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Permanent Account Number or PAN Card is a nationalized identity card. Without a PAN, you will not be able to carry out any financial transaction. It is the Indian Income Tax Department that allocates this 10-digit alphanumeric and unique account number to a tax-paying person, company or HUF. It has lifetime validity. With the availability of PAN, individuals and non-individuals will be able to purchase and sell assets and conduct financial transactions and take benefits of government subsidies.
In this article, we will explore the fees and charges related to the application of a PAN card.
PAN Card Fees and Charges
Applications in India - For applicants residing in India, they need to pay a fee of Rs 110, which includes a processing fee of Rs 93.00 plus GST of 18.00%. As there were some discrepancies found in the country, the Government of India decided to have a uniform fee for availing PAN Card for the applicants. Any individual or non-individual entities of the income-earning profile are on high-priority to possess a PAN card. Availing a PAN card will allow the user to carry out a financial transaction with ease and take advantage of the government subsidies allowed by the government. The citizens need to pay taxes and help in the development of the nation.
For citizens outside the country - For carrying out transactions in India, individuals/entities outside the country need to have a PAN card. Applicants must follow the same procedure as that of residents of India. For citizens outside the country who want to avail PAN Card, Government charges a fee of Rs. 864 (excluding Goods and Services Tax). Citizens residing outside the country after availing PAN card can easily carry out business in India.
Modes of Payment for PAN Card Charges
There are different modes of payment for the applicants willing to possess a PAN card outside or within the communication address. Let’s have a look at the modes of payment for availing PAN Card:
- For communication address within India: PAN card holders residing within the communication address can pay the fee/charges through Debit Cards/ Credit cards, Demand Drafts or Net Banking. It should be noted that cardholders will be levied an additional charge of up to 2.00% on the application fee payment by Debit cards/Credit cards, which is generally charged by banks. Also, payments made through Demand Draft should only be accepted, if the DD is drawn in favour of “NSDL-PAN”, payable at Mumbai. If any of the card applicants/holders want to pay through Net Banking mode, they will have to pay a surcharge of Rs.4 plus service tax.
- For communication address outside India: Citizens residing outside the communication address can follow the same mode of payments to process further. PAN cardholders can pay through Debit cards/Credit cards, Demand Drafts or Net Banking. Abroad residents have to pay additional conversion or exchange charges imposed by the banks to avail benefits; rest of the fees remains the same. Payments made through demand draft shall only be accepted if it is drawn in the favours of ‘NSDL-PAN’, payable at Mumbai.
FAQs: Fees and Charges for PAN Card
1. What are the charges for getting a PAN card?
The charges for getting a PAN Card via NSDL-TIN are as follows:
- Physical/Hard Copy of PAN Card in India - Rs. 101.00
- Physical/Hard Copy of PAN Card outside in India - Rs. 1,011.00
- e-PAN in Indian Address - Rs. 66.00
- e-PAN in Foreign Address - Rs. 66.00
2. How much is the application fee for a PAN card?
he application fee for a PAN Card from the Income Tax Department, Government of India is Rs. 93 for the communication address of Indian Citizens and Rs. 864 for the communication address of foreign (Excluding of Goods and Services Taxes)
3. Who should apply for a change or correction in PAN card?
One should make an application when he/she wants to make some changes or corrections in their existing PAN details such as:
- Change in applicant name, on account of marriage or due to spelling mistake
- Change in father's name
- Change in date of birth
4. Can a person obtain or use more than one PAN?
Obtaining or possessing more than one (Permanent Account Number) PAN is against the law.
5. Why is it necessary to have PAN?
You will not be able to file your ITR if you do not present your PAN. All bank accounts not linked with PAN will be deactivated soon. Also, it is necessary to furnish PAN for making cash transactions above Rs 50,000.
End Note
PAN card is an important document that is needed by every income-earning individual or non-individual. It has several benefits for the residents within/outside the communication address. If a PAN card application form gets rejected due to incorrect or incomplete information, there is no provision of fee refund by the Income Tax department of India. In such cases, one can re-apply for the PAN card with correct information using the same payment details.