Monday, 9 September 2019

How to verify PAN card online: Why it is important

The Permanent Account Number or PAN can now be verified by the holders without physically visiting to the income tax office. The PAN cardholders can verify it from the comfort of their home. One can easily do online PAN verification
through the Income Tax Department e-filing website.  This facility is referred to as "PAN Verification" or "Know Your PAN".​

Here is how you can verify your PAN online:

Step-1: The person has to visit the Income Tax Department e-filing website - https://incometaxindiaefiling.gov.in and login
Step-2: They have to Login and navigate to Profile Settings > My Profile to view the details

For bulk PAN verification (For government and non-government agencies)
Step-1: Register as a Bulk PAN Verification Agency on incometaxindiaefiling.gov.in
Step-2: Go to Bulk PAN Query and click on "Upload Query"
Step-3: Upload the query in the specified format and click on submit
Step-4: On submission a token number will be generated.
Step-5: Status of the PAN uploaded through the query system will be displayed

Why PAN is important?

Having a PAN is very important, as it is used for various purposes. While opening bank account, filing tax, booking tickets, or many other financial transactions PAN is a must. PAN is also required while purchasing anything which is worth over Rs 50,000. While buying a car, or taking a loan PAN is required. PAN is asked while applying for many other things. Therefore, owning a PAN is very important.

PAN is also important for various financial transactions that go beyond a limit. One can also link PAN and AADHAAR through the Income Tax Department website.

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