A PAN card owner goes through many complications while owning this card. Some common problems are how to change name in PAN Card, PAN verification, corrections in PAN card, and many more.
A Pan Card is a ten-digit alphanumeric card allotted to taxpayers of India. Indian citizens have an income of more than 2.5 lacs and are below 60 years. People who are above 60 years and have an income of 2.5 lacs are also liable to pay tax as an Indian citizen.
Worry not; you will get all the pieces of information on this site; we have got you all covered!
But before We moved to how to change the name in the PAN card? We should learn everything related to the PAN card for better knowledge.
What Is The Role Of The PAN Card?
PAN card is issued to the taxpayers of the income group who are earning more than 2.5 lacs by the government of India. PAN Card is a small card laminated and issued by the government which states the information like DOB name and address. PAN card is important because it holds the database of financial records of the taxpayer in the government’s database. Permanent Account numbers (PAN) is a 10 digit alphanumeric card is allotted under the Board of Direct taxes. It is a general card used by the taxpayers which contains a graphical user interface written in IDL.
What Are The Objectives Of A PAN Card?
As to know why it is compulsory to have a pan card as a taxpayer. Let us find what the objectives of a pan card are.
The basic and the most important objective of a pan card is to track the financial activities of the user or holder of the PAN card and recorded it through the government’s database. The holding of the PAN card also avoids tax evasion. A pan card holds lifetime validity; it is mandatory for the taxpayers irrespective of the payment mode adapted.
Why Is The PAN Card Important For Indian Taxpayers?
The Indian government made it compulsory to own a PAN card in 2016. The PAN Card is not affected by the change of address. It also serves as identity proof. The PAN card is an essential document for any kind of buying and selling individuals’ assets, purchasing stocks and funds, and tax deduction.
Anyone and everyone below 60 who earns more than 2.5 lacs has to apply for a PAN card. Senior citizens above 60 who has earns than 2.5 lacs are also mandatory holders of PAN card as they are also counted as taxpayers.
A common problem as an Indian citizen paying tax and PAN cardholders is how to change name in PAN card.
Various Common Reasons For Changing The Name In PAN Card.
The certain common reasons why people change then name on PAN card are as follows:
- Sometimes people change their name willingly and while they register for their Aadhar card name differs from the name on the PAN card. Aadhar Card and PAN card both identity proof of an Indian citizen; hence both need to be the same, requiring the process of changing the name in PAN Card.
- The Adult female section of India, after marrying changes their names often, which raises the question that how to change names in the PAN card after marriage.
- A Change in relation to step-parents, Or be it adoption at an older age, also requires the change of father’s and mother’s name in PAN card.
Be it any reason as to why you change your name or your parents’ name in the identity proof. You have to follow a precise set of instructions to do so.
How To Change Name In PAN Card?
There are different several ways as to how to do so. The Indian government has provided different methods of change in name in PAN card as per the citizens’ needs, which is easy and hassle-free.
How To Change Name In PAN Card Online?
STEP 1:Firstly, you how to open UTI or NSDL website.
STEP 2: Login your details.
STEP 3: Request for “Pan correction/change” and update your personal information as per the changes, be it change of name in PAN card after marriage, change of name, change of father name in PAN card, etc.
STEP 4: Admix your address proof, date of birth proof, Aadhar card/passport 0r any other identity proof.
STEP 5: Pay the amount asked for the changes to be made in the names in PAN card buy any online payment method (debit, credit, net banking, or demand draft)
The amount payable for a foreign communication address is 864 INR, and an Indian communication address is 83 INR excluding GST.
STEP 6: Print out the hard copy, put your signature in it, and paste a copy of your passport size photograph.
STEP 7: Mail your form of the update or the correction and send it to UTI or NSDL website.
STEP 8: Before submitting the form, make sure to check all the data of correction or change or update is accurate without any mistakes or error.
STEP 9: Make sure to properly attach all the identity proofs in the required format properly before emailing the form. It is also necessary to attach a copy of your pan card with other attachments and the form.
How To Change Name In PAN Card Offline?
Those who are facing trouble filling the form online or do not have any mail ID can also update it or change the name of the PAN card offline.
STEP 1: Download the correction or update form and print out a hard copy of the same through to UTI or NSDL website.
STEP 2: Fill the form correctly with clear handwriting and bold letters.
STEP 3: Put on your signature and paste a passport size photograph of yours.
STEP 4: Attach all the xerox identity proof required.
STEP 5: Do check all the information and be careful about the text box for the purpose of changing the name on the PAN card.
STEP 6: Go to your nearest NSDL collection office. You also need to file an application with a jurisdictional assessing officer.
STEP 7: As because of covid-19, do follow proper guidelines of wearing a mask, using hand sanitizer, and maintaining social distancing.
After all this process is done, you will get an acknowledgment slip and what to do further in your email for those who have opted for the online method. Those who have opted for the offline method will receive an acknowledgment slip, which should be received by the NSDL office within 15 days.
The Alternative Documents Which Can Be Used As Identity Proofs.
- School, diploma certificate, or school stamped – School Diaries information page.
- Name change affidavit
- Passport
- Marriage certificate
- Voter ID
- Driving license
- Credit or debit card
- Aadhar card
The Alternative Documents Which Can be Used As Address Proofs.
- Water electricity or any other utility bill showing your current address.
- Voter ID
- Passport
Benefits Of Having A Pan Card
There are several benefits to point to having or owning a pan card as the Indian government provides perks to those who are allotted a PAN card.
Serves As An Identity Proof
Pan card serves as a major identity proof for financial works and institutions. Other than an Aadhar card or Voter id, a PAN Card is to an important document that identifies netizens as citizens of India, which belongs to the taxpayer income group.
Filing IT Returns And Tax Deduction
The basic and crucial purpose of having a PAN card is taxation.
If the bank account is not linked PAN card, then the tax deduction is off 30% TDS instead of 10% on interest-earning of more than 10,000 INR by the bank.
It is mandatory to have a PAN card to file an IT return.
Opening Bank Or Demat Account/ Time deposits
It is necessary to have a pan card while opening a bank account for any purpose or a Demat account for shares in the stock market. PAN card is also required for time deposits with the post office and other companies with more than 5 lacs of deposit every year.
Purchase And Sale Of Assets And Billing Of Restaurants And Hotels or Foreign Trips
Be it the Billing of restaurants and hotels or foreign trips that exceed the limit of 50000 INR necessarily requires a PAN card. The Purchase and sale of assets with a value of more than 10 lacs INR require a PAN card. These transactions are recorded in the income tax file by the government; these records also serve as proof with respect to avoiding tax evasion.
Prepaid Assets and Instruments And Cash Card Purchase Of Goods and Services
The prepaid asset and instrument and cash cards exceeding 50000 INR per annum require a PAN card.
A pan card is required mandatorily when purchasing goods or services exceeding the amount of 2 lacs per payment.
Benefits Of Having A Pan Card To Indian Income-tax authority
As we are benefited from PAN card, the Indian income-tax authority is too benefited with PAN card. We, as a good citizens of India follow in the instruction of the Indian government of having a mandatory PAN card. It is so because the Income-Tax and the PAN card are directly linked with each other as PAN card plays a crucial role in any income tax work a person has to pay or file.
The benefits are as follows:
- There is no chance of misuse or error because of the 10 digits alphanumeric number, and also the change in name and address does not matter because of the serial number.
- It has to stop tax evasion as it records every financial transaction of the person holding a PAN card.
It is efficient and easy for the authorities to keep track of the financial status and activities of the person holding a PAN card.
Conclusion
A pan card is an essential document that needs constant updates and verification. Thus there is common confusion about change the name in the PAN card. There could be various reasons as to why we need to change their names, such as marriage, divorce, adoption, or any other general reason stated above.
These common problems lead to a basic question of how to change name on PAN card? We present An Easy and simple set of instructions to you for solving this crucial question that is change name in PAN card? In both offline and online ways.
Frequently Asked Questions (FAQs) Regarding How To Change Name In PAN Card?
Question 1. Can I apply for a new PAN card instead of making changes or updating it?
No, you can’t do so reprinting a new PAN card is only possible when there are no details to be changed or updated. You can only represent a pan card if it all PAN card has been misplaced or lost. You have to pay a certain amount to reprint it depending on where you live. A pan card can only be reprinted if the application has been filed through an online method recently.
Question 2. How many days the whole procedure takes to change name in PAN card?
The procedure to change name in PAN card takes not more than 20 days in the online and offline method.
Question 3. What documents can be submitted to support the update or correction on following the process of change name in PAN card?
If the female adult section has any changes to be made the document supporting correction should be a marriage certificate, divorce papers, or husband’s passport. An individual needing to change name in PAN card should show their affidavit official gazette.
Question 4. Is it necessary to attach photographs while following the process to change name in PAN card?
Yes, it is extremely compulsory to attach the photographs only with a white background in the form where the spaces provided. It is also important to know no that netizens have to attach to photograph of a certain size in the form.
Question 5. Is it required to specify and support the change of gender in the pan change or update section?
Yes, you have to specify your gender when you fill the form but it is not required any support or proof when the gender is changed. Indian government gives full freedom to mention or not mention gender.
Also read: How to link PAN with Aadhar