PAN or Permanent Account Number is most important for all financial transactions, opening a bank account or filing income tax. But applying for a new PAN can come with the chances of your application getting rejected.
I have been through this when I have gone through the trouble of filling up my application and submitting it at the PAN office - twice. The first time it got rejected because the supporting documents of identity I used was a postal ID and though it was a government issued identification, the person at the desk refused to accept it. So then I decided to use the same documents and use a PAN service. And I got my PAN card. So while it is easier sometimes to use the help of an Agency, you can do it yourself and save the additional expense. Here are a few things to be careful about to avoid mistakes. Sometimes though with all the care, mistakes can still happen.
1. Incorrect Signature:- There are two places on the application where you must sign. Be careful that there is no difference between both the signatures and sign exactly where indicated. You need to sign across your photo so make sure your signature is on the Photo.
2. Signing in Blue Ink:- Signing must be in BLACK INK only. IF you sign in blue ink it is against the specified rules and it could get rejected.
3. Using Initials in Your Name:- This is a big no. If your name has initials, don’t use them in your application. Expand the initials and write the full form as PAN application rules are very clear. Use full names.
4. Scanned Photos with Physical Application:- Attach only original photos. Scanned photos are not accepted.
Always double check your application to make sure you have not missed out anything. In case you have applied with wrong details and PAN card is issued, you will have to get it corrected and go through the whole process again for corrections to be made.
PAN card is issued by IT department and sometimes the department outsources it to other agencies. If there is a delay in issue of PAN card, some individuals apply again and this can result in multiple PAN cards. This can cause penalty to you. Unless you get intimation that your previous application has been rejected, it is best to be patient.
Many folks have found it easier to just forget all the trouble involved in application by handing it over to a PAN card service agency. This comes at a additional cost. However, be careful when it comes to the fees. Some agencies advertise low fees but beware, there can be hidden costs so always make sure that there is no hidden charges involved. It would be good to also check for online reviews.