Precautions to Take When Applying for a PAN Card

Precautions to Take When Applying for a PAN Card

Your Permanent Account Number (PAN) serves a great many purposes. It is not only accepted as identity proof but also comes in handy when you want to open a bank account or invest in mutual funds or securities, start a business, file income tax returns or make high-value transactions at any point in time. As it is an important document, it is imperative to avoid making these common mistakes while applying for one.

  • Incorrect Personal Details

Even minor discrepancies on the PAN card can lead to financial or legal complications. Therefore, applicants should be extremely mindful when filling PAN application form.

The personal details on the PAN card should exactly match the details on the proof of identity.

Mistakes related to names, using abbreviations or initials, spelling mistakes, mistakes related to photographs or communication addresses or as small as signing with blue ink can be inevitable but must be avoided. Therefore, when you , make sure to follow the guidelines and double-check the details to ensure consistency across all official documents.

  • Filling the Wrong Application Form

Applying for a PAN is a straightforward process. Individuals can either fill out the designated application form online on NSDL or UTITSL or visit the nearest NSDL office or UTIITSL PAN service centre. Based on the citizenship, the Income Tax Department issues two different forms for PAN card applications. Individuals, families and companies of Indian origin should fill out Form 49A, while foreign residents and companies incorporated outside India should fill out Form 49AA along with the necessary documents required for the PAN card application.

  • Submitting Incomplete Documents

Mistakes in supporting documents or failing to submit complete documents can be one of the reasons why PAN card applications get rejected. Generally, a proof of identity, proof of birth and proof of address are necessary documents and should match the requirements and details mentioned in the PAN application form. Scanned or photocopied documents are often unclear and illegible and may lead to delays in approval or even rejection.

Applying for a PAN is a convenient and hassle-free procedure, but one that should be performed with diligence and clarity.