According to the IT laws, all individuals and entities earning taxable income in India must possess a PAN Card. All tax-related information and financial data of the assessee is registered against this 10-digit number. While the PAN application process is easy, there is still a possibility for errors. You can use the tips outlined in this article to avoid any unnecessary confusion and mistakes.
Tips to remember when filling out your PAN Card application form
Keep these tips in mind while filling out your PAN application form and see how the process becomes as easy as exploiting discounts on an online marketplace:
Choose the right application form
There are two PAN Card application forms, but many PAN applicants don’t know which form to submit. Form 49A is designed for Indian citizens only, while Form 49AA is applicable to foreigners and NRIs. You must select the ideal form depending on which applicant type you fall under. Make sure you choose the right PAN application form to avoid discrepancies and rejections.
Make sure your personal details are accurate
You need to enter your personal details accurately into the PAN application form. Making spelling errors, using initials, inputting wrong DOB details, entering incorrect communication details, or the wrong phone number are common mistakes applicants make when filling up the application form. To avoid these errors, always double-check the details imputed and verify their accuracy.
Enter the right AO code
AO code or Assessing Officer code indicates the tax jurisdiction under which your application will be processed. AO code can vary as per the residential status and specific ward where your PAN application falls. It is important to enter the right AO code to ensure that your application is processed at the designed office. You can find AO codes listed on the official Income Tax Department website, NSDL website, and PAN centers,
Carefully select the right documents
When you fill up the PAN application form, you will be asked to select the supporting documents you wish to submit to verify your application. For individual applicants, these documents include proof of identity, proof of address, and proof of DOB. For other types of PAN applicants like HUFs, companies, trusts, LLPs, and associations, the document requirement varies. Make sure you check this list before filling the form. Moreover, you should ensure that the documents you select indeed verify the information you enter into the PAN application form. If you are applying online, keep the necessary documents scanned and ready for upload to avoid any delays.
Be careful with your signature/thumb impression
Another important thing to remember is how you sign on the photograph. To complete this step accurately, sign or place your thumb impression across the photo such that it partially covers the photo and the form. If you are using your thumb impression, use only your left thumb.
Avoid using a scanned photograph
For offline applications, you should avoid using a scanned photograph. Scanned photos can often be unclear. Instead, use recent passport size photographs to ensure your application is processed without any glitches.
Use a black pen and avoid overwriting
If you are filling the PAN application form offline, make sure to fill it in carefully. You cannot edit and change information on a physical form. Since the chances of do-overs is minimal, you should carefully enter only one letter in each box with a black ink pen. Avoid overwriting on the form as it can lead to rejections.
Conclusion
The PAN application form serves as a way to obtain a unique 10-digit PAN. Fill-out the form is fairly simple as long as you keep a few things in mind. By choosing the right form, entering accurate personal details, submitting the right documents, and signing carefully, you can ensure your PAN Card application gets processed at the earliest. Once you have your PAN, you can easily continue with various financial transactions like opening an FD or obtaining a loan from a trusted NBFC.
