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Overview
What is a Permanent Account Number?
PAN or Permanent Account Number is a 10 digit alpha-numeric identity issued by the Income Tax Department of India. It is a unique account number allocated by the Income Tax Department, which is used to track and manage all the Income Tax assessee in India.
Although the PAN card application is voluntary, it must be obtained before engaging in certain transactions. For entering into a financial transaction exceeding a specified amount, quoting PAN is compulsory. Also, every business entity must apply for PAN card application within the 30 days of its formation or incorporation.
Requirements of Permanent Account Number
Compulsory for opening Bank Accounts
Mandatory for filing ITR
Nationalized Identity Card
For TDS and TCS transactions
Mention PAN in specified cases
Documents Required for PAN Application
Address Proof
Photograph
Birth Certificate
Proof from Parents
Certificate of Incorporation
Agreement
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 assesseeās last name
Sixth to Ninth Characters
Sixth to Ninth Characters
Tenth Character
Numeric check digit generated automatically
ONLINE REGISTRATION
Register a PAN in 3 Easy Steps
1. Answer Quick Questions
- Spare less than 5 minutes to fill in our Questionnaires
- Provide basic details & documents required for online PAN registration
- Make payment through secured payment gateways
2. Experts are Here to Help
- Preparation and verification of application
- Submission of online PAN Card Application
- Acknowledgment receipt of an application filed
3. Your PAN is assigned
THE PROCESS
PAN Card Application Process
Day 1
- Collection of required documents
Day 2
- Preparation and verification of Application
- Handing the Application to Income Tax Authority
- Sharing acknowledgment receipt
Day 3 - 10
FREQUENTLY ASKED QUESTIONS
Explore about PAN Application online
Who can apply for PAN card?
Any Indian citizen, including a minor, can apply for allotment of Permanent Account Number by furnishing valid proof and documents. Foreign individual or entity can also apply for PAN allotment.
Whether new business requires PAN card?
Yes, every business established in India must apply for PAN card online or offline within the 30 days of establishment. However, sole proprietorship firm does not need so as it does not have a separate identity from its owner.
In how much time is the Permanent Account Number (PAN) allotted?
Once the application for PAN Card is forwarded, generally it takes 5 ā 7 working days for allotment of PAN. However, receipt of physical PAN card may take time.
What is the validity of PAN card?
The Permanent Account Number, once allotted, comes with lifetime validity for individuals and business entities. If the businesses entities are dissolved or closed, it must surrender the allotted PAN.
Can I hold more than one PAN card?
A Person cannot hold more than one PAN card. If a person holds more than one PAN, a penalty of Rs. 10,000/- may be imposed under section 272B. Therefore, the person holding more than one PAN must surrender it immediately.