What is PAN?
Permanent Account Number (PAN) is a ten-digit alphanumeric Amount, issued in the Kind of a laminated card, by the Income Tax Department.
What is the purpose of having a Permanent Account Number (PAN)?
It’s mandatory to quote PAN on return of income, all correspondence together with any income tax authority and challans for any payments because of Income Tax Department. It is also compulsory to quote PAN in all documents pertaining to financial or economic transactions informed from time-to-time from the Central Board of Direct Taxes.
Certain Transaction where furnishing of are Compulsory
- Bank deposits exceeding Rs.50000.
- Payment of hotels/restaurants bills exceeding Rs.25000 at any time.
- Sale or Purchase of any property or motor vehicle in India.
Documents required for Obtaining PAN for Individua
Proof Of Address
Copy of electricity bill or telephone bill or depository accounts or credit card or bank accounts or charge card or employer certificate or passport or voter identity card or land tax assessment order or driving permit or rent receipt or certificate of address signed by a MP/MLA Municipal Councillor a Gazetted Officer.
Documents necessary for Obtaining PAN for Others i.e Business, Partnership Business, Trust, Society, Foreign Company and others.
Documents required for Obtaining PAN for Others applicants i.e Company, Partnership Firm, Trust, Society, Foreign Company and others.
Duplicate of Certification of Registration issued from the Registrar of Companies or Copy of Certificate of Registration issued by the Registrar of Firms or Duplicate of Partnership Deed or Copy of Trust deed or Copy of Certificate of Registration Number issued by Charity Commissioner or Copy of Agreement or Copy of Certificate of Registration Number issued by Charity Commissioner or Registrar of Co-operative Society or any other Competent Authority or Some other document originating from any Central or State Government Department establishing Address and Identity of such Individual