New PAN Card- Its Features & Design

New PAN Card Features- Alltaxtricks.com
Image- Alltaxtricks (NEW PAN Card Design) www.alltaxtricks.com

In this blog, we will see the Importance of holding a PAN & Features of New PAN Card – issued by Income Tax Department (i.e., PAN Card issued after July 2018).

First will see what is PAN card?

A PAN is a ten-digit unique alphanumeric number issued by the Income Tax Department. PAN is issued in the form of a laminated plastic card as given below (commonly known as PAN card).

To Know more about your PAN Structure, Click here

Below Image shows the Design of New PAN CARD:

IMPORTANCE OF HOLDING VALID PAN

There are many benefits of possessing a PAN number, as it is just a necessary rule laid by the IT department; thus having it is a compulsion & you must quote it on all your financial transactions in India.

  1. It acts as an Identity proof
  2. To file Income tax return, you would need to furnish it
  3. Quoting of correct PAN is important while filing TDS returns
  4. For register in GST portal
  5. To start a business
  6.  For buying or selling property
  7. Open banking or investment account
  8. Apply for loans
  9. Apply for credit card
  10. For purchasing car or any other thing
  11. To deposit cash in bank of more than Rs 50,000/-

New PAN Card- Its Features & Design

New PAN Card Features- Alltaxtricks.com
Image- NEW PAN Card Design Info graphic- Alltaxtricks
  1. Enhanced QR Code will contain Photograph & Signature of PAN applicant apart from existing information i.e., PAN, Name, Father’s Name/Mother’s Name, Date of Birth/Incorporation/Formation. The aforesaid details will be digitally signed & coded on the Enhanced QR Code.
  2. Enhanced QR Code shall be readable by specific Mobile App which is available on Google Play Store (Keywords – ‘Enhanced PAN QR Code Reader’). An autofocus camera having a resolution of 12 Mega Pixel and above is recommended for the reading of the Enhanced QR Code.
  3. Positions of Photograph, Signature, Hologram, and dimension of QR Code have changed.
  4. The Enhanced QR code will also be provided in the e-PAN Card issued to the PAN applicants.

Note:

PAN card issued before July 2018 is also Valid, So No Need to apply for New PAN Card.

Author: SRINIVASAN VENKATESH

The author is a Digital marketer & also worked as a TDS (Tax Deducted at Source) Operations Manager, He has more than 4 years of Experience in TDS Processing & Uploading, also has experience on TDS Default Clearance which raised by Income Tax Department (Reflected in TRACES). He was also handled a Project of “Entire Employees PAN Database Error identification & Rectification” for Murugappa Group (Various units like EID Parry (India) Ltd, Parry Agro Industries Ltd, Murugappa Holdings Ltd etc.., ), Which helped them to avoid huge Tax Defaults & due to this project the company saved a lot of amount. He worked as a TDS Consultant in the PVT Firm in Bangalore, Handled Corporate Clients Like South Western Railway (Bangalore Division), Karnataka Traffic Police (Bangalore Division), Karnataka Power Corp (KPTCL), Bangalore Electricity Company (BESCOM), Gulburga Electricity Company (GESCOM) Mphasis, Axiss Dental, LifeStyle International, State Bank of India, UCO Bank, Food Corporation of India (Chennai & Bangalore), Life Insurance Corporations & Govt Institutions in Karnataka & Tamil nadu. For any Support, Kindly contact us… Our email : [email protected]
About SRINIVASAN VENKATESH 19 Articles
The author is a Digital marketer & also worked as a TDS (Tax Deducted at Source) Operations Manager, He has more than 4 years of Experience in TDS Processing & Uploading, also has experience on TDS Default Clearance which raised by Income Tax Department (Reflected in TRACES). He was also handled a Project of "Entire Employees PAN Database Error identification & Rectification" for Murugappa Group (Various units like EID Parry (India) Ltd, Parry Agro Industries Ltd, Murugappa Holdings Ltd etc.., ), Which helped them to avoid huge Tax Defaults & due to this project the company saved a lot of amount. He worked as a TDS Consultant in the PVT Firm in Bangalore, Handled Corporate Clients Like South Western Railway (Bangalore Division), Karnataka Traffic Police (Bangalore Division), Karnataka Power Corp (KPTCL), Bangalore Electricity Company (BESCOM), Gulburga Electricity Company (GESCOM) Mphasis, Axiss Dental, LifeStyle International, State Bank of India, UCO Bank, Food Corporation of India (Chennai & Bangalore), Life Insurance Corporations & Govt Institutions in Karnataka & Tamil nadu. For any Support, Kindly contact us... Our email : [email protected]

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