Another big news is waiting for PAN Card holders. Currently, the Permanent Account Number (PAN), commonly referred to as the PAN card, serves as a key indicator of an individual’s financial status. Having a PAN card is essential for various financial activities, such as banking and filing income tax returns. However, if your PAN card becomes inactive, it could lead to complications.
An inactive PAN card can hinder your ability to perform banking transactions, file income tax returns, and manage other financial responsibilities. There are several reasons why a PAN card might become inactive or closed. Let’s explore how to check if your PAN card is inactive and the steps to reactivate it.
Reasons for PAN Card Inactivity:
1. Lack of linkage between PAN and Aadhaar card
2. Holding multiple PAN cards
3. Possession of a fraudulent PAN card
How to Check if Your PAN Card is Inactive:
1. Visit the Income Tax Department’s official website.
2. Look for the “Verify PAN Status” option in the Quick Links section on the left side.
3. Click on it, and a new page will appear.
4. Input your PAN number, full name, date of birth, and registered phone number.
5. Click on Continue, then enter the OTP sent to your phone.
6. Finally, click on “Validate” to see if your PAN is active or inactive.
How to Reactivate an Inactive PAN Card:
To reactivate a deactivated PAN card, you need to apply to the Income Tax Department. Write a letter to the Assessing Officer (AO), complete the Indemnity Bond in favor of the Income Tax Department, and submit the income tax returns filed with the deactivated PAN for the past three years. After submitting these documents to the Regional Income Tax Department office, it typically takes about 15 days for your PAN card to be reactivated.
