Having a PAN helps you in dealing with the Income Tax Department as well as with other Govt. Organisations.
- It is an all India, UNIQUE Number of 10 CHARACTERS allotted by the Income Tax Department.
- It is PERMANENT for your life and will not change with change of your address or station or change of your Assessing Officer, etc.
- PAN under the new series is being issued to replace old PAN or GIR No.
In case of Individuals
- Date of Birth
- Father's Name
- Photograph and signature of PAN holder
In case of Other Taxpayers
- Date of Incorporation or Formation
The PAN number is issued in the format like:
AAB P S 8791 R
and a PAN card looks like the following:
- Hindu Undivided Families
- Partnership Firms
- Association of Persons
- Body of individuals
- Artificial Juridical Persons
- Representative Assesses
- an Income Tax Payer, or
- a person carrying on business or profession whose total sales or turnover or gross receipt exceeds Rs. 5 lacs (Rs. 500,000), or
- a trust
- any other person
- You may file an application in Form No. 49A, which is available at all Income-tax offices.
- While making an application in Form 49A you must fill in your
- Full name (Initials must be expanded)
- Date of Birth (in case of individuals)
- Date of incorporation or formation, etc. (in case of companies or firms etc.)
- Father's full name (in case of individuals)
- Married woman should give their father's full name with expanded initials
- In case of non-Indian passport holder, the applicant shall have to get his/her ID and address proofs attested by the Indian embassy in the home country.
- To your Assessing Officer, if already assessed to tax;
- To the Assessing Officer dealing with new taxpayers, if you were not assessed to tax earlier;
- Or Can simply submit the duly filled form at our office
No, A person can have only one PAN under the new series. If you have already been allotted a PAN under the new series, you cannot or shall not again apply for or obtain or possess another PAN. Failure in this regard shall result in imposition of penalty which shall not be less than Rs. 500/- but which may extend to Rs. 10000/- for each such failure or default.
Every person to whom a PAN is allotted is required to quote the same in:
- all his returns to, and/or correspondence with, any Income Tax Authority;
- all challans for payment of direct taxes;
- application for opening an account with a Bank
- application for installation of a telephone connection (including a cellular telephone)
- documents pertaining to sale or purchase of a motor vehicle;
- documents pertaining to sale or purchase of immovable property valued at Rs. 5 lacs (Rs. 500,000) or more;
- documents pertaining to a time deposit exceeding Rs. 50,000/- with a Bank;
- documents pertaining to deposits exceeding Rs. 50,000 in any account with a Post Office Savings Bank;
- documents pertaining to a contract of a value exceeding Rs. 10 lacs (Rs. 1 million) for sale or purchase of securities (shares, debentures etc.)
- payment to hotels & restaurants against their bills for an amount exceeding Rs. 25,000/- at any one time; Every person receiving any document relating to above
- If tax is being deducted at source on payment of salary, rent, interest etc., it will be in your interest to give your PAN under the new series to the tax deductor so that the same could be mentioned in the TDS Certificate and Annual Return of TDS. This will help you in getting credit for taxes deducted at source.
You need not apply for a fresh PAN under the new series. You must, however, intimate your Assessing Officer for transfer of your PAN and other records to your new Assessing Officer.