What is a Permanent Account Number (PAN) Card?
PAN Application
A PAN card is a unique identification mark allotted by the IT department to all taxpayers in India. A PAN card displays the PAN number, a ten-digit alphanumeric code that helps the authorities keep a record of the financial activities of an individual across all platforms. In India, PAN is an important identity proof. An individual must have to be obtain PAN before engaging in certain transactions like a financial transaction exceeding a specified (may changed in time to time) amount, must have to quote pan card in the transaction slip is necessary, even though PAN card application is voluntary. Every business entities other than Proprietorship Firms must have to apply for PAN Card within 30 days of its formation or incorporation. PAN card of the proprietor is enough to run a Proprietorship Business.
Apply for PAN Card Online
Uses of Permanent Account Number (PAN)
Compulsory for Opening Bank Accounts
PAN Card is necessary to submit KYC documents, which is most essential part of any bank account irrespective of a personal savings bank account to business current account. Even though Basic Savings Bank Deposit Accounts (BSBDA), which includes zero balance savings accounts like Jan Dhan doesn’t require a PAN Card.
Necessary for Income Tax Return (ITR) Filing
PAN is a must to file ITR of an Individual or Business, as all the information filed is associated to Permanent Account Number for faster assessment and processing.
Nationalized Identity Card
Permanent Account Number (PAN) Card is accepted all over the country as a valid Identity proof for every individuals and businesses. From opening a bank account to Government Registration, PAN card of individual or business is a primary requirement.
Mandatory for TDS and TCS Transactions
For Every person Tax Deducted at Source or Tax Collected at Source must mention their PAN and also of the deducted person, to avail him the benefit of tax credit.
Documents Requirement for PAN Application
Address Proof
Copy of Aadhaar/ Passport/ Driving License/ Voters Id or any other valid ID cards
Photograph
Latest Passport Size Photograph
Birth Certificate
In case of minor individual
ID Proof of Parent
Any id proof of parent (in case of minor applicant)
Certificate of Incorporation
In case of Company/LLP
Agreement
In case of LLP/Partnership
Entity Stamp
Entity stamp in case of Partnership, LLP, Company
Structure of PAN
For unique identification, a specified structure of 10 digit code is provided
- First three characters: Alphabetical series from AAA to ZZZ
- Fourth Character: Informs about status of assessee
- Fifth Character: Fifth character of assessee’s last name
- Sixth to Ninth Characters: Sequential numbers from 0001 to 9999
- Tenth Character: Numeric check digit generated automatically
Apply for PAN in 3 Easy Steps
Step 01
Register & Pay
Select any package suits your requirement · Fill up the form which will take less than 10 minutes · Provide details & upload documents required for PAN Application · Make payment through secure payment gateway. Step 02
We Will Help
Your queries will be answered quickly and effectively · Review of Application and information provided · Preparation and Submission of Application Step 03
PAN Allotted
Your PAN Application is filed and you will get your soft copy of PAN in 3days. Physical Copy of PAN will be delivered to your given Address All this takes 3 – 5 Working Days*.*Subjected to Government Processing Time.
The Process of PAN Application
- 1
Day 1
Collection of Information · Collection of required documents (Scanned copies)
- 2
Day 2 - 3
Review of documents and information provided · Preparation and filing of PAN Application
- 3
Day 4 - 5
Your PAN Number Generated · *Subjected to Government Processing Time
Frequently Asked Questions
Any Indian citizen, including a minor and business entities like partnership firms, LLP, Companies can apply for allotment of Permanent Account Number by furnishing valid proof and documents. Foreign individual or entity can also apply for PAN allotment.
Yes, all the business entities other than Proprietorship firms should have to apply for a Pan card online or offline within 30 days of establishment in India. A sole proprietorship firm does not needed to have a separate PAN as the same having any separate identity than of the proprietor.
An allotted PAN (Permanent Account Number) comes with life time validity for either individuals or business entities, but in the case of any dissolved or closed companies must surrender the allotted PAN to the Income Tax Department.
In normal cases, it won’t take more than 5 to 7 working days from the date of filing PAN application to allot a PAN, the registered user will get a soft copy of the PAN card by the time and the receipt of physical PAN Card may take a few more days.
No. An individual is only allowed to hold one PAN card and if anybody holds more than one pan card may attract a penalty of Rs. 1000/- under section 272B.
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