Form 49a: What You Need To Know
The form 49a is basically the form, which one has to fill to apply for a PAN card. If you are a citizen of India and you are planning to get your PAN card, then the form 49a is the form you need to be concerned with. When you go online, you can find the downloadable form then and there itself. Try out this link to download the form for your PAN card application, directly - https://www.tin-nsdl.com/download/pan/Form49A.pdf.
The code in your PAN card
The PAN card is meant to track financial transactions essentially. PAN or Permanent Account Number is basically an alphanumeric code, which is given to each PAN cardholder. This number is unique and “permanent”. This means that even if you shift from one city to another or if you change states, your number wouldn’t change.
The use of PAN card and its benefits
These days, almost all kinds of financial transactions require a PAN card. When you do money transactions, make a bank account, or collect your professional fees or taxable salary, the PAN card will come in handy. The PAN card is also almost mandatory for people who purchase or sell goods beyond the prescribed limit. The PAN card helps the government to keep tax evasions under control.
Who issues the PAN card?
The PAN card is supervised by the Central Board of Direct Taxes (or CBDT) and issued officially by the department of taxes, India. The rules and regulations of the Indian Income Tax Act, 1961 is followed for the PAN card.
How to apply?
As mentioned above, the form 49a is required to apply for the PAN card. After you download the form, fill the details and leave the place, which says Assertion Officer (AO). Paste 2 stamp sized pictures and mention, which documents you’re attatching with the form for verification and address/ work/ salary/ age proof. After sending your form, you can keep track of your PAN card while it takes time to process. Check the status of your PAN card online and in most cases, people receive their PAN cards by mail within 14 days of application.