A typical PAN is AABPS1205E.
A Permanent Account Number (PAN) is a unique alphanumeric identification number consisting of ten characters. It is issued by the Income Tax Department and is typically presented in the format, such as AABPS1205E.
It is a requirement to include your Permanent Account Number (PAN) when filing your income tax return and in all communications with income tax authorities. Additionally, starting from January 1, 2005, PAN must be mentioned on challans for any payments owed to the Income Tax Department.
PAN is required in all documents related to financial transactions as notified by the Central Board of Direct Taxes. This includes transactions such as buying or selling immovable property or a motor vehicle, cash payments exceeding Rs. 25,000 to hotels and restaurants, and transactions related to foreign travel. PAN is also mandatory for obtaining a telephone or cellular connection, as well as for making a time deposit exceeding Rs. 50,000 with a bank or post office or depositing cash of Rs. 50,000 or more in a bank.
It is a legal obligation for an individual receiving a document related to economic or financial transactions as notified by the Central Board of Direct Taxes (CBDT) to verify that the PAN has been correctly provided in the document.
Yes, it is mandatory to provide your PAN (Permanent Account Number) when filing your income tax return.
You can verify a PAN (Permanent Account Number) on the official website of the Income Tax department.
The Income Tax department provides a facility on its website to verify PAN (Permanent Account Number).
It’s mandatory for the following individuals/entities to obtain PAN:
1. All existing assesses or taxpayers.
2. Persons required to furnish a return of income, even on behalf of others.
3. Any person intending to enter into financial transactions where quoting PAN is mandatory.
The Assessing Officer may also allot PAN to any person either on their own or upon specific request from that person.
Obtaining or possessing more than one PAN (Permanent Account Number) is indeed against the law in India.
To enhance PAN-related services, the Income Tax department has granted authorization to Unity Trust of India-Infrastructure Technology and Services Limited (UTIISL) to establish and oversee IT PAN Service Centers in all cities or towns with an Income Tax office. Additionally, the National Securities Depository Limited (NSDL) has been authorized to provide PAN services through TIN Facilitation Centers. To ensure accessibility for PAN applicants in major cities, UTIISL has established multiple IT PAN Service Centers, and similarly, there are multiple TIN Facilitation Centers available.
The PAN application must be submitted using Form 49A. You can obtain a PAN application form (Form 49A) by downloading it from the Income Tax department’s website, UTIISL, or NSDL (www.incometaxindia.gov.in, www.utiisl.co.in, or tin.nsdl.com). Alternatively, you can obtain the form by printing it through local printers or photocopying it on A4 size 70 GSM paper. It is also available at IT PAN Service centers and TIN Facilitation centers for your convenience.
Certainly, you can submit a PAN application using Form 49A obtained from any source other than IT PAN Service Centers or TIN Facilitation Centers. This includes using a form downloaded from the websites of the Income Tax department, UTIISL, or NSDL, as well as forms printed by local printers or photocopies of downloaded or printed forms.
Yes, you can apply for a new PAN card or request changes or corrections in PAN data through the internet. Additionally, you can also apply for fresh PAN allotment online. For more information, please visit the website www.tin-nsdl.com.
IT PAN Service Centers or TIN Facilitation Centers are not authorized to accept incomplete or deficient PAN applications. Nevertheless, these centers are available to help applicants correctly fill out Form 49A or ‘Request For New PAN Card Or/ And Changes In PAN Data,’ depending on the situation.
• Individual applicants should attach a recent colored photograph (Stamp Size: 3.5 cm x 2.5 cm) to Form 49A.
• A proof of ‘Identity’ and ‘Address’ from the list specified in Rule 114 must be provided.
• Form 49A must include the designation and code of the relevant Assessing Officer of the Income Tax department.
A copy of any of the following documents can be provided as proof of ‘Identity’ and ‘Address’:
• School leaving certificate or matriculation certificate from a recognized educational institution.
• Degree certificate from a recognized educational institution.
• Copy of a depository account statement, credit card statement, or bank account statement.
• Water bill, ration card, or property tax assessment order.
• Passport.
• Voter identity card.
• Driving license.
• Certificate of identity signed by a Member of Parliament (MP), Member of Legislative Assembly (MLA), Municipal Councilor, or a Gazetted Officer.
If the PAN applicant is a minor, any of the documents mentioned above belonging to either of the parents or the legal guardian of the minor will be accepted as proof of identity.
If a PAN application is submitted on behalf of a Hindu Undivided Family (HUF), any of the documents mentioned above related to the Karta (head) of the HUF will be considered as proof of identity.
A copy of an electricity bill, telephone bill, depository account statement, credit card statement, bank account statement, ration card, employer certificate, passport, voter identity card, property tax assessment order, driving license, rent receipt, or a certificate of address signed by an MP/MLA/Municipal Councilor/Gazetted Officer can be provided as proof of address.
If the PAN applicant is a minor, any of the aforementioned documents belonging to the parents or guardian of the minor can be used as proof of address.
If a PAN application is submitted on behalf of a Hindu Undivided Family (HUF), any of the aforementioned documents related to the Karta of the HUF will serve as proof of address.
A copy of the Certificate of Registration issued by the Registrar of Companies, Certificate of Registration issued by the Registrar of Firms, Partnership Deed, Trust Deed, Certificate of Registration Number issued by the Charity Commissioner, Agreement, Certificate of Registration Number issued by the Charity Commissioner, Registrar of Cooperative Society, or any other document issued by a competent authority, Central or State Government Department, that establishes the identity and address of the person.
A photograph is mandatory for ‘Individual’ applicants only.
In the PAN application (Form 49A), only the father’s name is required to be filled. Female applicants, regardless of their marital status, should only provide their father’s name in the PAN application.
Providing a telephone number is not mandatory, but including one may facilitate quicker communication.
Section 160 of the Income Tax Act, 1961, stipulates that a non-resident, a minor, a person with unsound mind, a person under the court of wards, and other individuals falling under similar categories may be represented by a Representative Assessee. In such instances, the application for PAN shall be submitted by the Representative Assessee.
The Permanent Account Number (PAN), as its name implies, remains constant throughout the PAN holder’s lifetime and does not undergo any changes. However, if there is a change in address or city, it may result in a change in the Assessing Officer. In such cases, it is essential to inform the nearest IT PAN Service Center or TIN Facilitation Center to make the necessary corrections in the PAN databases of the Income Tax department. These requests should be submitted using the “Request For New PAN Card Or/ And Changes In PAN Data” form.
All PANs that have been assigned and PAN cards issued by the Department will remain valid. Individuals who have already been allocated a PAN do not need to reapply.
Getting a new PAN allotted typically takes about 15 days. However, if you apply through the Internet and pay the processing fee with a credit card, you can obtain a PAN in approximately 5 days. It’s recommended to start the process of obtaining a PAN well in advance.
