New Design PAN Card With QR Code And Aadhaar No Effect From January 2017

NEW PAN CARD WITH QR CODE

PAN is the short form of Permanent Account Number which is useful for a direct taxpayer who wants to pay tax. It is unique 10-digit alphanumeric which is used to identify a taxpayer. It is allotting to every taxpayer to track financial transaction of a taxpayer.

PAN card is an important document to the taxpayer. It is useful in to pay an IT, to open bank accounts, to purchase and sell of motors, to apply for debit or credit card, to buy jewellery, to make investment, to do foreign exchange, to buy & sell property, to acquire loans, to deposit bulk cash, to pay insurance premiums, to buy telephone connection, to identified yourself by this card.

PAN card issued by UTIISL in India i.e. UTI Infrastructure Technology & Service Limited.

PAN CARD WITH QR CODE

New feature added to PAN card 

  • Quick Response (QR) – the QR codes having information about PAN card holder is printed on PAN card to enable verification of the PAN card.
  • Fables have been incorporated into card holder name, father’s name & birthdate. But a place of the details has been changed.
  • The PAN & signature of card holder has been changed.
  • It is writing in two languages (English & Hindi)

Advantage to hold PAN card 

  • This advantage is known i.e. to pay direct tax
  • To give application for to income tax returns
  • To avoid the higher tax deduction

To make some define transaction such as:

  • Sale or buy immobile property value of Rs.500000& more than 500000.
  • To purchase and sell the vehicle
  • To pay bill of hotels & restaurant, an amount exceed than Rs 25,000
  • To pay, exceed than 25,000 Rs. while traveling in the foreign country.
  • To purchase Bonds & Debentures exceed than Rs. 50,000.
  • To buy bonds acquired by the reserve bank of India.
  • Payment of an amount exceeds than 50,000 Rs. For a company.
  • To buy mutual fund
  • If u deposit Rs.50000 in one bank account within 24 hours.
  • To buy bullion and jewelry valued more than 50,000.

⦁ Job place

It is usable at your job place to help to the recruiter to save their tax. An employer can deduct TDS, professional tax by the employee PAN card. An employer can deduct for Income tax by showing outgoing salary to the employee at the time when they apply for tax returns.

⦁ Foreign currency exchange 

When anyone wants to exchange their currency in other country’s currency at that time, you need PAN card to exchange currency with other. Even when you go for to apply for a visa, they acquire your PAN.

⦁ Bank Deposits

When you go for fixed deposit your cash exceeds than 50000 Rs. The bank asks for PAN. Banks save their Tax on giving interest to a fixed depositor.

⦁ Share Trading

The PAN card needs to do share trading to get PAN to the broker. It uses to open De-mat account.

⦁ Identity Proof

PAN accepted as nationally as identity proof. It includes the name address sign and the QR code.

Document Needed to Apply for PAN Card For Individual & HUF 

⦁ Proof Of Identity  

Aadhaar card

Driving license

Ration card

Passport size photo

  • Address Proof

Aadhaar Card

Election card

Driving license

Passport

  • Date Of Birth Proof

Adhaar card

Election card

Passport

Driving license

Birth certificate

  • Photo Id Proof For Foreign Citizen

Passport

IPO issued by Indian government

OCI issued by Indian government

  • Address Proof For Foreign Citizen

Passport

PIO issued by Indian government

OCI issued by Indian government

bank account statement

registration in any foreigner’s office with Indian address/ location

visa grant

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