foreign Citizens

A PAN card is required for any foreign national who wishes to work in India, establish a company, or establish an Indian subsidiary. To obtain one, foreign nationals must complete Form 49AA and submit the following documents to the relevant authorities, along with the PAN card fee:

For Foreign Entities

A foreign entity can apply for a PAN card by submitting the following documents along with a PAN card fee to the concerned authorities-

  • Photocopy of the entity’s registration certificate issued by the country in which it is located. The certificate must be attested by the Ministry of External Affairs, a High Commission, or an Indian Embassy. An applicant can get the document attested at the Consulate of the country in which he or she is residing or from an overseas Authorized Official of an Indian Scheduled Bank Branch
  • Copy of India’s Registration Certificate or approval copy obtained from Indian Authorities to open an office in India

How long does the PAN card remain valid?

A PAN card remains valid for a lifetime.

Can I apply for a PAN card online?

Yes, you can apply for a PAN card online by visiting the official website of NSDL or UTIITSL and proceed further as per the instructions.

What are the types of PAN card forms?

There are two types of PAN card forms, one is Form 49A which is for Indian nationals and the second is Form 49AA which is for foreigners.

What is the PAN card fee?

A fee of Rs. 93 is required to be paid for the Indian communication address, whereas Rs. 864 needs to be paid for the foreign communication address.

Related News

Centre Collected Rs 4,000 Cr Due to Missed Due Date for PAN-Aadhaar Linking

The last deadline to link your Aadhaar and PAN was 30th June 2023. An estimated 44 crore people had linked their PAN and Aadhaar by the 30th. Now citizens have to pay a hefty fine of Rs 1000 to link these two identity documents. If you do not link these two documents, you will face issues with bank transactions and won't be able to avail of any government schemes.
News Post: December 27, 2023

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