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Pan Card - Details - Explanation
Pan Card - Details - Explanation
PAN - Permanent Account Number from the Indian Income Tax Department can now be applied at a click of a button.
All you have to do is to submit the following particulars, pay PAN Card charges of Rs.1200/- (or US $30.00) and our
PAN procurement team would assist you in getting your PAN allotted in 6 working days. There is no charge for delivery
of PAN cards within India. For delivery of PAN cards outside India an extra $20 shipping fees is payable. So the total
cost for PAN cards delivered outside India is $50.
Father's full name (in case of individuals). Married women should also give their father's full name with expanded initials.
Mailing address
Q. What is the purpose of having a Permanent Account Number (PAN) under new series?
Having a PAN helps you in dealing with the Income Tax Department as well as with other Govt. Organisations.
It is an all India, UNIQUE Number of 10 CHARACTERS allotted by the Income Tax Department.
It is PERMANENT for your life and will not change with change of your address or station or change of your Assessing
Officer, etc.
PAN under the new series is being issued to replace old PAN or GIR No.
AAB P S 8791 R
Individuals
Companies
Partnership Firms
Association of Persons
Body of individuals
Trusts
Representative Assesses
a person carrying on business or profession whose total sales or turnover or gross receipt exceeds Rs. 5 lacs (Rs.
500,000), or
a trust
You may file an application in Form No. 49A, which is available at all Income-tax offices or click here to download the
form.
While making an application in Form 49A you must fill in your
Married woman should give their father's full name with expanded initials
In case of non-Indian passport holder, the applicant shall have to get his/her ID and address proofs attested by the
Indian embassy in the home country.
Q. Where to apply ?
To the Assessing Officer dealing with new taxpayers, if you were not assessed to tax earlier;
In case of Individuals
PAN
Name
Date of Birth
Father's Name
Photograph and
PAN
Name and
Q. Can a person hold more than one PAN under new series?
NO. A person can have only one PAN under the new series. If you have already been allotted a PAN under the new
series, you cannot or shall not again apply for or obtain or possess another PAN. Failure in this regard shall result in
imposition of penalty which shall not be less than Rs. 500/- but which may extend to Rs. 10000/- for each such failure or
default.
Every person to whom a PAN is allotted is required to quote the same in:
all his returns to, and/or correspondence with, any Income Tax Authority;
documents pertaining to sale or purchase of immovable property valued at Rs. 5 lacs (Rs. 500,000) or more;
documents pertaining to deposits exceeding Rs. 50,000 in any account with a Post Office Savings Bank;
documents pertaining to a contract of a value exceeding Rs. 10 lacs (Rs. 1 million) for sale or purchase of securities
(shares, debentures etc.)
payment to hotels & restaurants against their bills for an amount exceeding Rs. 25,000/- at any one time; Every person
receiving any document relating to above
If tax is being deducted at source on payment of salary, rent, interest etc., it will be in your interest to give your PAN
under the new series to the tax deductor so that the same could be mentioned in the TDS Certificate and Annual Return
of TDS. This will help you in getting credit for taxes deducted at source.
Q. Do you need to apply for a PAN when you move from one city or state to another?
You need not apply for a fresh PAN under the new series. You must, however, intimate your Assessing Officer for
transfer of your PAN and other records to your new Assessing Officer.
The PAN follows the following structure – XXXXX1111X. The first five characters are letters; the next 4 are numerals, and the last
character is again a letter. A Permanent Account Number that doesn’t follow this pattern is deemed as invalid. Moreover, the fourth
character of the PAN is one of the following, depending on the type of assessee who is allotted the number.
C - Company
P - Person
F - Firm
T - AOP (Trust)
L - Local Authority
G - Government
In addition, the fifth character of the PAN is the first character in the surname of the assessee. Though PAN is generally issued to
individuals to keep track of the tax payment, it can however also be issued to non-taxpayers in India.
Permanent Account Number (PAN) is a ten-digit alphanumeric identifier, issued by Income Tax Department.A Unique pan has been
issued to each assessee (e.g. individual, firm, company etc.)This number is almost mandatory for financial transactions such as
opening a bank account, receiving taxable salary or professional fees, sale or purchase of assets above specified limits. his number
can be considered to be similar to Social security number issued in United States to citizens and other legal residents.
10 field is alpha(A-Z)
The fourth character of the PAN must be one of the following, depending on the type of assessee:
C — Company
P — Person
F — Firm
T — AOP (Trust)
L — Local Authority
G — Govt