The Permanent Account Number (PAN) is important for citizens in India, not just for income tax purposes but also as identification documentation. It is advised that you fix any mistakes or inaccuracies in your PAN as soon as you get to know about them. Your name, birth date, photo, signature, father's name, Aadhaar, gender, address, and contact information can all be updated or changed. Let's discuss the online and offline processes for updating your PAN Card address.
What is PAN Card?
Permanent Account Numbers, or PANs, are used throughout the nation to identify specific taxpayers. Given to Indians, particularly those who pay taxes, a Pan Card is a 10-digit unique identity alphanumeric number (including both alphabets and numbers).
Advantages of PAN Card
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You need a PAN card when you have to file an IT return.
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Having your PAN card might help you save on TDS because banking institutions deduct 20% extra TDS on Rs. 10000+ earned interest if your PAN is not quoted.
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If the TDS deducted exceeds the actual tax, you can request a refund by connecting your bank account to your PAN.
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When creating a new bank account, a PAN card is a requirement for identification.
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Purchasing and selling immovable assets worth more than Rs. 10 lakh, such as real estate and vehicles.
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The production of the PAN card is required for financial transactions worth more than Rs. 50000.
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You should be aware of the PAN card application procedure if you intend to invest in stocks, bonds, or mutual funds.
How to update the address on PAN Card online?
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Go to website
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Select changes or corrections in the existing PAN Card under the Application type
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Select category
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Enter your details
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Click on the check box
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Enter the captcha code and click the 'Submit' button to finish
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Following completion of the preceding step, the address will be updated based on the information on the Aadhaar Card. You will also receive notifications via SMS and email.
How to update the address on PAN Card offline?
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Download the request for a New PAN Card or/and the Changes or Corrections form here.
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Completely fill out all required fields on the form.
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Include all necessary paperwork, such as identification and address proofs, passport-size photos, etc.
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Send the form to the nearest NSDL collection center once it is finished.
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Pay the offline PAN card updates and corrections costs. A 15-digit acknowledgment number will then be provided to you, allowing you to monitor the status of your PAN card application.
