PAN is a unique identity number having ten alpha-numeric digits for e.g. AGKPH1234N in which 4th digit denotes the status of PAN holder. It is issued to any ‘person’ who applies for it by the Income Tax Department. A person must have only one PAN otherwise the penalty of Rs. 10,000/- shall be levied.
Through PAN different types of transactions can be linked with the Income Tax Department for e.g. transactions related to payment of taxes, assessments, demand arrears, various types of returns like income tax, wealth, gift etc., correspondence and so on. PAN also enables the Department to match information related to loans and investments with income tax database of such PAN holder to reduce evasion of taxes.
It is necessary to quote PAN in various types of documents related to opening a bank account, sale or purchase of property or any motor vehicle, any contract, any deposits or any other specified transactions.
Where to Apply PAN:
Income Tax Department has authorized two authorities for providing PAN related services through various number of TIN facilitation centres in a city viz.
- UTI Infrastructure Technology and Services Ltd. (UTIITSL) and
- National Securities Depository Limited (NSDL)
How to Apply PAN:
A fresh application for PAN no. should be made in Form 49A. It can be downloaded from website of income tax department (www.incometaxindia.gov.in), UTIITSL (www.utiitsl.com), NSDL (www.tin-nsdl.com) or can be photocopied from downloaded form. Further changes or correction can be made through PAN correction form, it is also available on above websites. In case of individual, two latest coloured passport size photos to be affixed on application form one of which is cross signed.
Now online application can also be made through the portal of UTIITSL or NSDL. In such case, after the application and payment is made, the applicant is required to send supporting documents by post/ courier to UTIITSL or NSDL.
Fees for manual and online PAN application are same i.e. Rs 106 (including Service Tax) for Indian communication address and Rs. 985 for foreign communication address. Payment can be made by different modes cash, credit/debit cards, net banking etc.
Following supporting documents are to be submitted along with the application form:
For Individual/ Minor/ HUF
- Proof of identity like Aadhaar Card, Voter ID card, Driving license, Passport etc.
- Proof of address like Aadhaar card, Passport, Electricity or telephone bill etc.
- Proof of Date of birth like 10th certificate or Mark sheet, Affidavit notarized by court having photograph on it etc.
In case of Minor, any above documents of the parents or guardian of the minor and in case of HUF, any above documents of the Karta will serve as required proofs.
For other than Individual:
In case of Company, copy of certificate of registration issued by ROC and in case of Firm or any other person, copy of Partnership Deed, Trust Deed, copy of certificate of registration issued by any competent authority.
PAN application form should be completed in all respects otherwise it will not be accepted at TIN facilitation centres. These centres also helps applicants to fill up the form correctly.
After submitting application form you will get acknowledgement receipt. Now you can check the status of your PAN card through acknowledgement number printed on above receipt after three days on UTIITSL / TIN website. It normally takes 2-3 weeks to deliver PAN card to your doorstep.