PAN Card Validity: Can your PAN card also expire? Know what is the rule of Income Tax Department

In today’s digital era, PAN card i.e. Permanent Account Number has become one of our most important documents. Be it opening a bank account, investing money in the stock market or buying any valuable property, PAN card is required everywhere. But have you ever thought that this important card kept in your wallet can also expire someday? Often there is confusion in people’s mind that like driving license or passport, PAN card also has to be renewed after a certain time. If you also have such a question in your mind, then this news is for you only.

Actually, the rules regarding PAN card issued by the Income Tax Department are very clear. It is a matter of relief that your PAN card never expires. Once a PAN number is allotted to an individual, company or institution, it remains valid for life. Even if you change your job, city or move out of the country, your PAN number will always remain the same and its PAN Card Validity Will never end.

When is there a need to renew the card?

Even though the legal validity of PAN card never expires, there are certain situations when you need to get it updated or reprinted. According to local people and tax experts, sometimes due to the card being old, the photo printed on it becomes blurred or the signature is not clearly visible. In such a situation, there may be difficulty in authenticating the identity, hence it is wise to update the card.

Apart from this, if a woman’s surname changes after her marriage, or if any spelling mistake in a person’s name needs to be corrected, then one has to apply for correction in PAN card. At the same time, if your original card is lost or broken somewhere, then you can go to the official website of NSDL or UTIITSL and choose the option of ‘Reprint PAN Card’.

PAN card is necessary for these big works

In fact, the role of PAN card is like the backbone of the Indian financial system. It has been made mandatory for many big and important works taking place in the country. If you are doing cash transaction (deposit or withdrawal) of more than Rs 50,000 in the bank, then without PAN your work may get stuck.

Along with this, it is also necessary to provide PAN card every year for filing Income Tax Return (ITR), investing in mutual funds, stock market or IPO of any company. If you are buying a vehicle, buying or selling immovable property (house or land), or applying for loan or credit card from the bank, then it is very important for you to have an active PAN card.

Rules related to NRI and Aadhar linking

It is being told that this rule applies not only to citizens living in India, but also to Non-Resident Indians (NRIs) and foreign citizens who do business or any kind of financial transaction in India. Their PAN card also remains valid for life, provided there is no major change in their legal status.

However, one important thing to be kept in mind here is that the government has made it mandatory to link PAN card with Aadhar card. If a person does not link his PAN with Aadhaar in time, his card becomes ‘inoperative’. Keep in mind that being inactive does not mean expired. This is a temporary ban, which can be reactivated by paying the prescribed penalty and re-linking with Aadhaar.

If you want a PAN card immediately in digital form, the government is now also providing the facility of ‘e-PAN’. This digital card is generated in just a few minutes through the mobile number linked to Aadhaar, and its validity is also the same as your original plastic card.