PAN Verification API: All You Need to Know!

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If you are into a business that deals with money-lending, insurance processing, money transferring, payroll processing, tax filing, or any other digital payment services, you are required to verify the genuineness of your client’s PAN Card. But what’s the ideal way to check PAN cards in bulk? Well, outsourcing a PAN card API service is a reliable solution to check the activation status of a PAN card as well as get rid of fake cards.

You may require PAN verification for numerous reasons such as payment transferring or processing, KYC verification, employee onboarding, and even vendor onboarding. Here in this blog, we will be discussing everything about PAN verification API services. So, without any further ado, let’s get started with what actually a PAN Card is.

What is a PAN Card?

A PAN (Permanent Account Number) card holds a 10-character alphanumeric universal identification number that is issued by the income tax department, government of India. Apart from being a crucial part of your KYC (Know Your Customer) requirements, the PAN card is also a proof of identity for all your financial transactions.

It is one of the most important documents that you would require whenever you look to purchase a property, or vehicle, open a new bank account, invest in share markets, open a salary account, pay your taxes, and so on. 

What is the structure of a PAN Card?

PAN Card is issued to both individuals and businesses. The card displays important details such as the PAN number, your name, address, date of birth (for individuals), and date of registration (for businesses).  Basically, the card includes vital information about the PAN owner, strictly following the set format.

The unique 10-character alphanumeric PAN number is formatted as follows:

  • The first 5 characters are always letters, written in capitals.
  • The next 4 characters are numerals.
  • The last character is again a letter.

Now that you have a brief idea about PAN cards, let’s find out how PAN verification APIs work.

How does PAN Card API work?

Verifying thousands of PAN cards instantly and efficiently is a next-to-impossible task for businesses. Particularly, medium and big-sized businesses that deal with numerous vendors, customers, and employees, find great difficulties in carrying out bulk PAN verification. That’s where PAN verification API comes into place. It allows businesses to verify thousands of PAN cards within a few seconds.

PAN verification API is an interface that helps businesses to authenticate the PAN details of an individual with ease, reliability, and the highest accuracy. It not only helps to determine the legitimacy of the customer but also prevents fraudulent transactions.

That being said, did you know that even the Income Tax Department advises businesses to use PAN verification APIs to verify the credibility of their customers? So, if you want bulk PAN verification for your business, outsource the best PAN card API service provider. Just share your customers’ PAN numbers or upload PAN images on your provider’s PAN verification API and get the verification done instantly.

Which entities are eligible to register for online PAN verification?

Here’s the list of all the entities and individuals who are eligible to register for online PAN verification.

  • Reserve Bank of India
  • RBI-approved banking institutions
  • Income Tax Projects
  • RBI-approved credit information providers
  • Credit Card Issuing Firms
  • SEBI-approved Financial Advisors
  • Stock or Commodity exchanges
  • Central KYC Registry 
  • Central and State Government-owned institutions
  • RBI-approved NBFCs
  • Insurance Companies
  • Housing Financing Agencies
  • Fintech Companies

These are not the only entities eligible to register for PAN verification; there are many other entities as well. You can either browse the web or ask your PAN verification API service provider if you are eligible to register for the service.

Want to register for Online PAN verification? Here are the details that you need to submit.

  1. To begin with, let’s find out what are the payment details that you need to present for online PAN verification registration.
  • Payment mode
  • Payment amount
  • Instrument number
  1. Have a look at the following organizational details required to register for PAN verification services.
  • Entity Name
  • Entity Type
  • PAN/TAN of Entity
  • Contact Information
  • Personal Details
  1. Here are the details of the digital signature certificate requirements.
  • The company’s name that certified the digital signature 
  • Digital signature certificate class
  • Serial number of the digital signature certificate

What are the documents to be submitted for PAN verification registration?

The list of documents that you need to submit for PAN verification registration is:

  • An authorization letter with the company’s letterhead.
  • T&C of the company with the company letterhead.
  • Two photocopies of your PAN card (individual or business), signed by an authorized entity.
  • Two photocopies of Declaration, signed by an authorized entity.
  • Two photocopies of the Incorporation certificate, signed by an authorized entity.
  • Two photocopies of the License or Certificate that has been issued by the regulatory body, signed by an authorized entity.
  • Cheque or Demand Draft, made in favor of TIN, for the charges applicable. 

Bottom Line

Now that you have read the entire blog, you know how PAN card API works. So wait no longer! Submit the required documents and get registered for online PAN verification.  

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About the author

Anwesha Mukherjee

Anwesha Mukherjee is a Digital Media Publisher and freelance writer. She has been working in the publishing industry for over 6 years now, holding various positions at different publishing houses across India. Her work experience includes managing marketing campaigns, content development and website maintenance for various industries including healthcare, IT, finance and education.

She also offers ghostwriting services to help aspiring authors get their book published while maintaining creative control over the project.

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Anwesha Mukherjee

Anwesha Mukherjee is a Digital Media Publisher and freelance writer. She has been working in the publishing industry for over 6 years now, holding various positions at different publishing houses across India. Her work experience includes managing marketing campaigns, content development and website maintenance for various industries including healthcare, IT, finance and education.

She also offers ghostwriting services to help aspiring authors get their book published while maintaining creative control over the project.

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Mars Blogging launched in January 2019. Mars Blogging is an independent website publishing news related to business and major technology developments across the world.

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Mars Blogging is based in United States of America. The company also has offices in Louisiana, United States.

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