About Permanent Account Number (PAN)

Permanent Account Number (PAN) is a code that acts as identification for Indian nationals, especially those who pay Income Tax. It is a unique, 10-character alpha-numeric identifier, issued to all judicial entities identifiable under the Indian Income Tax Act, 1961.

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Our scope of work

    1. Preparation of PAN Application (Indian Resident);

    2. Filing with Authorities;

    3. Obtaining PAN

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Know more about Permanent Account Number (PAN)

Permanent Account Number (PAN) is a code that acts as identification for Indian nationals, especially those who pay Income Tax. It is a unique, 10-character alpha-numeric identifier, issued to all judicial entities identifiable under the Indian Income Tax Act, 1961.

 

BRIEF DETAILS ABOUT PAN

1. Income Tax PAN card is issued under Section 139A of the Income Tax Act.

2. The PAN structure is as follows: AAAPL1234C: First five characters are alphabets, next four numerals, and last character is also alphabet.

3. The first three letters are sequence of alphabets from AAA to ZZZ

4. The fourth character informs about the type of holder of the card. Each holder is uniquely defined as below:

  • A — Association of Persons (AOP)
  • B — Body of Individuals (BOI)
  • C — Company
  • F — Firm
  • G — Government
  • H — HUF (Hindu Undivided Family)
  • L — Local Authority
  • J — Artificial Juridical Person
  • P — Individual
  • T — Trust (AOP)
  • K — Krish (Trust Krish)

5. The fifth character of the PAN is the first character

  • of the surname or last name of the person, in the case of a "Personal" PAN card, where the fourth character is "P" or
  • of the name of the Entity, Trust, society, or organisation in the case of Company/ HUF/ Firm/ AOP/ BOI/ Local Authority/ Artificial Judicial Person/ Govt, where the fourth character is "C","H","F","A","T","B","L","J","G".

6. The last character is an alphabetic check digit.

7. The central government has introduced a new online service called "Know Your PAN" to verify or validate new and existing PAN numbers.

8. It is also issued to foreign nationals (such as investors) subject to a valid visa and hence, it is not acceptable as a proof of Indian citizenship.

 

Registering Authority:

  • Income Tax Department under supervision of Central Board for Direct Tax

STEP

1

Make an online application

STEP

2

Acknowledgment will be received on confirmation of an application

STEP

3

Submission of physical copy of acknowledgment and other documents along with proof of payment

STEP

4

Application get processed by the department

STEP

5

PAN is alloted

  • Quoting the PAN is mandatory when filing Income Tax returns, tax deduction at source, or any other communication with Income Tax Department. PAN is also steadily becoming a mandatory document for opening a new bank account, a new landline telephone connection / a mobile phone connection, purchase of foreign currency, bank deposits above INR 50,000 purchase and sale of immovable properties, vehicles etc.

 

  • 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.; especially high-value transactions.

 

  • The primary purpose of the PAN is to bring a universal identification to all financial transactions and to prevent tax evasion by keeping track of monetary transactions, especially those of high-net-worth individuals who can impact the economy.

 

  • 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.