Don’t have a PAN card: You can use these two alternative documents

Permanent Account Number (PAN) card is mandatory for many things like opening of a new bank account, filing of income tax returns (ITR) or making large financial transactions.

The income tax department rules, also provides citizens with two alternatives for those who do not own a PAN card yet or their PAN number is not readily available.

Aadhaar Card:

After the new rules making PAN and Aadhaar interchangeable came into force from this September, you are now free to use Aadhaar number instead of PAN card number wherever it is required due to Income Tax department related rules.

Those who do not have PAN card but possess Aadhaar number are allowed to quote Aadhaar in lieu of PAN. In such cases, the income tax department may automatically generate a new PAN linked to Aadhaar card.

Those who have been allotted PAN can also use their Aadhaar number provided the two are linked. Linking of PAN and Aadhaar is already mandatory.

Form 60:

Those who do not have a PAN card can fill Form 60 under the Income Tax Rules, 1962. Form 60 is nothing but a signed declaration stating that you do not have a PAN card and your income is below taxable limits. It also seeks details of your income.

Only those who do not hold a PAN card can fill this form. Otherwise, you may be penalized with a ?10,000 fine under Section 272B of the Income Tax Act.