Do you know how many years your PAN card is valid? PAN card is a crucial document for financial and tax-related activities in India, such as filing income tax returns and conducting significant transactions.
However, there is often confusion about its validity. Some people believe that a PAN card expires after a full 10 years. Let’s clear this misconception and understand the rules surrounding PAN cards.
How long is a PAN card valid for?
A PAN card is valid for life. Its unique 10-digit alphanumeric permanent account number does not expire and does not change throughout your life. The PAN number itself is permanent, although you may update your personal details like your address or name.
Can you 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, they will face a penalty of up to Rs 10,000. 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 documentation.
How to apply for PAN card online?
- Visit the official website of the Income Tax Department or NSDL/UTIITSL portals.
- Fill in Form 49A (for Indian citizens) or Form 49AA (for foreign nationals).
- Submit the required documents and pay the processing fee.
Offline Application:
- Download or save Form 49A/49AA and take a printout of it.
- Attach the required documents (such as proof of identity, address and date of birth).
- The filled form can be submitted at a PAN card center or an authorized service provider.
Final Verdict:
A PAN card is a lifelong document that plays an integral role in financial activities. It is essential to ensure that your details on the card are up to date even if it has not expired. Always remember to follow the rule of having only one PAN card to avoid legal penalties. For any updates or changes, you can use the official platforms of the Income Tax Department for a smooth and hassle-free experience.