PAN Card Rules: The government has made updates to the PAN (Permanent Account Number) application regulations, which will take effect on April 1, 2026. These updates include new forms, more stringent documentation requirements, and modifications to identity verification. Indian citizens and companies are now required to complete Form 93, which replaces the previous Form 49A, while non-residents must use Form 95 instead of Form 49AA.
Now PAN will not be issued solely with Aadhaar
Under the new regulations, obtaining a PAN using only your Aadhaar card is no longer an option. You will need to provide additional necessary documents along with your Aadhaar card when you apply. Additionally, the name on your PAN card must match exactly with the name on your Aadhaar card, without any alterations or discrepancies.
Proof of date of birth is essential
When applying starting April 1, 2026, valid proof of date of birth (DOB) is required. The following documents are acceptable:
– Birth Certificate
– Voter ID
– 10th marksheet
– Driving License
– Passport
– Affidavit issued by the Magistrate
– Other government documents
These updates are designed to enhance identification processes and ensure consistency across all records.
How to apply for a PAN card?
1. Go to the official NSDL or UTIITSL website.
2. Select the appropriate form – Form 93 (for Indian applicants) or Form 95 (for Non-Residents).
3. Fill in your personal information – name, date of birth, mobile number, email, etc.
4. Provide your Aadhaar details for identity verification.
5. Upload the necessary documents (Aadhaar and DOB proof).
6. Pay the fee online.
7. Submit your application and keep the acknowledgement number safe.
8. Monitor your application status and receive your PAN card.
New PAN regulations effective April 1, 2026
Cash deposit limits: Previously, a PAN card was necessary for cash deposits exceeding Rs 50, 000 in a single day. This limit has now been revised to an annual threshold. If cash deposits surpass Rs 10 lakh in a financial year, presenting a PAN card is mandatory.
Vehicle purchase and sale: Previously, PAN was required for the purchase or sale of any vehicle (including two-wheelers). Now, PAN will be required only for vehicles costing more than Rs 5 lakh.
Hotel and restaurant payments: Previously, PAN was required for payments above Rs 50, 000. This limit has now been increased to Rs 1 lakh.
Immovable property: Previously, PAN was required for property valued above Rs 10 lakh. Now, it is proposed to increase this limit to Rs 20 lakh.
Insurance policies: Previously, PAN was required for premiums exceeding Rs 50, 000. The new rules may expand this requirement further, making PAN mandatory for other insurance-related transactions as well. These rules allow the Income Tax Department to monitor large-scale transactions to ensure accurate income reporting and prevent tax evasion.