The National Securities Depository Limited (NSDL) plays a pivotal role in India's financial infrastructure, primarily responsible for managing securities and related transactions in the stock market. One of the key services provided by NSDL is the facilitation of Permanent Account Number (PAN) issuance and verification.The PAN card is an essential document for Indian citizens and entities engaged in financial activities, serving as a unique identifier for tax purposes. NSDL, through its subsidiary Protean eGov Technologies Limited, offers a streamlined process for entities to register as PAN agencies, enabling them to provide PAN-related services to their customers. This article delves into the registration process for becoming an NSDL PAN agency, highlighting the necessary steps and requirements.
NSDL PAN agency registration
Entities wishing to avail the facility for online PAN verification must register with Protean. To do this, the entity must submit the following documents to Protean, ensuring they are signed and stamped by the same authorised signatory:
- Terms & conditions: These must be provided on the entity's letterhead.
- Non-Disclosure Agreement/Confidentiality Agreements (NDA): This document must also be on the entity's letterhead.
- Authorisation letter: The Digital Signature Certificate (DSC) holder should be different from the authorised signatory.
- DSC screenshots: Follow these steps to obtain the necessary screenshots:
- Open Internet Explorer and navigate to Tools > Internet Options > Contents > Certificates > Personal Tab.
- View the certificate and take screenshots of the following:
- General Tab
- Details Tab - Serial Number
- Details Tab - Authority Key Identifier
Additionally, two copies of the following documents, duly signed and stamped by the same authorised signatory, are required:
- Incorporation Certificate
- PAN card
- License or certificate issued by a regulatory body
- Declaration by Entities
- Balance sheet and Profit & Loss account statements for the latest assessment year
Furthermore, provide additional information on the entity’s letterhead, including:
- Authorised capital
- Disbursed amount (mention NA if not applicable)
- Existing number of customers as of [specific date]
- Expected number of customers per year
Finally, include the ITR-V (acknowledgement) for the latest assessment year. Account details for payment will be shared once the Virtual ID is created.
By ensuring all necessary documentation is prepared and submitted accurately, entities can efficiently complete the registration process and begin offering PAN verification services, contributing to a more organised and transparent financial ecosystem in India.
