PAN or Permanent Account Number is a mandatory document in India when it comes to taxation. It additionally serves as an identity proof and a vital document for various financial transactions. The Income Tax Department issues PAN cards to taxpayers with lifetime validity through NSDL-TIN or UTITSL. Those who accidentally lose it can apply for a duplicate PAN card online against minimal charges.
- Nearly 44.57 crore people are PAN card holders in the country.
Losing the PAN card can be frustrating, considering its importance and the probability of misuse. Unauthorised access may lead to the exposure of vital information too. Hence, one should report the loss and take advantage of PAN card reissue immediately.
- More than 20 lakh PAN applications were under processing as on 28th January 2018.
What to consider before applying for a duplicate card?
If you wonder how to get a duplicate PAN card, the process is quite simple online. However, there are two prerequisites to consider before applying.
- If the card is stolen or lost, it is mandatory to file a complaint and collect the copy of FIR. This will prevent anyone from using the card fraudulently and save you from being responsible.
- To apply for a duplicate PAN card online, yourcar mobile number and email ID must be linked to the original PAN application. This enables you to receive the OTP for further processing.
How to avail a duplicate PAN card online?
Step 1: Access the official website
Visit Tax Information Network – National Securities Depository Limited’s official website.
Step 2: Select reprint option
Look for the ‘Reprint of PAN card’ option where you will find ‘Apply’. Choose the type of PAN card physical or e-PAN car.
Step 3: Fill up the application form
Fill up the application form with accurate details like your Permanent Account Number, address, name, contact number, email ID, etc. Note that you should avoid clicking any option present on the form’s left-hand side.
Step 4: Submit the documents
After you fill up the application, submit it along with the relevant documents like date of birth, ID proof, photograph, existing PAN card proof, etc.
Step 5: Enter captcha and OTP
Provide the captcha correctly and enter the phone number to receive an OTP. Select the tick box, agreeing to the accuracy of the information. Once verified, the page will redirect for the payment.
Step 6: Pay the charges
Certain charges are applicable to the issuance of a duplicate PAN card. You need to make the payment through demand draft, credit card, debit card or net banking.
Step 7: Receive a unique number
On submitting the documents and paying the charges, you will receive a 15 digit number for future correspondence.
The duplicate PAN card with the same number will likely reach you within 15 days, upon successful verification of documents.
An important fact to note
As the process often proves lengthy, most people choose to apply for a new PAN. However, Section 272B of the IT Act of India considers a new PAN card application as holding multiple PAN cards, which is illegal and punishable. Besides a fine of up to Rs.10,000, individuals may even face trial if their intention proves questionable.
- Nearly 1.1 million PAN cards were deactivated by the Indian government, primarily due to holding multiple PANs.
Hence, it is always advisable to apply for a duplicate PAN card instead of availing a new one.
Safeguard with a comprehensive insurance plan
One of the best options to deal with card loss is a card protection plan. An insurance policy provides financial coverage and additional benefits, reducing the replacement hassle.
Not only PAN card but these comprehensive insurance policies also cover payment cards in case the entire wallet is lost.
Following are the benefits you shall enjoy –
1. PAN card replacement
With a card protection plan, you can get your PAN card replaced at zero charges if it is stolen or lost.
Renowned financial service provider, Bajaj Finserv offers various Pocket Insurance & Subscriptions such as the Wallet Care plan which provides financial coverage for misplaced or lost PAN card. The insurance plan also provides additional assistance to avail a replacement card as well.
2. Single call blocking
Instead of making several calls, you can easily report the loss of your wallet essentials on a single number. It also enables you to block all the payment cards with only one call easily. Note that you can purchase a fraudulent charges insurance cover too for customised coverage against such incidents on your credit/debit cards.
Additionally, SIM card blocking, IMEI registration, complimentary fraud protection, etc. are available with a wallet care plan. Pay only a nominal annual premium to enjoy coverage up to Rs.2 lakh. Similar to this policy, customers can also purchase a purse care insurance cover to benefit from emergency travel assistance, 24x7 card blocking service, etc.
While the general process of PAN card reissue is a bit lengthy, an insurance product relieves the insured from any financial loses occurring henceforth. So, buy an insurance policy cover and avail your replacement PAN card without any hassle.