PAN stands for Permanent Account Number, a ten-digit alphanumeric number assigned by the Department of Income Taxes. Having a PAN when conducting financial transactions such as receiving salaries, honoraria, and selling or buying past assets is a Specified imperative. It is highly recommended that you have a PAN even if your income is not within the tax brackets. Businesses must also have a PAN card when reporting their sales or gross income exceeding five lakhs in the previous financial year. If you want to apply for a PAN Card Online, You can visit Sarkari Suvidha's website.
Why should you have a PAN Card?
You would want a PAN card to file IT returns, which is often the first reason people Apply For PAN Card.
A PAN card allows the government to track all financial transactions, which can be crucial in assessing an individual's or a company's tax liability and helps reduce the likelihood of tax evasion. The bread card bears your name, date of birth, and a photo, and it also serves as a nationally recognized proof of Identity for its holder. The PAN card is valid when you want to buy a car, buy or sell real estate, buy stocks or bonds over 1 lakh, open a new bank account or Demat, apply for a credit card, and various other types of transactions.
PAN cards are issued to people who earn and pay taxes to the state. It's a kind of ID for the taxpayer. An online PAN card is an electronic system recording all tax-related information. A trial was conducted against the PAN number. The PAN number is the primary source from which information about the tax is collected and disseminated nationwide. A person's PAN number is unique and cannot be similar to another person's.
PAN Card Eligibility Requirements
According to Article 139A of the Income Tax Act, the below taxable persons must have a permanent account number: Every person who is a taxpayer or responsible for paying taxes must have a bread card. Any person carries on a business or professional practice with an annual turnover above INR 5,000 during the financial year. Persons involved in exporting or importing are subject to charges or taxes under the Income Tax Act 1961. All kinds of charities, associations, and trusts. So go and fill out the Online PAN Card Application with Sarkari Suvidha.
What are the Different Types of PAN Card?
Both individuals and entities are assigned a pan card application form; various types of PANs must be applied for using the government-issued Form 49 variants. The different types of PAN Card and the forms to be used to apply for them are described below:
- HUF-Hindu undivided family
Documents for PAN
1. Individual Applicants
Identity Proof: Aadhaar/ Driving License/Passport
Address Proof: Utility bills/water bill/credit card statement/domicile certificate/bank account statement/marriage certificate
2. Hindu Undivided Family (HUF)
Affidavit issued by the 'Karta' of a HUF. Such an affidavit should mention each family member's name, address, and father's name.
Date of birth proof
3. Company Registered in India
Registration certificate issued by Registrar of Companies
4. Liability Partnerships or Firms Registered in India
Copy of registration certificate.
Copy of partnership deed.
5. Trusts Registered in India
Copy of registration certificate as issued by a Charity Commissioner.
6. Association of Persons (AOP)
Copy of registration certificate or agreement copy, or
Any identity documents as issued by the Central or State government
7. Non-Citizen Applicants
Identity proof: Copy of PIO/Copy of OCI/Copy of passport.
Address proof: Bank statement of residential country/VISA/Registration certificate
Guidelines for PAN Card Application: Do's and Don'ts
Below are the guidelines to follow while filling out the PAN Card Form.
- Write all the details exactly as they were on the submitted identification and address documents.
- The form may only be filled out in capital letters.
- Make sure you do not make any corrections or overwrites on the application form.
- Do not write names with salutations such as Mr./Ms./Miss./Dr.
- Do not use initials in the form's name column.
- Complete the form in English along with the local language used for registration. The thumbprint must be certified by a notary.
- Otherwise, the application will be excluded.
- Do not apply for a new card if the card is lost or defaced.
- Request a duplicate card instead. Make sure the form is up to date with the current details.
- Please provide the correct and complete address to which the PAN should be shipped.
How To Apply?
This is an Offline process for how to apply pan card online.
- Use 'Form 49A' or 'Form 49AA' as applicable to you. Find more details at incometaxindia.gov.in.
- You can find the location of PAN card offices in any city from the websites of the Income Tax Department or National Securities Depository Limited (NSDL).
- You will need copies of proof of Identity and address.
- You can also apply online through the websites of Sarkari Suvidha.
- Fill out the application form and attach the required documents.
- Track the status of your application online.