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Tuesday, May 27, 2008

The New Superior PAN Card

Following our Finance Minister’s order, the I-T Department has taken out a new PAN Card since 2007. It will carry a coloured photo-image in case of individual applicants. It is a superior card. It is tamper proof and has built-in security features such as a hologram, fingerprints of the applicants and UV line. These security features will thwart forgery of PAN cards as every human has different characteristics.

For providing upgraded PAN services, UTI Investor Services Ltd. (UTIISL) has been authorised to collect Rs. 60/- per application with the new simplified PAN form costing Rs. 5/-.

The UTIISL, for this purpose, has set up at least one counter in each of the 501 cities as requested by the Income Tax department. Most of these counters for PAN have been set up at I-T offices. In big cities like Delhi, Mumbai, Chennai, Bangalore etc. however, UTIISL has set up more counters. Service counters have also been set up at 50 branches of UTI MF to handle PAN card customers.

We do know that people are weary of giving out their personal information especially to an unknown company, even if it is authorised by the Government. The applicants and PAN card holders need not worry about giving such details to UTIISL as all the information related to your PAN card remains with the government and UTIISL cannot use it for any other purpose.

What happens to existent PAN Card holders?
We are sure this one question must be bothering all the existent PAN Card holders. What happens to those people who have the old PAN Card. Do they also need to submit their cards and get a new one? The answer to this is NO. The existing PAN cards would continue to be valid. It is OPTIONAL for these PAN cardholders to obtain the new plastic cards. However, the Government / I-T Department would definitely persuade the old card holders to submit their old cards and get the new one as it would prevent the crime of duplication and forgery.

I do not have the card though have received my PAN.
A mistake that does not happen often, nevertheless anyone who has already received a PAN but not the card, can either ask the I-T Department to issue the new card or they can opt for a smart card by applying for the same.

I had applied for a PAN Card some time back. Will I get the old or the new card?
The kind of card you would get depends on WHEN you applied for it. The applications, received by the I-T department till 30 June 2003, would be issued the old card. However, if an individual wishes, she or he can get the new card on payment of Rs.60/-. All applications made and received, by the I-T Department, from 1 July 2003 onwards, will be handled by UTI-ISL and these applicants will be given the new PAN cards.

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