A permanent account number is a 10-digit alphanumeric number that the income tax department can present on a laminated card. It gives the department the power to link all the person’s transactions with the department. These transactions include tax payments, wealth, gifts, income, TDS/TCS credits, FBT returns, and many more. The Permanent Account Number stands as the person’s tax department identification number.
Why is it necessary to have a permanent account number?
On income returns and any communication with income tax authorities, the permanent account number will be used. As of January 1, 2005, the Permanent Account Nu. This must be mentioned due to the Income Tax Department. It must be mentioned in all documents related to the following financial activities.
- Purchase or sale of any property valued at Rs 5 lakh or more.
- Purchase or sale of motor vehicles.
- An amount deposited in any post office bank account above fifty thousand rupees.
- Opening a new bank account.
- A securities sale and buy agreement valued more than 1 lakh rupees.
- Make a cash deposit with a bank of at least Rs. 50,000 in a single day.
- Money paid in cash for travel to foreign countries is more than Rs. 25000 at any time.
Who must have a permanent account number?
- Every taxpayer or individual who must file an income return on behalf of someone else must get a Permanent Account Number.
- Someone who has a profession or business where their total turnover, sales, or gross receipts in a given year have been more than Rs. 5 lakhs.
- Someone planning to be involved in a financial transaction where providing a permanent account number is required must do so.
- Submitting a request to install a connection of the phone, including a mobile phone connection.
- Making payments of above Rs. 25000 to hotels and restaurants at any one time over their bills.
Can a person obtain or use more than one PAN?
It’s totally against the law to obtain or possess more than one PAN. For this, a penalty of Rs. 100,000 may be imposed on the person.
Where to apply for PAN?
To improve the services related to the PAN, the revenue tax department has made the UTI Investor Services Ltd. (UTIISL) manage the IT PAN Services Centers in all towns and cities. For the PAN applicant’s convenience in the big cities, the UTIISL has set up more than one service center for the IT PAN.
How do I apply for a PAN? Can an application for PAN be made on the paper?
On Form 49A, the PAN application was made. It can be downloaded from the Income Tax Department official portal, NSDL, or UTIISL. It can be printed by the local printers or from any other source. The form is also made at the IT PAN service centers and TIN facilitation centers.
Can an application for PAN be made in Form 49A obtained from anywhere?
The application of the theorem can be made on Form 49A and can be obtained from sources other than the TIN Facilitation Centers or IT PAN Service Centers. The application of theforAN can be downloaded from the Income Tax Department or UTIISL or NSDL official portal and can be printed from the local printers.
Can an application for PAN be made through the Internet?
Yes, by the internet, the applications for the PAN are allotted. The request for the correction or changes under the PAN data or the request for the PAN card also be made through the portal of NSDL. The online application charges are the same for the PAN, which is Rs. 94 for the Indian communication address, and for the foreign communication address, the charger is Rs. 744, and there are no additional charges. By credit card or debit card, the payment of the application fee can be made. Once the payment is accepted, the person has to send the required documents by courier or post to the NSDL.
How do I find an IT PAN Service Center or TIN Facilitation Center?
From the local income tax office or any of the offices of the NSDL, the location of the IT PAN services center in any of the cities can be obtained from the website of the income tax department, UTITSL, or NSDL.
What services are given by these IT PAN Service Centers or TIN Facilitation Centers?
Pan application forms are obtained from the IT PAN service centers or PIN facilitation centers. The request for the new PAN card is to find out the applicants in filling up the form, collect the forms, and issue the slip of acknowledgment getting the PAN from the Department of income tax, or NSDL. The PAN card will be printed or delivered to the applicant.
What if I deposit the incomplete Form 49A?
The incomplete PAN application or deficient PAN applications are not received by the IT PAN service center or PIN facilitation center. The center assists the person to fill out the application form correctly or request a new PAN card if required.
What documents and details have to be deposited along with the application for Form 49A?
- The candidate has to fix one recent colored photograph on Form 49 A.
- The document has to be submitted as proof of identity if listed under Rule 114.
- The code and post of the concerned assessing officer of the income tax department have to be given under the fo9a.
What documents will serve as proof of identity in the case of individual applicants, including minors and HUF applicants?
- The photocopy of the school leaving certificate Matrix certificate credit card bank account ration card water bill water density card driving license or the certificate of identity signed by the MLA or municipal council.
- If the PAN applicant is a minor, then the minor has to submit the documents of their guardian, which are mentioned in the above line.
- If the PAN application is made on behalf of the HIF, then the document of the Karta will be served as the prof identity.
What documents will serve as the identity proof and address for the other applicants?
- Copy of Certificate of Registration issued by the Registrar of Companies
- Copy of Certificate of Registration issued by the Registrar of Firms or Copy of Partnership Deed.
- Copy of Certificate of Registration Number issued by Charity Commissioner
- Copy of Agreement or Copy of Certificate of Registration Number issued by Charity Commissioner.
- Copy of trust deed
How do I find the Assession Officer Code?
From the income tax office where you deposit your income returns, you can get your assessing officer code from there. Applicants who never filed a return of income can find the assessing officer code at the IT PAN service center or jurisdictional income tax office.
What is the procedure for applicants who can’t sign?
If the person cannot sign, then the applicant’s left-hand impression must be affixed to the form at the place or column of the signature and attested by the Notary Public or a Gazetted Officer under the official stamp and seal.
How will the new PAN card be delivered to me?
The new PAN card will be delivered to the address given by you under the application form. The NSDL or UTIISL will deliver the new PAN card to the given address.
Will the existing PAN card issued by the department remain valid?
The PAN card allotted by the department will remain valid every time. The person who once gets the PAN does not need to apply for the PAN again.
I applied for the PAN and got a PAN number but did not get the PAN card.
Apply for the Request for a New PAN Card or/and changes in PAN Data at the service center of the IT PAN or the TIN Facilitation Center, quoting the PAN given to you.
Are there any charges to be paid at IT PAN Service Centers or TIN Facilitation Centers?
To collect Rs. 85 + service tax, the UTIISL and NSDL are authorized for the per PAN applications, and it includes the amount of the tamper-proof PAN card. The applicants have to pay this amount intine cash at the IT PAN service center or the TIN Facilitation Center.
Who can apply on behalf of the non-resident, minor, idiot, and court of wards?
As per Section 160 of the IT Act, the nonresident, idiot minor, or any person has to be represented by a representative assessee. Under these cases, the representative assessee made the application for the PAN.
Is a father’s name compulsory for female applicants?
To fill out the PAN application, only the father’s name is essential to be filled. The female applicant, irrespective of marital status, has to write down only the name of his father under the PAN application.
I want to pay taxes today, but I do not have a PAN.
The new PAN card will be allotted for 15 days; however, in some cases, the PAN can be obtained for five days if one can make the application on the Internet and submit the processing fee by credit card. To obtain the PAN, it is suggested to take initiated action at the time.
Do you need to apply for a PAN when you move or transfer from one city to another?
PAN stands for permanent account number, which does not change during the lifetime of the PAN holder. The assessing officer may change the address or city. Under the PAN, for such changes, one has to go to the nearest IT PAN service center or TIN facilitation center for the correction under the basis of the income tax department. One has to make this request in the form for a request for a new PAN card.
I applied to UTITSL/NSDL a month ago, but I did not get my PAN card, and I have to file my return of the income.
Kindly contact Aaykar Sampark Kendra (0124-2438000 or 95124-2438000 from NCR) or send an email.
The Income Tax Department issued a PAN card to me. Can I get a new tamper-proof PAN card?
The application has to be made into the form for the Request for New PAN Card or/and changes in PAN Data to get the tamper-proof PAN card to the IT PAN service center, under which the existing PAN shows, and surrender the old PAN Card. The payment has to be of Rs. 60 as the service tax.