Permanent Account Number or PAN is a unique 10-digit alphanumeric character assigned to all taxpayers in India. The Indian Income Tax Department issues PAN under the Indian Income Tax Act, 1961 under the supervision of CBDT or Central Board for Direct Taxes.
PAN is an electronic system that records all information related to tax – of a company or an individual – against a single PAN number. PAN, as the primary key for storing information, is shared across the country. It should be noted that two different tax-paying organizations could never have the same PAN.
Companies, individuals, NRIs, or any Indian citizen who pays taxes is eligible to get PAN card issued.
Types of PAN Card:
PAN card can be classified into the following categories –
• HUF/Hindu Undivided Family
PAN card is valid for a lifetime.
Why should you enrol for PAN card?
The unique PAN or Permanent Account Number is of extreme importance not only for income tax purpose but also because it enables every entity in India with the following –
• Proof of Address
• Proof of Identity
• Compulsory for Tax Filing
• Business Registration
• Financial Transactions
• Gas Connection
• Phone Connection
• Opening and Operating Bank Accounts
• Mutual Funds – it is beneficial to complete e-KYC for mutual fund investments
PAN Card Correction/Update
Besides storing all tax-related data and information, your PAN also serves as vital proof of identity. Therefore, it is essentially important that there are no discrepancies in the information provided by you at the time of PAN card issuance. Any inaccurate/false information in the PAN can lead to a host of problems in the future. It is advisable that you crosscheck for any inaccuracies or mistakes in your PAN card and report the same as early as possible.
One of the most common mistakes observed is incorrect/misspelt name on PAN card.
How to Change Name in PAN Card
There may be instances when your name is recorded incorrectly in PAN card, or you are required to change your surname after marriage. On certain occasions, most people lack clarity on whether there are ways to change the name in PAN card. Even if they possess a brief idea, they are not sure how to go about the process.
In certain circumstances, you should know that PAN card name correction can be done online and offline
PAN Card Name Correction Online
The steps for the online method are much simpler and take only a few minutes.
Here is how to change name in PAN card online –
• Visit the UTIITSL or NSDL portal and request for ‘PAN card name correction/change’ application form.
• Fill in the form and update the field that needs to be changed or updated.
• Carefully check and make sure all your personal details are filled accurately.
• Once you confirm the changes, you will be provided with a 15-digit acknowledgement number. You are advised to keep this number handy, as you will need it to track PAN application status and further communication.
• Pay the required amount chargeable for the changes made. Take a print out of the acknowledgement, attach the required documents along with your photograph and signature, and mail them to NSDL or UTIITSL address.
PAN Card Name Correction Offline
You can get the details of your name in PAN card, changed through the offline process. All you need to do is follow these steps
• Download the PAN card correction form and take a print out of the same.
• Fill in the form, ensuring that all the details are entered correctly. While filling up the form, tick the box on the left to mark the details that you would like to change or update on your PAN card.
• Submit the form along with necessary documents to the nearest UTIITSL or NSDL centre.
Why You Might Need to Undergo PAN Card Name Correction
You might have to change or update your name on PAN card in following cases–
• If your name is spelt wrong
• If you have changed your name legally
• If you are looking to change your surname after marriage
Documents Required for Name Change on PAN Card
The following documents are needed to change or correct name on PAN card –
• Aadhaar Card
• Voter ID
• Driving License
• Passport of the husband if you are looking to change surname post-marriage
• Newspaper advertisement featuring your updated name
Now that you are well aware of the nitty-gritty of PAN Card name change and application, make sure you do not delay the procedure. Otherwise, you might have to face problems filing taxes, obtaining phone/gas connection, or registering your business/company.