As PAN is Mandatory Nowadays, Thousands of People are Applying to get PAN. It’s Obvious that all of them has Different Queries, but there are some questions we are getting which are Common.
Here on this page, You’ll see questions asked by tens of Visitors with Answers. So, Let’s get Started with questions without Wasting time!
Frequently Asked Questions about PAN
These questions are mostly asked in Comments. We will keep updating this FAQ page with more questions as they roll in.
1. How Much time does it take to Get PAN Card Delivered?
Answer: Normally it takes one month to Get PAN Card Delivered to your Door. But we recommend waiting for 1.5 months after applying.
2. I was not available at the time of Delivery, What should I do?
Answer: In case you were not available to Get the PAN Card, It will be returned to Courier Office. You can Collect your PAN from Courier office with Identity Proof.
3. What is Jurisdiction in PAN?
Answer: Jurisdiction means the Official Power to make Legal Decisions and Judgement. Every PAN works Under Specific Jurisdiction Depending on your Location in India.
4. What is PAN (Permanent Account Number)?
Answer: Permanent Account Number or PAN is the Number Assigned to Individual/Organization to Track Huge Financial Transactions to Prevent Tax Evasion.
5. Do I need PAN?
Answer: Yes, If you want to start a business In India, Want to Purchase Property above Rs10,00,000, Want to Book tickets above Rs50,000 or want to Invest in India. No Matter you are Indian Citizen or not.
6. Is it Compulsory to quote PAN on “Income Tax Return”?
Answer: Yes, It is mandatory to Have PAN while filing Income Tax Return.
7. Can I change Permanent Account Number?
Answer: No, Once Issued, You can’t change Permanent Account Number or PAN. You can Edit your Information on PAN Card, but you can’t change PAN Number.
8. Can I have more than one PAN Number?
Answer: No, You cannot have more than one PAN Number. It is Illegal to have more than one PAN and can lead you to Rs 10,000 Penalty if caught.
So, These are the Frequently Asked Questions for now. If you’ve already applied for PAN, You can check PAN Status to know when you are expected to get PAN or what process is going on with your Application. We’ll keep Updating this page with More issues and answers. You can Comment your Questions below; We’ll be happy to help you.