PAN Card Fee: Permanent Account Number (PAN) has become one of the most essential documents these days. This ten-digit unique alphanumeric number encrypted in laminated plastic card, ensures you do not face any difficulty while doing major transactions. Hence, PAN cards are very important to carry everywhere you go. Interestingly, if you do not have a PAN card, even though you are liable to hold one, then the I-T department has the liberty to levy penalties upon you. Not only this, if you have tampered with your details knowingly, you will also be held liable and hence a fine you will have to pay. While you are definitely will be liable to pay a penalty if PAN not obtained, but did you know there are charges as well for applying this card. 

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 According to the Income Tax Department, every applicant will have to pay Rs 93 plus GST as fee on their per PAN application.  In case, if the PAN card is needed to be dispatched outside India, then fee for processing this application will be Rs 864 plus GST which includes Rs 93 as application fees and Rs 771 dispatch charges. 

Know who has to obtain a PAN card, as per the Income-Tax department

1. Every person needs it if his total income or the total income of any other person in respect of which he is assessable during the year exceeds the maximum amount which is not chargeable to tax. 

2. A charitable trust is required to furnish returns under Section 139(4A).

3. Every person who is carrying on any business or profession whose total sale, turnover, or gross receipts are or is likely to exceed five lakh rupees in any year.

4. Every importer/exporter who is required to obtain Import Export code.

5. Every person who is entitled to receive any sum/income after deduction of tax at source.

Watch this Zee Business video here:

www.incometaxindia.gov.in