A PAN card, or Permanent Account Number card, is a unique 10-character alphanumeric identifier issued by the Indian Income Tax Department to individuals, businesses, and entities. It serves as a vital proof of identity and is required for various financial transactions in India, including opening bank accounts, filing income tax returns, and conducting high-value financial transactions. PAN cards contain details such as the holder's name, date of birth, and a unique PAN number.
The PAN (Permanent Account Number) card is an important document for conducting even the most simplest of financial transactions like opening a savings bank account or applying for a debit/credit card.
It is a 10-digit alphanumeric identity allotted by the income tax department to an individual, company, Firm, Hindu Undivided Family (HUF), AOP, or any other person.
These days you can apply for PAN online, albeit partially. This is because once all the steps have been completed, you still have to send the acknowledgment receipt to National Securities Depository (NSDL) or UTI Infrastructure Technology and Services Limited (UTIITSL) - agencies authorised by the income tax department to facilitate PAN applications on its behalf.
PAN card become a primary documents for many things like, opening a bank account, Buy/Sale of Immovable Property, Investment, Loans, Credit Card, Buy/Sale of Motor Vehicle etc. and in many cases PAN card is accepted as ID proof of individual.
PAN is mandatory to file your Income Tax Return and if your are providing services to client and client deducted TDS from the payment proceeds, here you need to furning your PAN to avoid higher deduction of 20%.
NON-PAN holder get TDS deduction at higher flat rate 20%. Rule 114B of the Income Tax Rule - mention list of transactions and activities wherein PAN is mandatory to quote
Amount Exceeding Rs 10 lakhs or valued by stamp valuation authority referred to in section 50C of the Income Tax Act at an amount exceeding Rs 10 Lakhs.
All Such Transactions
Contract for sale/purchase of a value exceeding Rs.1 lakh
Cash payment exceeding Rs.50,000/-.
Cash deposit exceeding Rs.50,000/- in a day.
Cash payment in connection with foreign travel or purchase of foreign currency of an amount exceeding Rs.50,000/- at any one time (including fare, payment to travel agent)
Credit cardApplication to banking company/ any other company/institution for credit card. Co-operative banks also to comply.
Mutual fund unitsPayment exceeding Rs.50,000/- to a company/ institution for acquiring its debentures/ bonds.
RBI bondsPayment exceeding Rs.50,000/-.
Life insurance premiumPayment exceeding Rs.50,000/- in a year.
Purchases or sales of goods or servicesPurchase/ sale of any goods or services exceeding Rs.2 lakh per transaction.
Cash cards/ prepaid instruments issued under Payment & Settlement ActCash payment aggregating to more than Rs.50,000 in a year.
Bank Drafts/Pay Order/ Bankers ChequePayment in cash for an amount exceeding Rs 50,000 in a day to any bank/cooperative bank.
Opening a Demate AccountAll such transactions
There two Service providers in India 1) NSDL and 2) UTIITSL - Choose anyone
For Example You choose NSDL. Visit https://tin-nsdl.com Click on Apply for PAN Online.
Digital Signature based or Other than Digital Signature based ( self Signed Application/Esign aadhar based)
Choose Application type - New or Correction Choose Category of Applicant - Individual/ Company/Firm, Etc. STARTS Filing up details one by one and choose Income Tax Ward/Circle properly.
After completing the Application form next step to pay the fee online ( if DSC/Aadhar Esign) or by DD/Cheque for Physical submission with self signed
After Fee Payment online Acknowledgement Copy / Application form generates.This Copy need to be send with NSDL, Pune Office in case of self signed along with Supporting documents and Fee( if payable by DD/Cheque)
Visit Site of Website of wherein Application Filed
For Application made on NSDL click on https://tin.tin.nsdl.com/pantan/StatusTrack.html and Put Aknowledgement No and Submit
For Application made on UTIITSL click on http://www.trackpan.utiitsl.com/PANONLINE/#forward and Put Aknowledgement No and Submit
For Individual Applicant
For Indian Company / LLP Registered in India - Only Certificate of Incorporation
For Firm - Registration Certificate Issued by Registrar of Firm or Partnership Deed copy.
For Association of Person (AOP) or Body of Individual (BOI) or Artificial Juducial Person (AJP)
For Trust (AOP)
For Hindu Undivided Family
Documents same as in case of Individual Applicant . Only one more additional documents can be addred 'A copy of Affidavit by Karta of HUF stating name, father name, and address of all coparceners'
For Individual Applicant
ID Proof Documents :-
Address Proof Documents :-
For Companies / LLP/ Firm
As ID and Address Proof :-
Indian Individual, Company, LLP, Firm , Association, Trust, etc.
Indian Individual, Company, LLP, Firm , Association, Trust, etc.
Non-Resident, Foreign Company and all others not belongs to India
Our Expert give on call consultation to client first to make him clear about the process of registration with authority and Documents requirement.
Our Expert prepare your application and co-ordinate with you for all the Documents requirement.
As soon as your documents reach to us and your application is processed properly, our Expert then file your PAN application online with Aadhar based e-sign or using Digital Signature or Taken printout of the application and get it signed from you and send to Authority.
You get Acknowledgement Number to check the status online.
We Intimate you updated Status regularly
Received PAN card at your given correspondence address in approx 15 days.
