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10/10/2022 |
Having a PAN card is important for every individual engaging in financial transactions in our country. It is issued and managed by the Income Tax Department to legalise the transactions and penalise the applicable individuals in case of a discrepancy. Therefore, you must apply for a PAN card timely and ensure that you receive it before engaging in a financial transaction. The Income Tax Department has introduced different mechanisms to help track your PAN card status online. Here is a detail about it for your reference.
Before we discuss methods to track PAN card status, let us understand the importance of PAN to know its significance for all your financial transactions.
What Is PAN?
PAN refers to Permanent Account Number. It is a 10-digit alphanumeric number issued to the applicable individuals by the Income Tax Department. It helps in linking all the transactions of the individual with the department and includes income tax* payments, credits related to TDS, income in the form of gifts, returns on investment, etc.
In addition, it facilitates analysing of the information related to the credibility of the taxpayer based on tax* payments related to different sources of income to help provide loans, detect tax* evasion activities, etc.
You can apply and check your PAN card status online at any time. Here are two different methods to do it.
How to Track PAN Card Status Online?
With the advancement in technology, you can take a few minutes online to apply for a PAN card and check the PAN application status later until you receive it as a hard copy. The PAN card online check is a simple and hassle-free process.
Method 1: Using the official website of the Income Tax Department.
- Visit the Status of PAN -NSDL link.
- You will be redirected to a website - "Track Your PAN/TAN Application Status".
- Select the type of application from the drop-down menu - PAN - New / Change Request.
- Provide the Acknowledgement Number provided to you when applying for your PAN card in the box shown on the screen.
- Enter the Captcha code shown for verification.
- Click on the 'Submit' button to view the PAN application status.
Method 2: Using the UTI Infrastructure Technology And Services Limited Website
- Visit the UTIITL link.
- Under the PAN Card Services tab, choose the 'Track Your PAN Card' option.
- You will be redirected to a window to - "Enter details to Track Your PAN Card Application status".
- Provide the Application coupon number shared with you when applying for the PAN card or the PAN number.
- To complete the request, provide further details, such as the Date Of Birth/ Incorporation/ Agreement/ Partnership or Trust Deed/ Formation Of Body Of Individuals/ Association of Persons.
- Enter the Captcha code and click on Submit.
- If you have entered the wrong information, reset it by clicking the "Reset" option, providing the details again, and clicking the "Submit" button to check the PAN card update status.
Having a PAN card is mandatory for all financial investments. Therefore, it is an important document asked for in the application procedure while purchasing any financial instrument. For example, when you want to purchase a life insurance scheme, you will either approach the online or the offline mode of purchase.
In either case, a copy of your PAN card is an important proof of reference to validate your profile and process the application by the life insurance providers. Therefore, even as you purchase life insurance online, you will be mandated to provide or upload your PAN card details to complete the application procedure.
If you have applied for a PAN card or requested a change in details, you can check the income tax* PAN card status online and proceed with the relevant application based on the PAN update status.
When you purchase life insurance plans, you will also be entitled to a tax* deduction and exemption benefit. You can claim the benefits while filing Income Tax Returns(ITR) annually. However, providing a valid PAN number or a PAN-linked Aadhar is mandatory while filing the ITR.
Therefore, by purchasing a life insurance plan with a valid PAN, you can secure your family in your absence while also saving on taxes*. Our Tata AIA life insurance plans provide varied customisable, comprehensive solutions that can secure your family in the event of your unexpected demise and help save and invest in funds for the future. Therefore, based on your money goals, you can start investing in savings insurance plans or wealth insurance solutions.
Conclusion
PAN card is mandatory for all financial transactions in our country. Therefore, you must apply for it at the right time and ensure you receive it before you engage in any financial processes. You can apply for the PAN card and track your PAN status online at any time. The online PAN application status check procedure is simple and easy to use. You need to visit the Income Tax Department website or the UTI Infrastructure Technology And Services Limited website to track the status. Viewing the status hardly takes a few minutes and requires extremely less effort!
L&C/Advt/2022/Oct/2437
