PAN Card: PAN card is a very important document, which is used for financial related purposes. Without PAN card, you will not be able to file income tax return, deposit more money in bank and many other things. On the other hand, if the PAN card contains wrong information or is not updated, many works may come to a standstill.
PAN card has to be updated from time to time with new information. If you want to change your name, surname or any other information in PAN card, you can do that. PAN card can be updated from the comfort of home or online and can be updated anytime.
Is it necessary to replace the old PAN card?
If the PAN card is cut or lost, it can be re-applied as per the government instructions. It will be re-issued after a few days of application. However, if your PAN card is old then you don’t need to change it.
PAN card is valid for lifetime
If something needs to be updated or changed then you can apply for an updated PAN card in place of the old PAN card. Tax and legal experts say it is not mandatory to replace the old PAN card as the Permanent Account Number (PAN) remains valid for the taxpayer’s lifetime unless it is canceled or surrendered, reports Financial Express.
How to Generate PAN Card
You can apply online for a new or duplicate PAN card through the official website of the Income Tax Department of India. You can visit NSDL or UTIITSL website and follow the instructions to apply online. You have to fill PAN card application form (Form 49A or Form 49AA).
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