PAN application

Apply your PAN application now

WHAT IS PAN

Permanent Account Number or PAN is a means of identifying various taxpayers in the country. PAN is a 10-digit unique identification alphanumeric number (containing both alphabets and numbers) assigned to Indians. This is shared across the country and hence no two people on tax paying entities can have the same PAN.

WHY PAN IS IMPORTANT/USES OF PAN application

PAN is a unique identification number that enables each tax paying entity of India with the following: Proof of Identity Proof of Address Mandatory for Filing Taxes Registration of Business Financial transactions Eligibility to open and operate Bank Accounts Phone Connection Gas Connection Mutual Fund – PAN is beneficial to complete e-KYC for mutual fund investments. Uses of PAN in Financial Transactions: PAN needs to be quoted while paying direct taxes. Taxpayers need to input their PAN when paying income tax. While registering a business, PAN information needs to be furnished. A lot of financial transactions require PAN information. Some of these transactions are: Sale or purchase of property (immovable) which is valued at Rs.5 lakh or above Sale or purchase of a vehicle except a two-wheeler Payments made towards hotels and restaurants and which are above Rs.25,000 Payments made in connection with travel requirements to other countries. The amount in this case if it exceeds Rs.25,000, then you need to quote your PAN Payments of more than Rs.50,000 towards bank deposits Purchase of bonds worth Rs.50,000 or more Purchase of shares worth Rs.50,000 or more Purchase of insurance policy worth Rs.50,000 or more Purchase of mutual fund schemes Payments made for more than Rs.5 lakh towards purchase of jewelry and bullion To remit money out of India Transfer of funds from NRE to NRO account

DOCUMENTS REQUIRED FOR PAN APPLICATION

Individual Applicant POI/ POA: Aadhaar, Passport, Voter ID, Driving Licence

Hindu Undivided Family: An affidavit of the HUF issued by the head of HUF along with POI/POA details

Company: registered in India Certificate of Registration issued by Registrar of Companies

Firms/ Partnership (LLP): Certificate of Registration issued by the Registrar of Firms/ Limited Liability Partnerships and Partnership Deed.

Trust: Copy of Trust Deed or a copy of the Certificate of Registration Number issued by a Charity Commissioner.

Society: Certificate of Registration Number from Registrar of Co-operative Society or Charity Commissioner

Foreigners: Passport, PIO/ OCI card issued by the Indian Government, Bank statement of the residential country, Copy of NRE bank statement in India

HOW TO APPLY FOR PAN APPLICATION

PAN CAN BE APPLIES ONLINE AS WELL AS OFFLINE

ONLINE APPLICATION:

1) VISIT THE WEBSITE OF NDSL

2) FILL THE FORM WITH APPROPRIATE DETAILS

3) PAY THE REQUIRED DETAILS

4) ON SUCCESSFUL VERIFICATION OF DETAILS AND DOCUMENTS PAN WILL BE ALLOTED

OFFLINE APPLICATION:

1) COLLECT THE APPLICATION FORM FROM AUTHORISED PAN CENTER

2) FILL IT AND SUBMIT IT TO CENTER ALONG WITH REQUIRED DOCUMENTS AND FEES

3) ON SUCCESSFUL VERIFICATION OF DETAILS AND DOCUMENTS PAN WILL BE ALLOTED

STRUCTURE OF PAN

Name of the cardholder – Individual/ Company

Name of the father of the cardholder – Applicable for individual cardholders.

Date of birth – the cardholder’s date of birth in case of an individual or date of registration is mentioned in case of company or firm.

PAN Number – It is a 10 letter alpha-numeric number and each character represents distinct information of the cardholder.

First three letters – are purely alphabetical in nature and contain three letter of the alphabet from A to Z.

The fourth letter – this represents the category of the taxpayer. The various entities and their respective characters are as follows:

A – Association of Persons

B – Body of Individuals

C – Company

F – Firms

G – Government

H – Hindu Undivided Family

L – Local Authority

J – Artificial Judicial Person

P – Individual

T – Association of Persons for a Trust

The fifth letter – the fifth letter is the first letter of the individual’s surname

Remaining letters – remaining characters are random. The first 4 characters are numbers while the last one is an alphabet.

Signature of the individual – PAN Card also acts as a proof of the individual’s signature required for financial transactions.

Photograph of the individual – PAN acts as a photo identity proof of the individual. In case of companies and firms, no photograph is present on the card.

Got a question?

We'd love to talk about how we can help you.

Get all your queries solved

WHO CAN APPLY IT?

PAN Card can be applied by individuals, companies, non-resident Indians or anyone who pays taxes in India.

HOW TO CHANGE/UPDATE/EDIT DETAILS IN PAN?

FOLLOW THE FOLLOWING STEPS: 1) Visit the NSDL website and select the update PAN section 2) Select option “Correction” in existing PAN data 3) A copy of (POI/POA) supporting documents are required

WHAT IS THE PROCEDURE TO SURRENDER?

ONLINE APPLICATION:

1) Visit NSDL website

2) Fill and submit PAN Change Request application form by mentioning the PAN which you are using currently on top of the form. All other PAN/s inadvertently allotted to you should be mentioned in item no. 11 of the form and the corresponding PAN card copy/s should be submitted for cancellation along with the form.

OFFLINE APPLICATION:

1) Visit the authorised PAN center

2) Get and fill up Form 49A for Change or Correction in PAN, mention the PAN number to be surrendered and submit the form to the nearest UTI or NSDL TIN facilitation centre. Save a copy of Acknowledgment for future reference3

3) write a letter addressed to the Assessing Officer of your jurisdiction (You can find your Jurisdiction officer from www.incometaxindiaefiling.gov.in (Know your Jurisdiction Officer). Mention your personal details such as the full name on your PAN card, date of birth (or date of incorporation in case of companies or firms), PAN card number to be retained and details of duplicate PAN card being surrendered and keep the acknowledgement received.

4) At the time of submission of Letter mentioned in Point 2 above, also enclose a copy of Duplicate PAN to be surrendered along with Acknowledgment Copy obtained from NSDL TIN facilitation center as obtained in point 1 mentioned above

CAN PAN BE ALLOTTED TO NON INDIVIDUALS ALSO?

YES, PAN can be allotted to non individual also such as it is issued to companies, partnership firms and to LLPs also.

WHICH IS THE WEBSITE FOR ONLINE PAN APPLICATION?

https://www.tin-nsdl.com is the website for online pan application.

CAN PAN BE USED AS AN IDENTITY PROOF?

YES, PAN can be used as an identity proof.

WHAT IS THE VALIDITY OF PAN?

The PAN is valid for lifetime

WHAT IF I HAVE A TWO PAN?

Whatever may be the reason, person should not have more than one PAN numbers. Under the Income Tax Act, penalty for having more than one PAN is Rs 10,000.So, if you have two PAN, then you should apply for the surrender of additional PAN. You can apply for surrender of PAN Offline and online both.

IS PAN MANDATORY FOR EVERY INDIVIDUAL?

PAN is not mandatory for every individual. But some of the financial transaction mandates the PAN. Thus it is advisable for every individual to have PAN.