Tax Finance Info: Pan Card New Form

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PAN Card New Proof, New Form and Amendments in Procedure</h3>
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<b><span lang="EN-US"><a href="http://www.taxfinanceinfo.com/2014/02/know-your-pan-permanent-accout-number-incometaxindiaefiling.gov.in.html"><span style="color: red;">Permanent Account Number</span></a></span></b><span lang="EN-US"> is the unique number allotted to an individual, firm, company or
any entity identified as a person as per <b>section
2 (31).</b> <b><a href="http://www.taxfinanceinfo.com/2014/02/know-your-pan-permanent-accout-number-incometaxindiaefiling.gov.in.html"><span style="color: red;">Permanent Account Number (PAN)</span></a></b> is used to store the details of the person for various transactions
and details related to the <b>Income Tax</b>.
Income tax details like returns filed, tax payable, refund outstanding etc. are
stored under the PAN of a person. To avail <b>PAN</b>
the person has to apply for the same to the PAN authority, i.e. <b>Central Board of Direct Tax (CBDT).</b>
There is a procedure of application of PAN. Different applications are required
to be made for fresh PAN, lost PAN or any changes / correction in PAN.<o:p></o:p></span></div>
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<span lang="EN-US">There are certain changes in the procedure of PAN as compared to the
procedure in the past. There are changes regarding submitting of original
proofs and increase in the PAN application fees. Here is the list of changes
showing a comparison between the old norms for PAN allotment and the new one.<o:p></o:p></span></div>
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<b><span lang="EN-US" style="font-size: 16.0pt; mso-bidi-font-size: 11.0pt;">List
of changes in PAN allotment norms:<o:p></o:p></span></b></div>
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<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">There is a change
     in the amount of PAN application fees. It was Rs. 96 in the past and now
     it is increased as follows:<o:p></o:p></span></li>
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<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">For Communication
      address <b>within India</b> -  Rs. 105 which consists of Rs. 93 for
      application fees and Rs. 9 of Service Tax @ 12.36%.<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">For Communication
      address <b>outside India</b> - Rs.
      971 which consists of Rs. 93 for application fees, Rs. 771 for Dispatch
      related charges and Rs. 107 of Service Tax @ 12.36%. <o:p></o:p></span></li>
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<span lang="EN-US">Increased application fees are payable from 16<sup>th</sup>
January, 2014.<o:p></o:p></span></div>
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<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">The other change in
     norms is regarding presenting the documents in support of the personal
     details. As per the old norms, the applicant was supposed to submit the
     copies of documents like identity proof and address proof. But the CBDT
     has announced, in a recent statement that:<o:p></o:p></span></li>
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<span lang="EN-US">“Every PAN applicant has to <u>submit
self-attested copies of</u> <b><a href="http://www.taxfinanceinfo.com/2014/02/know-your-pan-permanent-accout-number-incometaxindiaefiling.gov.in.html">Proof of Identity(POI)</a></b>, <b>Proof of Address (POA)</b>
and <b>Date of Birth (DOB)</b> documents <b><span style="color: red;">and</span></b> also
<u>produce “<b>Original Documents</b>” of
such <a href="http://www.taxfinanceinfo.com/2014/02/know-your-pan-permanent-accout-number-incometaxindiaefiling.gov.in.html"><span style="color: red;">POI/POA/DOB</span></a> documents</u>, for <b><u>verification
at the center of PAN facilitation centers</u></b>”. It was also added that “the
copies of identity proof, address proof and date of birth have to be attached
with PAN application form”<o:p></o:p></span></div>
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<span lang="EN-US">So as per the statement the
applicants are required to carry with them the self attested copies of the
above documents along with the originals of the same. The Copies will be
verified by the TIN Facilitation centers to check if there is any variation in
the copies as compared to that of the original. <u>The original documents will
be given back on the spot soon after the same are verified.</u> This rule is
applicable from 3<sup>rd</sup> February, 2014.<o:p></o:p></span></div>
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<b><span lang="EN-US" style="font-size: 16.0pt; mso-bidi-font-size: 11.0pt;">Advantages and Disadvantages of the Changes in PAN
allotment Norms:<o:p></o:p></span></b></div>
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<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">According to the
     oppositions, the requirement of the original proofs for proof of identity,
     proof of address and date of birth for application of <a href="http://www.taxfinanceinfo.com/2014/02/know-your-pan-permanent-accout-number-incometaxindiaefiling.gov.in.html"><span style="color: red;">PAN</span></a> will create many
     problems. All the applicants will not be comfortable for providing the
     original proofs to the consultants so, they will not be able to provide
     customer satisfaction.<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Such submission of
     original proofs will also create problems for foreign applicants as they
     will not be able to visit the country at the time of applying for the PAN
     and can not trust consultants and handover their original proofs to them.<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Along with the
     above limitations, it will prove advantageous for the Income Tax
     authorities that accurate and realistic database can be maintained as
     compared to fake and unrealistic data obtained sometimes from the
     fraudulent applications.<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">The new norms will
     make in line all the documents of the people and the identity of all the
     person will be clear and without any fraud.<o:p></o:p></span></li>
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<b><span lang="EN-US" style="font-size: 16.0pt; mso-bidi-font-size: 11.0pt;">Need for updating the address:<o:p></o:p></span></b></div>
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<span lang="EN-US">Your PAN Database such as your name, date of birth, contact address,
etc. are used for communication with you for the matters related to income tax.
Details like your income tax intimation, refund order, etc. is sent to the
address given by you while applying for the PAN and the same exists in your PAN
database.<o:p></o:p></span></div>
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<span lang="EN-US">So it is recommended that whenever your residential or communication
changes or you shift from one place to another, you must amend your PAN
database by making application through the form for 'Request For <a href="http://www.taxfinanceinfo.com/2014/02/know-your-pan-permanent-accout-number-incometaxindiaefiling.gov.in.html"><span style="color: red;">New PAN Card</span></a> or/
And Changes In PAN Data'. As it will help you in keeping your database updated
with the income tax authority and so you will receive your all important
communications related to income tax at your doorstep without any delay.<o:p></o:p></span></div>
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<b><span lang="EN-US" style="font-size: 16.0pt; mso-bidi-font-size: 11.0pt;">Let us have a look at the amended procedure of the
PAN application:<o:p></o:p></span></b></div>
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<u><span lang="EN-US">For Online Application<o:p></o:p></span></u></div>
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<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Visit the Site <a href="http://www.tin.nsdl.com/">www.tin.nsdl.com</a> <o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Go to the PAN application
     department and download the PAN application form 49A for new PAN<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Take a printout of
     the application form and fill the required details as applicable for the
     respective type of person<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Affix the photo on
     proper place and sign the form duly<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Attach self –
     attested photocopies of the proof of identity, proof of address and date
     of birth<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Visit the nearest
     TIN Facilitation center along with the application form, attached
     documents and the originals of the attached proofs<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Provide the same to
     the application receiving authority at the counter<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">He / She will
     verify the self – attested copies of the proofs with that of the originals<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Once verified, you
     will have to pay application fees of Rs. 105 (amended) if the
     communication address is within <st1:country-region w:st="on">India</st1:country-region>
     and Rs. 971 if the communication address is outside <st1:place w:st="on"><st1:country-region w:st="on">India</st1:country-region></st1:place><o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">If the self –
     attested copies of proofs are not in line with that of the originals, then
     you will have to provide the rectified copies<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">You will receive an
     acknowledgement number<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Use the same to
     check the status of your PAN and you will be allotted PAN within 30 days
     from the date of application.<o:p></o:p></span></li>
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<b><span lang="EN-US" style="font-size: 16.0pt; mso-bidi-font-size: 11.0pt;">Point to Notice:</span></b></div>
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<span lang="EN-US">As per the latest news the above norms are put on hold by the
Central Board of Direct Taxes. The news of putting on hold, such norms are
given by the Ministry by providing the statement given below:<o:p></o:p></span></div>
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<span lang="EN-US">"The Central Board of Direct Taxes (CBDT) has decided to keep
in abeyance the decision to change the procedure for<a href="http://www.taxfinanceinfo.com/2014/02/know-your-pan-permanent-accout-number-incometaxindiaefiling.gov.in.html"> <span style="color: red;">PAN</span></a> allotment till further
orders. " <o:p></o:p></span></div>
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<span lang="EN-US">In the other statement, it was also stated that the old procedure of
PAN application and allotment "shall continue". It can be clearly
seen that the new norms are literally criticized and so due to such pressure
from the assesses the CBDT has to put a hold on changing the norms for PAN card
application. But it can be said that the new norms will be in practice in short
duration. <o:p></o:p></span></div>
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PAN Card New Proof, New Form and Amendments in Procedure - tin.nsdl.com

PAN Card New Proof, New Form and Amendments in Procedure Permanent Account Number is the unique number allotted to an individual, fi...

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