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If you live in India, then one of the things that you are surely going to need is a PAN enquiry and card Verification of your PAN card. If you are wondering of what this is, it is a Permanent Account Number. The PAN number can be compared to the Social security Number in the United States of America. The PAN number is required for any type of financial transaction above fifty thousand rupees that you would desire to carry out in India. The PAN number is a 10 digit code that consists of both letters and numbers and is embossed in a card that is commonly referred as the PAN card. This article therefore seeks to look at the pan card verification process and what goes on so that you are finally given the card.
Initially, if you desired to get a PAN card, the pan card application status took rather long as it was done manually. This initially was based in an open database system, being available in online income tax website. However, massive misuse was observed and the Income Tax department has made this information about your pan card status only available for authenticated users, particularly financial service providers such as banks and government institutions.
Today, the most common pan card verification method is based online. To perform your PAN card verification, it is a requirement that you must be registered on the NSDL plan website so as to have an easy time when looking for a quick PAN card verification period. The agencies that eligible to this verification include Government agencies, banks, depositories, Mutual Friends, companies, credit card companies, the stock exchange and companies or an entity that has an annual information returns.
The charges to PAN card verification very depending on the nature of business that you might desire and the facility that is looking up this card for you. It is also important to note that a service tax will be charged above all the other charges that are outlined.
If you are the registered entity for the PAN card, then a fee of Rs. 1000 is attracted per month per ID of user service. This fee is paid upfront 12 months at the time of online pan card application. Other requirements include access to a screen based query that comes with an allowance of PAN searches per day depending on the user ID. The charges that are paid are all non – refundable and failure to pay a charge required by the NSDL plan website may lead to a discontinuation of service. The only scenario where charges may be refunded is when a pan card application is rejected by the ITD. At this point, any money that had been paid will be refunded.
The prerequisites that you ought to know when applying for the online card verification are that you must always have a Digital Signature Certificate, either Class II or Class III from a legalized certified authority. The digital certificate is quite an important factor in PAN card enquiry and verification procedure that must never be overlooked