The facility of Online PAN verification is provided to certain entities. One can also do PAN verification on behalf of someone if they have all the required details related to the PAN verification.
There are three ways to do the PAN Verification via online.
Option 1: Verification of a single PAN at a time
Option 2: Bulk PAN verification (External Agencies)
Option 3: Bulk PAN verification based on ‘User Paying Model’.
External Agencies include both Non- Government, and Government can choose to register as a PAN verification agency and verify as many as number of PAN card details. Agencies fall under this category are DGFT, CBEC, FIU, Banks, UTIISL, NSDL, and MCA. One can check the process of bulk PAN verification on the website of the Income Tax India E-Filing, a government website.
User Pays Model can be used for bulk PAN verification by only approved government and non-government agencies. The service is chargeable on annual basis. It is a software-based PAN verification process. Registration charges for using this facility for bulk verification is Rs 12000 inclusive of 18% of GST. One can renew this facility on annual basis. The charges of renewal are same as initial registration charges.
The best part about using this service is that agency get a set number of free PAN verification each day. If by anyhow, verification request exceeds the limit, then in that case, one must pay individually for using the account created for service provider.
Any agency, if availing the API based or file and screen-based PAN verification facility then need to maintain enough deposit against its User ID to verify the PAN numbers.