PAN stands for Permanent Account Number. PAN is a ten-digit unique alphanumeric number issued by the Income Tax Department. PAN is issued in the form of a laminated plastic card (commonly known as PAN card). Given below is an illustrative PAN is
ALWPG5809L

As per new regulatory norms, both resident & non-residents Indians; including international companies with or without any presence in India, are required to provide a copy of their PAN card while carrying financial or business transactions; like: opening bank accounts, filing taxes, buying or selling real estate, etc to name a few.

A PAN has been made compulsory for every transaction with the Income-tax Department. It is also mandatory for numerous other financial transactions such as opening of bank accounts, in bank account, deposit of cash in bank account, opening of Demat account, transaction of immovable properties, dealing in securities, etc. A PAN card is a valuable means of photo identification accepted by all Government and non-Government institutions in the country

<>p>Yes, NRIs can apply for PA without having to come to India or without having an address in India.

PAN is to be obtained by following persons:

1. Every person if his total income or the total income of any other person in respect of which he is assessable during the previous year exceeds the maximum amount which is not chargeable to tax.
2. Every person who is carrying on any business or profession whose total sale, turnover, or gross receipts are or is likely to exceed five lakh rupees in any previous year
3. Every person who intends to enter into specified financial transactions in which quoting of PAN

1. Vehicle Purchases: Sale or purchase of motor vehicles (excluding two-wheelers).
2. Bank Accounts: Opening bank accounts (except time deposits and Basic Savings Bank Deposit Accounts).
3. Demat Accounts: Opening demat accounts with depositories, participants, or custodians.
4. Mutual Fund Investments: Payments exceeding Rs. 50,000 for purchasing mutual fund units.
5. Debentures and Bonds: Payments exceeding Rs. 50,000 for acquiring debentures or bonds.
6. Cash Deposits: Cash deposits exceeding Rs. 50,000 in a single day with banks or co-operative banks.
7. Time Deposits: Time deposits exceeding Rs. 50,000 or aggregating to more than Rs. 5 lakh in a financial year with banks, post offices, Nidhis, or non-banking financial companies.
8. Life Insurance Premiums: Payments exceeding Rs. 50,000 in a financial year for life insurance premiums.
9. Securities Transactions: Contracts for sale or purchase of securities (excluding shares) exceeding Rs. 1 lakh per transaction.
10. Share Transactions: Sale or purchase of shares of unlisted companies exceeding Rs. 1 lakh per transaction.
11. Immovable Property Transactions: Sale or purchase of immovable property exceeding Rs. 10 lakh or valued by the stamp valuation authority at more than Rs. 10 lakh.

It is mandatory to quote PAN on the return of income. Apart from return of income, PAN is also to be quoted in all challans for making payment of tax, correspondence with the Income Tax Department, etc.

However, w.e.f., 01-09-2019, every person who has been allotted a PAN, and who has linked his Aadhaar number with PAN as per section 139AA, may furnish his Aadhaar number in lieu of a PAN for all the transactions where quoting of PAN is mandatory as per Income-tax Act. Thus, with effect from September 1, 2019, an assessee can file his return of income by
quoting his Aadhaar number instead of quoting PAN.

PAN Application Process

Application Forms

• Form 49A: For Indian Citizens
• Form 49AA: For Foreign Citizens

Application Methods

• Online:
• NSDL website: www.tin-nsdl.com
• UTIITSL website
• Offline: Through any NSDL TIN-Facilitation Centres/ PAN Centres

PAN Card Options

• Physical PAN Card: Printed and dispatched to communication address.
• E-PAN Card (PDF format): Sent to the applicant's email address if physical PAN Card is not required.

Aadhaar Requirement

**Note:** Effective from 01-07-2017, every person eligible for an Aadhaar number must quote either their Aadhaar number or the enrolment ID of the Aadhaar application form in the PAN application form.

Taxpayer is required to login on e-Filing portal using his registered username and password.

After login, he will get the “link Aadhaar” option under his ‘Profile Settings’.

Aadhaar number will be linked with PAN if name and date of birth of taxpayer is identical to
Aadhaar and PAN.

Taxpayer who wants to link their Aadhaar number with PAN is required to send SMS to 567678 or 56161 in following format: UIDPAN <12-digit Aadhaar><10 digit PAN>
Example of SMS to 567678 or 56161: UIDPAN 111122223333 AAAPA9999Q,

Aadhaar number will be linked with PAN if name and date of birth of taxpayer is identical to Aadhaar and PAN.

NO

Application for PAN cannot be made on plain paper. The application for PAN is to be made in the prescribed form i.e. Form No. 49A/Form No. 49AA as the case may be.

Form No. 49A is to be used by Indian Citizen/Indian Companies/Entities incorporated in India/Unincorporated entities formed in India

Form No. 49AA is to be used by individual not being a citizen
of India/Entities incorporated outside India/Unincorporated entities formed outside India)

IT PAN Service Centers or TIN Facilitation Centers shall not accept any incomplete and
deficient PAN application. However, these centers will assist applicants to correctly fill
up form 49A/49AA (as the case may be).

Yes, Form 49A/49AA (as the case may by) should be filled legibly in BLOCK LETTERS and preferably in black ink. It should also be noted that, each box, wherever provided, should
contain only one character (alphabet /number / punctuation sign) leaving a blank box after
each word.

The documents required to be submitted with the PAN application are specified in Rule 114 of the Income-tax Rules. The details of the documents required are also provided in the application form.

Individual Applicants

• Proof of Identity
• Proof of Address
• Proof of Date of Birth

The name of the applicant as mentioned in the application form and the name appearing in the documents submitted should match exactly.

Photographs

• Affix two recent color photographs with a white background (size 3.5 cm x 2.5 cm) in the space provided on the form.
• Do not staple or clip the photographs to the form.
• The clarity of the image on the PAN card will depend on the quality and clarity of the photographs affixed on the form.

Any of the following document will serve as proof of identity in case of individual applicants being Indian citizens (including those located outside India) :

Copy of following :

1. Aadhaar Card issued by the Unique Identification Authority of India
2. Elector's photo identity card
3. Driving License
4. Passport
5. Photo identity card issued by the Central Government or State Government or Public Sector
   Undertaking
6. Pensioner card having photograph of the applicant
7. Central Government Health Service Scheme Card or
8. Ex-Servicemen Contributory Health Scheme photo card

Copy of any of the following document will serve as proof of address in case of individual applicants being Indian citizens (including those located outside India):

• Aadhaar Card issued by the Unique Identification Authority of India
• Elector's photo identity card
• Driving License
• Passport
• Passport of the spouse
• Post office passbook having address of the applicant
• Latest property tax assessment order
• Domicile certificate issued by the Government
• Allotment letter of accommodation issued by Central or State Government of not more than three years old
• Property Registration Document
• Electricity Bill (not more than three months old)
• Landline Telephone or Broadband connection bill (not more than three months old)
• Water Bill (not more than three months old)
• Consumer gas connection card or book or piped gas bill (not more than three months old)
• Bank account statement or as per Note given below
• Depository account statement (not more than three months old)
• Credit card statement (not more than three months old)

Note: In case of an Indian citizen residing outside India, copy of Bank Account Statement in country of residence or copy of Non-resident External (NRE) bank account statements (not more than three months old) shall be the proof of address.

Alternatively, you can provide a certificate of identity in original signed by a Member of Parliament or Member of Legislative Assembly or Municipal Councillor or a Gazetted officer, or an employer certificate in original.

Copy of any of the following document will serve as proof of date of birth in case of individual applicants being Indian citizens (including those located outside India):

• Birth Certificate issued by the Municipal Authority or any office authorized to issue Birth and Death Certificate by the Registrar of Birth and Death or the Indian Consulate as defined in clause (d) of sub-section (1) of section 2 of the Citizenship Act, 1955 (57 of 1955)
• Pension payment order
• Marriage certificate issued by Registrar of Marriages
• Matriculation Certificate
• Passport
• Driving License
• Domicile Certificate issued by the Government
• Affidavit sworn before a magistrate stating the date of birth

While providing the full name, applicant should provide father's name and hence, married female should provide father's name and not husband's name.

Section 160 of Income-tax Act, 1961 provides that a non-resident, minor, lunatic, idiot, mentally retarded, deceased, wards of court and such other persons may be represented through a Representative Assessee.

In such cases:

• In the application for PAN, details of the non-resident, minor, lunatic, idiot, mentally retarded, deceased, wards of court, etc. should be provided.
• Details of the representative assessee have to be provided in item 14 of the application for PAN.
• Proof of Identity and Proof of address is also required for the representative assessee.

Obtaining a PAN (Permanent Account Number) does not automatically require you to file an income tax return. You are only obligated to file a return of income under section 139 of the Income-tax Act, 1961.

Yes, you should intimate your PAN to the deductor i.e. person deducting tax. From 1st April, 2010, non-furnishing of PAN to deductors results in TDS at much higher rate of 20% or even more.

If you've lost your PAN card or want a new one with the same details, you can apply for a duplicate PAN card.

How to Apply

1. Download and submit the form titled "Request for New PAN Card or/and Changes or Correction in PAN Data".
2. (Optional) If you have an FIR (First Information Report) for the lost PAN card, submit a copy along with the form.
3. Forgot your PAN number?
• Use the "Know Your PAN" facility provided by the Income Tax Department.
• Visit the Income Tax Department website: www.incometaxindiaefiling.gov.in
• Enter your core details like name, father's name, and date of birth to retrieve your PAN online.
4. Once you know your PAN:
• Submit the "Request for New PAN Card Or/And Changes Or Correction in PAN Data" form.
• Important: Fill out all form fields but leave the boxes on the left margin unticked.

PAN obtained once is valid for life-time of the PAN-holder. It is not affected by change of
address or change of Assessing Officer etc. However, any change in the PAN database (i.e.
details provided at the time of obtaining PAN) should be intimated to the Income Tax
Department by furnishing the details in the form for “Request For New PAN Card Or/ And
Changes or Correction in PAN Data”.

Section 272B provides for penalty in case of default by the taxpayer in complying with the
provisions relating to PAN, i.e., not obtaining PAN, even though he is liable to obtain PAN
or knowingly quoting incorrect PAN in any prescribed document in which PAN is to be quoted
or intimating incorrect PAN to the person deducing tax or person collecting tax. Penalty of
Rs. 10,000 undersection 272B can be levied for failure to comply with the provisions of
section 139A and penalty of Rs. 10000 per default shall be levied for failure to Quote or to
Quote invalid PAN

: A person cannot hold more than one PAN. If a PAN is allotted to a person, then he cannot
apply for obtaining another PAN. A penalty of Rs. 10,000/- is liable to be imposed under
Section 272B of the Income-tax Act, 1961 for having more than one PAN.
If a person has been allotted more than one PAN then he should immediately surrender
the additional PAN card(s).

It is advisable to retain only one PAN, preferably the one used for Income-tax purpose and
surrender the other number immediately. The institutions where the latter number has been
quoted should be informed of the correct PAN.

In case of PAN card is not received , contact NSDL.
The Income Tax Department or NSDL can be contacted in any of the following means.
MODE
Income TaxDepartment
NSDL
Website www.incometaxindia.gov.in
www.tin-nsdl.com


CallCenter
1800-180-1961
020-27218080


Email ID
efilingwebmanager@incometax.gov.in
tininfo@nsdl.co.in


SMS

SMS NSDLPAN
Acknowledgement No. & send to 57575 to obtain application status.





Address


Tin Call Center 4th Floor, Mantri Sterling, Plot No. 341, Survey No. 997/8, Model
Colony, Near Deep Bunglow Chowk, Pune - 411 016.