Indian nationals, especially those who pay Income Tax. It is a unique, 10-character alpha-numeric pan card application form pdf 2016, issued to all judicial entities identifiable under the Indian Income Tax Act, 1961.
The PAN is mandatory for a majority of financial transactions such as opening a bank account, receiving taxable salary or professional fees, sale or purchase of assets above specified limits etc. The PAN is unique to each individual and is valid for the lifetime of the holder, throughout India. An important point to note would be that once issued, the PAN is not affected by a change of address. Income Tax PAN card is issued under Section 139A of the Income Tax Act. The PAN structure is as follows: AAAPL1234C: First five characters are letters, next four numerals, last character letter.
The fourth character informs about the type of holder of the card. Govt, where the fourth character is “C”,”H”,”F”,”A”,”T”,”B”,”L”,”J”,”G”. The last character is an alphabetic check digit. PAN card if issued by NSDL and will not be mentioned if issued by UTI-TSL. 272B to the Assessing Officer. Quoting the PAN is mandatory when filing Income Tax returns, tax deduction at source, or any other communication with Income Tax Department.
50,000, purchase and sale of immovable properties, vehicles etc. Obtaining PAN is optional and voluntary like passport, driving license, Aadhaar etc. However, its use is mandatory at required places, like PAN for high-value financial transactions, Driving License for motor driving, passport for foreign travel etc. 2 recent passport size color photographs, proof of ID, Address and Date of Birth and fee. 15 days to receive the card.
User with Aadhaar Card can also submit e-KYC. Application for allotment of PAN: – This application form should be used when the applicant has never applied for a PAN or does not have PAN allotted to him. Applicant may visit ITD’s website www. PAN has been allotted to him or not. FORM 49A: – To be filled by Indian citizens including those who are located outside India. FORM 49AA: – To be filled by foreign citizens.