PAN Card is a crucial document for financial and tax-related activities like filing income tax returns and conducting significant transactions. However, there is a lot of confusion about its validity.
Some people believe that a PAN card expires after 10 years. Others say that a PAN card will remain valid for many more years. Which of these is true?
How many years is a PAN card valid for?
A PAN card is valid for life. Its unique 10-digit alphanumeric Permanent Account Number (PAN) does not expire and remains unchanged throughout your life. While you may update your personal details like your address or name, the PAN number is permanent.
Can one have more than one PAN card?
No, individuals are not allowed to have more than one PAN card. As per Section 139A of the Income Tax Act, 1961, having multiple PAN cards is a violation of the law. If a person is found to have more than one PAN card, he/she will face a penalty of up to Rs. 10,000.
How to apply for a PAN card?
If you do not have a PAN card or need a replacement, here is how you can apply:
How to apply online
Visit the official website of the Income Tax Department or the NSDL/UTIITSL portals.
Fill Form 49A (for Indian citizens) or Form 49AA (for foreign nationals).
Submit the required documents and pay the fee.
Offline Application Method
Download or collect Form 49A/49AA and print it.
Attach the required documents (proof of identity, address and date of birth).
Submit the filled form at a PAN Card Centre or an authorised service provider.
E-PAN Option
You can also opt for e-PAN, the digital version of the PAN card, available through the NSDL PAN portal. This process is faster and eliminates the need for physical documents.
A PAN card is a lifelong document that plays an integral role in financial activities. Even if it has not expired, it is essential to ensure that your details on the card are up to date. Remember to always follow the rule of having only one PAN card to avoid legal penalties.
For any updates or changes, use the official platform of the Income Tax Department for a smooth and hassle-free experience.