PAN card: All you need to know

HIGHLIGHTS points

The 10-letter alphanumeric code issued by the PAN Income Tax Department is used to identify the taxpayer, even if a person, a Hindu undivided family or a company has been applying for PAN allocation in Form 49A / 49AA

PAN (Permanent Account Number) is a 10-character alphanumeric code issued by the Income Tax Department to identify the taxpayer, whether a person, a Hindu undivided family (HUF), a company, firm or an organization of individuals. PAN card is issued under the provisions of section 13 9A of the Income Tax Act, 1961.

Do you need to apply for PAN?

Yes, if any of these is true for you.

If your total income crosses the non-taxable limit then the application for PAN allocation is made in Form 49A / 49AA. But if you need to enter an ITR according to the ICT Act, you need to apply for PAN despite income.

Even though your total taxable income is below the limit, but you take a business or profession where the total sales, business or gross receipts have crossed or there is a possibility of crossing 50 lakh rupees in any year.

If you get a refund from the IT department, then you need a pond for it.

What documents do you need to apply for a PAN card?

For Individuals & HUFs

Identity proof

address proof

Proof of birth date

The documents that can be accepted as above mentioned in the contract are mentioned in the contract.

For companies / firms

Copy of the registration certificate issued by the Registrar of Companies Registrar / Firms. In the case of firms, partnership work can also be attached.

पैन कार्ड के लिए आवेदन करने के लिए, आप फॉर्म 49 ए में आवश्यक विवरण प्रस्तुत करते हैं यदि आप भारत में व्यक्ति, एचयूएफ, कंपनी, फर्म या व्यक्ति के सहयोगी हैं। भारत के बाहर किसी भी इकाई के लिए, आवेदक फॉर्म 49 एए में विवरण जमा करेगा।

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