Different Types of Mutual funds Schemes

1. Diversified Equity Funds
These funds diversify the equity component of their Asset Under Management (AUM), across
various sectors. Such funds avoid taking sectoral bets i.e. investing more of their assets towards
a particular sector such as oil & gas, construction, metals etc. Thus, they use the diversification
strategy to reduce their overall portfolio risk.
2. Sector Funds
These funds are expected to invest predominantly in a specific sector. For instance, a banking
fund will invest only in banking stocks. Generally, such funds invest 65% of their total assets in a
respective sector.
3. Index Funds
These funds seek to have a position which replicates the index, say BSE Sensex or NSE Nifty.
They maintain an investment portfolio that replicates the composition of the chosen index, thus
following a passive style of investing.
4. Exchange Traded Funds (ETFs)
These funds are open-ended funds which are traded on the exchange (BSE / NSE). These funds
are benchmarked against the stock exchange index. For example, funds traded on the NSE are
benchmarked against the Nifty. The Benchmark Nifty BeES is an example of an ETF which links to
the stocks in the Nifty. Unlike an index fund where the units are traded at the day’s NAV, in ETFs
(since they are traded on the exchange) the price keeps on changing during the trading hours of
the exchange. If you as an investor want to buy or sell ETF units, you can do so by placing orders
with your broker, who will in-turn offer a two-way real time quote at all times. The AMC does
not offer sale and re-purchase for the units. Today, ETFs are available for pre-specified indices.
We also have Gold ETFs. Silver ETFs are not yet available.
5. Fund of Funds (FOF)
These funds invest their money in other funds of the same mutual fund house or other mutual
fund houses. They are not allowed to invest in any other FOF and they are not entitled to invest
their assets other than in mutual fund schemes/funds, except to such an extent where the fund
requires liquidity to meet its redemption requirements, as disclosed in the offer document of
the FOF scheme.
6. Fixed Maturity Plan (FMP)
These funds are basically income/debt schemes like Bonds, Debentures and Money market
instruments. They give a fixed return over a period of time. FMPs are similar to close ended
schemes which are open only for a fixed period of time during the initial offer. However, unlike
closed ended schemes where your money is locked for a particular period, FMPs give you an
option to exit. Remember though, that this is subject to an exit load as per the funds regulations.
FMPs, if listed on the exchange, provide you with an opportunity to liquidate by selling your
units at the prevailing price on the exchange. FMPs are launched in the form of series, having
different maturity profiles. The maturity period varies from 3 months to one year.

Source: personalfin.com

What is a mutual fund?

What is a mutual fund?

A mutual fund is a legal vehicle that enables a collective group of individuals to:

i. Pool their surplus funds and collectively invest in instruments / assets for a common investment
objective.

ii. Optimize the knowledge and experience of a fund manager, a capacity that individually they may
not have

iii. Benefit from the economies of scale which size enables and is not available on an individual
basis.

Investing in a mutual fund is like an investment made by a collective. An individual as a single
investor is likely to have lesser amount of money at disposal than say, a group of friends put

together.

Now, let’s assume that this group of individuals is a novice in investing and so the group turns over
the pooled funds to an expert to make their money work for them. This is what a professional Asset
Management Company does for mutual funds. The AMC invests the investors’ money on their
behalf into various assets towards a common investment objective.
Hence, technically speaking, a mutual fund is an investment vehicle which pools investors’ money
and invests the same for and on behalf of investors, into stocks, bonds, money market instruments
and other assets. The money is received by the AMC with a promise that it will be invested in a
particular manner by a professional manager (commonly known as fund managers). The fund
managers are expected to honour this promise. The SEBI and the Board of Trustees ensure that this
actually happens.
The organisation that manages the investments is the Asset Management Company (AMC). The
AMC employs various employees in different roles who are responsible for servicing and managing
investments.

The AMC offers various products (schemes/funds), which are structured in a manner to benefit and
suit the requirement of investors’. Every scheme has a portfolio statement, revenue account and
balance sheet.
 1. Open ended funds
These funds are available for subscription throughout the year. These funds do not have a fixed
maturity. Investors have the flexibility to buy or sell any part of their investment at any time, at
the prevailing price (Net Asset Value - NAV) at that time.

2. Close Ended funds
These funds begin with a fixed corpus and operate for a fixed duration. These funds are open for
subscription only during a specified period. When the period terminates, investors can redeem
their units at the prevailing NAV.
 Asset classes
1. Equity funds
These funds invest in shares. These funds may invest money in growth stocks, momentum
stocks, value stocks or income stocks depending on the investment objective of the fund.
2. Debt funds or Income funds
These funds invest money in bonds and money market instruments. These funds may invest into
long-term and/or short-term maturity bonds.
3. Hybrid funds
These funds invest in a mix of both equity and debt. In order to retain their equity status for tax
purposes, they generally invest at least 65% of their assets in equities and roughly 35% in debt
instruments, failing which they will be classified as debt oriented schemes and be taxed
accordingly. (Please see our Tax Section on Page 39 for more information.) Monthly Income
Plans (MIPs) fall within the category of hybrid funds. MIPs invest up to 25% into equities and the
balance into debt.
4. Real asset funds
These funds invest in physical assets such as gold, platinum, silver, oil, commodities and real
estate. Gold Exchange Traded Funds (ETFs) and Real Estate Investment Trusts (REITs) fall within
the category of real asset funds.

Source: Personalfin.com

Third Party cheques will not be accepted for mutual funds Investments! From November, 2010

Latest Update on Mutual Funds

Third Party cheques will not be accepted for mutual funds Investments! From  15th November, 2010

In order to protect the interest of the investors, AMFI has issued Best Practice Guidelines to all AMCs advising them not to accept third party cheques in respect of Mutual Fund Investments (with a few exceptions) effective from November 15, 2010. Source: Amfi India

Investors in Mutual Funds to comply with 'KNOW YOUR CLIENT' (KYC)

What is KYC?? KYC means Know Your Client

Guidelines issued by Securities and Exchange Board of India under The Prevention of Money Laundering Act, 2002 (�PMLA�) requires Mutual Funds to follow enhanced know your Client (KYC) norms. This FAQ is only meant to clarify certain questions relating to enhanced KYC procedures. Please contact your distributor/ Concerned Mutual Fund for further clarifications.
W.E.F. February 1, 2008 Investors in Mutual Funds investing Rs. 50,000/- and above are required to comply with Know Your Client (KYC) norms under the Prevention of Money Laundering Act 2002 (PMLA).

KNOW YOUR CLIENT (KYC) :

In order to comply with regulatory provisions under the Prevention of Money Laundering Act 2002, Rules issued thereunder and related guidelines/circulars issued by SEBI, KYC formalities are required to be completed for all Unit Holders, including Guardians and Power of Attorney holders, for any investment (whether new or additional purchase) of Rs. 50,000 or more in mutual funds. For the convenience of investors in mutual funds, all mutual funds have made special arrangements with CDSL Ventures Ltd. (CVL), a wholly owned subsidiary of Central Depository Services (India) Ltd. (CDSL)). DOCUMENTS AND INFORMATION TO BE PROVIDED BY INVESTORS: Investors in mutual fund schemes have to provide: (1) Proof of Identity (2) Proof of Address (3) PAN Card (4) Photograph WHERE TO COMPLETE THE FORMALITIES: Investors could complete the formalities by submitting the KYC form (Click here for Individual KYC Form) and relevant documents at the Points of Services (POS). (Click here for List of POS) To start with, these POS will be the select branches / offices of mutual funds, registrars and select branches of some distributors. The application form for complying with KYC will be available from these POS. The application form could also be downloaded from the websites of all mutual funds (Click here for list of Mutual Funds with websites) and CVL www.cvlindia.com. Investors could contact offices of mutual funds, registrars and mutual fund distributors (ARN Holders) for further details and assistance. What is a KYC Application Form? A KYC Application Form has been designed for Individual and Non-Individual Investors separately. The soft copy of these KYC forms will be made available on the website of all mutual funds, AMFI and Central Depository Services (India) Limited (CDSL). You may also approach your distributor for a form. It is important to read the instructions printed on the KYC Application Form while filling-up the form. Source: Amfi india (http://www.amfiindia.com)

Systematic Investment Plan (SIP)

SIP is similar to a Recurring Deposit. Every month on a specified date an amount you choose is invested in a mutual fund scheme of your choice. 

Benefits:

1. Become A Disciplined Investor

2.  Reach Your Financial Goal easily

3. Take Advantage of Rupee Cost Averaging

4. Grow Your Investment With Compounded Benefits

5.  Do All This Effortlessly

6. Helps to fulfill your dreams

How to start investing in SIP

1. Decide SIP amount you want to invest
2. Select the mutual fund schemes that suit your investment objectives.
3. Fill-up the Application form
4. Submit that form along with cheque and pan card details in nearest AMC or collection Center

 

 

Tax saving options under section 80C

Section 80C Deductions

 

 

 

 

 

 

 

 

 

 

 

 

 

Section 80C of the Income Tax Act, allows certain investments and expenditure to be tax-exempt. The total limit under this section is Rs. 100,000 (Rupees One lac) which can be any combination of the below:

• Contribution to Provident Fund or Public Provident Fund
• Payment of life insurance premium
• Investment in pension Plans
• Investment in Equity Linked Savings schemes (ELSS) of mutual funds
• Investment in specified government infrastructure bonds
• Investment in National Savings Certificates (interest of past NSCs is reinvested every year and can be added to the Section 80 limit)
• Payments towards principal repayment of housing loans.Also any registration fee or stamp duty paid.
• Payments towards tuition fees for children to any school or college or university or similar institution. (Only for 2 children)or towards coaching fee of various competitive exams.

Post office investments The investment can be from any source and not necessarily from income chargeable to tax.

whether in PayPal Multi-User Access is possible??

whether  in PayPal Multi-User Access is possible??

 Yes that is possible in PayPal Business Account.

PayPal's Multi-User Access feature allows you to give multiple users various levels of access to a single PayPal Business account. With Multi-User Access, you can add multiple logins and access levels for your employees, so they can complete necessary tasks without having access to extraneous features. By controlling the access your users have to your account, you can run your business smoothly and not have to worry about allowing total access to your account.


source: Paypal.com

Why should I invest money in India?

Here is some thoughts of Mr. Nilesh Shah Dy MD & CIO, ICICI PRU AMC. It's a Q&A session released in THE ECONOMIC TIMES, 19 AUGUST 2010.

Why should I invest in India?

Investing in India makes sense as it will create long term wealth for you. A case in point is Maruti Suzuki’s stock performance since the time of its listing compared with that of its Japanese parent Suzuki. Maruti got listed in 2003 and has outperformed Suzuki by over 11 times. Maruti has been the biggest value creator for Suzuki. You should invest in India only if you want to make serious money.

What about India’s fiscal deficit? Isn’t that a cause for worry?

The government has a clear road map for containing the deficit and has committed to bring it down to 4.1% of GDP over the next two years. Moreover, India’s GDP is also understated as there exists a parallel economy, which is slowly getting integrated into its main counterpart.

I am also worried about trade and current account deficit (CAD).

Our trade deficit does not take into account two of the largest exports, namely software services to markets like the US and the movement of labour to regions such as the Middle East. CAD is likely to be around $30-35 billion for FY11. The deficit turns to a surplus if you remove gold imports worth $25 billion and the expense incurred on overseas education which Indians are lavishing on their children. Even that should be treated as investment for the future rather than consumption.

I am worried about your low rating with global rating agencies.

For 5,000 years since the days of the Indus Valley civilisation, India has not defaulted on its overseas debt obligations. Will you trust this longest track record of no default or the rating agencies?

I am worried about India’s record on corporate governance.

While our physical infrastructure is not at par with global standards, our financial regulation is equal if not better than world standards. Our regulatory watchdogs are at par with the best in the world and are always evolving to ensure that India’s governance standards match the best globally. We have had our share of the Enrons and the WorldComs, but they are easy to detect and avoid.

How will India’s economy progress without a world-class infrastructure?

We lack adequate infrastructure. But things are progressing apace. Three decades ago, we had to wait for more than 10 years to get a telephone at home. Today, the situation is completely reversed — mobile connections are available on demand, we have the cheapest call rates anywhere in the world and our telecom networks are at par with global standards. Today, we have power cuts in most part of India. But we are building our generation capacity and, hopefully like telecom, electricity production will expand and cut into shortages. India did not develop its infrastructure as we were short of capital. Now if you provide the money, infrastructure will get built.

I am worried about rising corruption here.

Show me one country where it is not present in various degrees. India is fighting and reducing corruption by increasing education and awareness. The Right to Information Act is one giant leap in this direction. Also, remember that there are very few places in the world, where hotel staff will put themselves in front of bullet ahead of their guests or the police, armed with only bamboo sticks, will capture a fully armed terrorist alive.

I am worried about the bureaucracy.

Every coin has two sides. Look at the Reserve Bank of India. No other central bank in the world is managing conflicting objectives like growth, inflation, financial sector stability, interest rates, currency, government’s borrowing programme, etc, like the RBI.

India has created $1.2 trillion-plus economy with all these limitations and more. Imagine what can be created as these hurdles are gradually getting reduced.

I am worried about valuations. Isn’t India expensive?

Good things don’t come cheap. We had a bargain sale between the third quarter of 2008 and the second quarter of 2009. Bad luck, but you missed out! India is expensive relative to peers for the current year to March, but not when compared with earnings expected in FY12. Higher return on equity and better earnings growth will always keep India at the higher end of valuation among peers.

How does India compare with China?

Autocracy, undervalued currency and large inflows of foreign capital have helped China grow much faster and far ahead of India. But some parts of India, like Gujarat, are growing at comparable rates for many years without support from above factors. India and China are complimentary to each other in your portfolio.

India is so good, why do I always lose money on India?

Growth is not a substitute for valuation. You lose money on India because you try to trade on stocks rather than be an investor in the growth story. India is not an exception to the rule of economics. If you become a long-term investor, you will have to work really hard to lose money.

Source: 

THE ECONOMIC TIMES, 19 AUGUST 2010.

How you can Invest in Gold ETF Funds

Give your investments the power of gold.

Gold’s most valuable contribution to a portfolio, lies in the fact that it has a low correlation with most other assets. This is due to the fact that the factors affecting the price of gold differ from those that influence the price of most other asset classes.

What is Gold ETF?

A Gold ETF is an ETF whose assets are invested in gold bullion with the objective of generating returns that are in line with the performance of gold (and gold related instruments including derivatives – as and when permitted by SEBI) subject to tracking errors.

How do Gold ETFs differ from physical gold?

Unlike physical gold, Gold ETFs are held in demat / electronic form and can be traded on a stock exchange just like buying and selling stocks.

How are Gold ETFs better than physical gold?

Gold ETFs score over physical gold, because they eliminate the hassles and drawbacks of physical gold (e.g. impurity risk), are more tax-efficient and allow you to invest in small amounts.

How are Gold ETFs better than Gold Funds?

Gold ETFs are better than Gold Funds because in comparison to Gold Funds, Gold ETFs are less volatile. While gold ETFs invest in physical gold, Gold Funds invest in equities of gold mining companies; and gold stocks are more leveraged to the gold prices than the gold itself.

What is the purity of the underlying gold?

Gold ETFs invest in standard gold bullion with purity (fineness) of 995 parts per1,000 (99.5%) or higher.

How are Gold ETFs taxed under Income Tax Act, 1961?

Gold ETFs schemes are treated like non-equity mutual funds for the purpose of taxation.So, the gains attract short term capital gains (STCG) tax if held for less than one year and long term capital gains (LTCG) tax if the period of holding is more than a year.

(You can check this on :Tax treatment for Gold ETF)

What are main benefits in investing in Gold ETFs Fund?

Assured purity

No storage or security concerns

Easy liquidity

Trade in small amounts

Why should an investor invest in Gold ETF? No worry on adulteration Gold provides diversification to the portfolio Gold is considered as a Global Asset Class Gold is used as a Hedge against Inflation Gold is considered to be less volatile compared to equities Held in Electronic Form Store of value Extremely Liquid

Advantages of Investing in Gold ETFs Potentially cheaper to have price exposure to gold price as compared to other available avenues Quick and convenient dealing through demat account No storage and security issue for investors Transparent pricing Taxation of Mutual Fund Can be traded on stock exchange like buying / selling a stock Ideal for retail investor as minimum lot size to trade is one unit on secondary market NAV of a unit will track price of approximately ½ or 1 gram of gold Investor Requirements for trading in Gold ETF Trading account with a stock exchange broker Demat account as Gold ETF can be traded only in demat form

Which Amc's offer Gold ETF Funds?

1. HDFC Gold Exchange Traded Fund 

2. ICICI Prudential Gold ETF NFO or ICICI Gold Exchange Traded Fund

3. Reliance Gold Exchange Traded Fund

4. Kotak Gold Exchange Traded Fund
5. Gold Bench Mark Exchange Traded Fund

6. UTI Exchange Traded Fund
7. Quantum Gold Fund Exchange Traded Fund

 Also Refer:NSE Codes for Gold ETF funds (Exchange Traded Funds)

All Mutual Funds Schemes will now be listed in Stock Exchange

Sebi wants listing of all mutual fund schemes. Securities and Exchange Board of India (Sebi) is planning to make listing of all schemes mandatory. These will include all debt, equity, open-ended and close-ended schemes.
The aim of this to now transacting in mutual funds in any scheme will be as easy as investing in shares or stocks.

According to Sebi officials, the basic reason for listing all mutual funds is to give investors another option. Also, costs will come down further.


However, Sebi’s decision has been delayed by a few problems. For one, there are over 2,000 schemes in the market. Then, there are listing costs. When listing of fixed-maturity plans (FMPs) was made mandatory last year, cost was an issue.

At present, the cost of listing FMPs depends on assets under management. The cost is Rs 16,000 for funds that have AUM up to Rs 100 crore, for the first six months. The cost of listing exchange-traded funds is the same. “The listing cost of schemes may be too high, especially for smaller fund houses. It should not be a big deal for large players,” said a source.

Trading of mutual funds at the exchanges has not really taken off. Monthly volumes on the BSE, the bigger player in this segment, rose from Rs 18.80 crore to Rs 78.85 crore in July. The reason: settlements take place directly between fund house and investor. That is, units of a mutual fund are deposited directly into the demat account of an investor.

When trading through the exchanges, things are different. In comparison, in the case of stock trading, the broker takes delivery of shares.

So, if the cheque of a mutual fund investor bounces, the broker may have to chase an investor. “It is this lack of control at the broker’s end that does not encourage them to aggressively promote mutual fund trading. We are looking at a process whereby units can be delivered through brokers,” said an exchange official.

Source: Business standard
http://www.business-standard.com/

Procedure for obtaining Permanent Account Number (Pan card)

How do I apply for PAN?

You can apply for PAN by filling up Form 49A: Application for Allotment of Permanent Account Number (PAN application form). You can also apply for PAN online through NSDL-TIN website.

Can I make an application for PAN on plain paper?

No. Application for PAN can be made only in Form 49A notified by Central Board of Direct Taxes on 29.05.2003.

Where can I obtain application form for PAN (Form 49A)?

You can obtain the application form for PAN (Form 49A) in the format prescribed by Income Tax Department from TIN-Facilitation Centres (TIN-FCs), any other stationery vendors providing such forms or from NSDL-TIN website.

Are there any charges for obtaining Form 49A?

The form is freely downloadable from NSDL-TIN website. You can also obtain the form from TIN-FCs.

You can submit your duly filled and signed PAN application form alongwith the supporting documents to any of the TIN-FCs or PAN Centres managed by NSDL.

You have to pay Rs.85 (plus service tax, as applicable) to TIN-FCs as processing fees while submitting Form 49A. If address for communication is a foreign address, the fee payable is Rs. 744 (including service tax).

What will I receive on submission of the PAN application form to a TIN-FC?

You will receive an acknowledgment with a unique 15-digit acknowledgment number on submission of the PAN application form.

How can I enquire about the status of my application?

(i) You can inquire the status of your application by accessing NSDL-TIN website at the "Status track" option and quoting your unique 15-digit acknowledgement number after three days of your application.
(ii) You can also obtain status of your application through SMS (Short messaging service) using mobile phones. For this, you have to type the word "NSDLPAN" followed by your 15-digit acknowledgement number and send it to 57575. For example: SMS NSDLPAN 012345678901234 to 57575.

How do I fill the application form 49A?

You should fill the application form legibly in English capital letters with black ink. You should read all the instructions before filling up Form 49A.

Is a photograph compulsory for making an application for PAN?

'Individual' applicants should affix a recent colour photograph (size 3.5 cm x 2.5 cm) in the space provided on the form. The photograph should not be stapled or clipped to the form. The applicant should not sign across the photograph. The clarity of image on PAN card will depend on the quality and clarity of photograph affixed on the form.

What documents should I submit along with the application form?

You have to submit the following documents with the application form:
A] Proof of identity (POI)
B] Proof of address (POA)
The documents for POI and POA depend on the citizenship and the status of the applicant.

Which documents will serve as proof of identity in case of individual applicants and HUF applicants?

1. Individual and HUF Applicants who are citizens of India and located within India at the time of application for PAN:
Copy of any one of the following will serve as a proof of identity:

• School leaving certificate
• Matriculation certificate
• Degree of recognized educational institution
• Depository account statement
• Valid Credit card
• Bank account statement
• Water bill
• Ration card
• Property tax assessment order
• Passport
• Voter's identity card
• Driving license
• Certificate of identity signed by a Member of Parliament or Member of Legislative Assembly or Municipal Councilor or a Gazetted Officer.

Note: 

• Document being submitted should be in the full name of the applicant as mentioned in the PAN application.
• In case the PAN applicant is a minor, any of above documents of any of the parents or guardian of such minor shall serve as proof of identity.
• In case PAN application is made on behalf of a HUF, any of above documents in respect of karta of the HUF will serve as proof of identity.

2. Citizen of India located outside India at the time of application for PAN:
Copy of passport will serve as a proof of identity

3. Foreign Citizen located in India at the time of application for PAN
Copy of passport and Copy of Person of Indian Origin (PIO) card issued by Government of India will serve as a proof of identity

4. Foreign Citizen located outside India at the time of application for PAN
Copy of any one of the following will serve as a proof of identity:

• Passport
• Other National ID attested by Indian Embassy/Consulate/High Commission/Apostille
• Person of Indian Origin (PIO) card issued by Government of India

What documents should be submitted as proof of address for individual applicants and HUF applicants?

1. Individual and HUF Applicants who are citizens of India and located within India at the time of application for PAN:
Copy of any one of the following will serve as a proof of address:

1. Electricity bill*
2. Telephone bill*
3. Depository account statement*
4. Credit card statement*
5. Bank account statement*
6. Rent receipt*
7. Employer certificate*
8. Ration card
9. Passport
10. Voter's identity card
11. Property tax assessment order
12. Driving license
13. Certificate of address signed by a Member of Parliament or Member of Legislative Assembly or Municipal Councilor or a Gazetted Officer.

Note:

• *For serial numbers 1 to 7, proof of address should not be more than six months old from the date of application.
• Document being submitted should be in the full name of the applicant as mentioned in the PAN application.
• In case the PAN applicant is a minor, any of above documents of any of the parents or guardian of such minor shall serve as proof of address.
• In case PAN application is made on behalf of a HUF, any of above documents in respect of Karta of the HUF will serve as proof of address.
• It is mandatory for individuals and HUF to mention their residential address on the PAN application and to submit valid proof of the same.
• If office address is selected as communication address by Individual and HUF applicants, then POA for office address is also required.

2. Citizen of India located outside India at the time of application for PAN
Copy of any one of the following will serve as a proof of address:

• Passport
• Bank account statement in country of residence
• NRE bank account statement**

3. Foreign Citizen located in India at the time of application for PAN
Copy of any one of the following will serve as a proof of address:

• Passport
• Bank account statement in India
• Residential permit issued by the State Police Authorities
• Registration certificate issued by the Foreigner's Registration Officer
• Person of Indian Origin (PIO) card issued by Government of India
• NRE bank account statement**

In case ‘Office Address (of India)’ is mentioned in application made by foreign citizens , then it is mandatory to provide all five documents mentioned below as proof for office address.

Copy of Visa application to Indian authorities + Copy of Visa granted + Copy of appointment letter/contract from Indian Company + Certificate (in original) of address in India of applicant issued by authorized signatory of employer on employer’s letter head mentioning the PAN of the employer + copy of PAN card for the PAN mentioned in the employer’s certificate.

4. Foreign Citizen located outside India at the time of application for PAN
Copy of any one of the following will serve as a proof of address:

• Passport
• Other National ID attested by Indian Embassy/Consulate/High Commission/Apostille
• Bank account statement in country of residence, duly attested by Indian Embassy/High Commission / Consulate / Apostille in the country where applicant is located
• Person of Indian Origin (PIO) card issued by Government of India
• NRE bank account statement**

Note: 

** showing at least two customer induced transactions in last six months period and duly attested by Indian Embassy / Consular office / High commission or Apostille or by the manager of the bank in which the account is held. The applicant may be a joint holder.

What is the procedure for applicants who cannot sign?

In such cases, Left Hand Thumb Impression (preferably in black ink) of the applicant should be taken on Form 49A/change request form at the place meant for signature. This should be attested by a Magistrate or a Notary Public or a Gazetted Officer, under official seal and stamp.

Is father’s name compulsory for female applicants (including married/divorced/widow)?

Female applicants, irrespective of their marital status, should write only father’s name in the PAN application form. There is no provision to mention husband's name in the application.

Is it compulsory for me to mention telephone number/email id on application Form 49A?

Either the telephone number or the email should be mandatorily mentioned in the application.

• When the telephone number is mentioned, it is necessary to mention the STD code. In case of mobile number, country code should be mentioned as STD code. When the telephone is provided by WLL service providers, the STD code should be mentioned.
• If email id is mentioned, PAN will be communicated on email id when it is allotted by the Income Tax Department.

Source: 

http://www.tin-nsdl.com/faqPANprocedure.asp

How to track your PAN card status online

A Web-enabled tracking system to enable tax payers and applicants to find out the status of their PAN cards will also be set up within two months, where applicants can find out their status by entering their details.

The applications will be collected by UTI-ISL and sent to the National Computer Centre of the Income-Tax department which will allot the numbers. The cards with new hologram and security features will be prepared by the company.

The UTIISL is setting up a Web-based system for monitoring movement of each application till the PAN card is delivered to the applicant.

Future PAN applicants will be able to ascertain status of their application through such Web-based query system.

Track your PAN/TAN Application Status

https://tin.tin.nsdl.com/tan/StatusTrack.html