Apply for a Permanent Account Number (PAN)

Apply for a Permanent Account Number (PAN)

Permanent Account Number (PAN) refers to a ten-digit alphanumeric number, issued in the form of a laminated card, by the Income Tax Department in India. It is a must to have a PANnumber for all those who file their income tax returns, because from 2005 onwards, it has been made mandatory by the Income Tax Department to quote the PAN on return of income aswell as on all correspondence with any income tax authority in the country.

Also, it is now compulsory to quote PAN in all documents pertaining to financial transactions notified from time to time by the Central Board of Direct Taxes, such as sale and purchase of immovable property or motor vehicle or payments in cash, of amounts exceeding a certain limit to hotels and restaurants, or in connection with travel to any foreign country. It is also mandatory to mention PAN for obtaining a telephone or cellulartelephone connection. Likewise, PAN has to be mentioned for making a time deposit exceedingRs. 50,000/- with a Bank or Post Office or for depositing cash of Rs. 50,000/- or more in aBank.

How to apply for a PAN ?

The Income Tax Department(External website that opens in a new window) has ensured that applying for a PAN is a simple and convenient procedure. All you need to do is submit the requisiteApplication Form No. 49A (273 KB)(PDF file that opens in a new window) . The PAN application can also be downloaded from the website of UTI Investor Services Ltd (the authorised agency to manage IT PAN service Centres in various cities) or from the website ofNational Securities Depository Ltd (NSDL)(External website that opens in a new window) or printed by local printers or photocopied (on A4 size 70 GSM paper) or obtained from any other source. The form is also available at IT PAN Service Centres and TIN Facilitation Centres.

You will need a recent colour photograph (stamp size: 3.5 cm x 2.5 cm) to attach on theform. You must mention the designation and code of the concerned Assessing Officer of theIncome Tax department in Form 49A. You can get this from the IT PAN Service Centresmentioned in the websites listed above. Also, the application shall have to be accompanied by a proof of identity as well as a proof of residence.

The filled application form has to be submitted at your nearest IT PAN Service Centre orTIN Facilitation Centre along with the requisite fee. The location of such centres can besearched online by using the facility given below :

Applications for fresh allotment of PAN can also be submitted through the Net

Further, requests for changes or correction in PAN data or a request for a newPAN card (for an existing PAN) may also be made through the Internet. For more details visithttp://www.tin-nsdl.com(External website that opens in anew window). If an application for allotment of PAN is submitted through theInternet and payment made through a 'nominated' credit card, the PAN is allotted on priority and communicated through email.

For more information, visit the FAQ section on Permanent Account Number(External website that opens in a new window) on the Income Tax Department website.

0 comments: