How does online PAN Verification Services Facilitates Quick Onboarding?

Who does not wish for quick and smooth onboarding of their customers and employees? There are various documents required to be verified for the authenticity of customers and employees. PAN card verification is one of them. It involves three methods viz screen-based, file and screen-based and software-based verification. PAN card details check can be done only by a registered entity of NSDL e-Governance Infrastructure Limited. Income Tax Department (ITD) has authorized NSDL e-Gov to start online PAN verification services to allow the authorized entities to verify PAN. This has greatly helped the organisations, employees and customers because of easiness, quickness and safeness in the process. The system helps to verify PAN card online making KYC verification secure, authentic and tamper-proof. You can even perform PAN card details check online.

Online KYC verification of documents for onboarding is gaining popularity after the onset of the pandemic. The fear of infection and difficulty in travelling due to lock-down has made organisations resort to eKYC verification

Types of PAN Card Verification

Screen-Based PAN Verification

  1. You have to log into your NSDL account using your credentials.
  2. You have to enter the PAN card details in their respective field and submit them.
  3. The response to your query will be displayed on the screen.
  4. Only up to 5 PAN card details check can be done using this method.

File and Screen-Based PAN Verification

  1. You have to log into your NSDL account using your credentials.
  2. You have to provide PAN card details in a file in a prescribed format as suggested by NSDL.
  3. You will receive a file containing the PAN card details on your account within 24 hours.
  4. You can view it by logging into your account after 24 hours.
  5. If the file format is not correct, you will get a notification on your account within 24 hours.
  6. You can download the file from your account within 15 days.
  7. Only up to 1000 PAN card details check can be done using this method.

Software-based PAN Verification

In this method, your organisation should own software that interfaces with the online PAN Verification platform of NSDL. The response to your query about any PAN number verification is sent to your software.

PAN Verification by PAN Number

  1. You can also verify PAN on the Income Tax Department website.
  2. You have to log into the e-filing portal of the Income Tax Department website.
  3. You have to click the “Verify Your PAN Details” link on the left side of the page.
  4. “Verify Your PAN” page will appear. On this page, you have to fill in all the required details like name, date of birth, PAN number, status such as Individual, Hindu Undivided Family (HUF), company, etc.
  5. You have to enter the captcha 
  6. The status of the PAN card will be displayed.

For PAN card verification, the entities have to pay NSDL a registration fee to get registered. It has to be renewed each and every year. The registration fee is 14,160 INR inclusive of GST. If you verify PAN using the e-filing portal of the Income Tax Department, then there are no charges. But you cannot verify the PAN number in bulk as you do it on NSDL.

Features of Online PAN Card Verification

  • Easy: It is much easy to do PAN card details check online because you need not go in person to IT Department to get it verified.
  • Safe: It is safe because you are provided with an account and credentials to access the NSDL website or e-filing portal of the IT Department.
  • Fast: It is fast because you can save transit time to IT Department and wait in the queue to verify the PAN number.
  • Legal: It is legally valid as IT Department has authorized NSDL to provide an online platform to verify PAN card.
  • Secure: It is secure because only authorized personnel can access the NSDL or e-filing portal of the IT Department for PAN card verification.

Benefits of Online PAN Verification

  • It is authentic as the records are curated and maintained by the IT Department.
  • It is environmentally friendly as it is paperless.
  • It is trouble-free as you need not transit from one place to another to verify the PAN number.
  • It is suitable for government, non-governmental organisations, private sector organisation and public sector organisations.
  • It is economical as you can cut down on transit cost of your employees to IT Department.
  • It also helps in reducing your manpower.

Conclusion

Online PAN number verification is a quite effective and efficient way of verifying PAN card details for KYC. It is faster and helps you to onboard your customers and employee in a short span of time. It is highly reliable as the details are sourced from the IT Department of India who had already verified the details of the customers. In order to leverage technology, PAN Verification Services are moving on digital platforms.

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