Permanent Account Number (PAN)

One Time Registration

450* Basic Package

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Overview

What is Permanent account number?

A permanent account number is an identification number provided by the income tax department. This is a unique number allotted to each person who are either liable to pay tax or buying any assets which needs PAN. In some of the financial or non-financial transaction, this PAN is treated as identity proof of the individual or organisation like buying or sale of any tangible property or buying shares or mutual funds etc. The income tax act mention that people falling under the following criteria are required to obtain PAN:-

1) If a particular person’s income crosses the basic exemption limit for a financial year.
2) If the overall earnings or business exceeds the limit of five lakhs in the financial year.
3) If the person is required to get import and export code or GST registration.
4) If the person receives any amount after deducting withholding tax from the total earnings payable to another person.
5) If any financial transactions which are undertaken require submission of PAN card mandatorily.
6) if any transaction is more than Rs. 2 Lakh irrespective of the mode of payment.

In India PAN can be obtain voluntarily by any person, irrespective of residency, citizenship or age. Hence foreigners or NRIs and any minors are also allowed to obtain PAN

APPLYING FOR PAN :-

An individual can submit the PAN application at PAN facilitation centre that are available in every Indian city/town operating under UTITSL and NSDL. Also a person can register and get his PAN card through the online mode to obtain PAN, PAN application form 49A provided by income tax department must be submitted online or at a PAN facilitation.

SIGN ON PAN APPLICATION:-

The PAN application is prepared, the applicant can sign the application form either with the digital signature or manually. If the applicants opt for a digital digital signature, then the applicant can upload entire application form with the digital signature through the computer or the signature can also be attached through Aadhaar-based e-sign. Individual can only use the Aadhaar-based E sign if their number is registered with their Aadhaar card number. Once the online application form is signed it will get verified through an OTP generation through UIDAI. Once the OTP is entered by the applicant the application form get submitted.

GOVERNMENT FEE FOR PAN CARD :-

In order to submit a pan application or to make changes in a pan card, Govt Fee must be paid. This payment can be made online using credit debit card or internet banking. An individual can pay for them self, parent, spouse or the children. They can also pay through demand draft.

TRACKING OF PAN :-

Once the application is filed a unique 15 digit code will be generated, this unique ID will have details about the documents that need to be physically sent to the service provider. The following procedure must be followed for a successful PAN application:-

1) Completed Form 49A must be downloaded and printed with two photographs of the applicant according to the size given in the application form.
2) Thumb impression or signature must be provided by the applicant across the photo affixed in the given area.
3) The signature or the thumb impression must not exceed the box available for the purpose.
4) Finally, the signature and document must be attested by a Gazetted Officer.

CORRECTION IN PAN :-

If there is any correction or changes in the provided PAN card, it has to be mention in a separate format it must be resubmitted with identity proof, address proof and all the other details. An individual can also carry out changes and correction online, in their PAN Card.

RETURNING OR CANCELLING PAN CARD :-

If an applicant by any mistake has requested or opt in more than one pan card, then he/she can cancel a pen according to the criteria, one person is eligible to have only one pan card and in case of any person is found having more than one pan card, a fine of Rs. 10,000 will be levied. In order to return to cancel a PAN separate form needs to be attached with descriptive letter, mentioning the applicant complete details and the reason for cancelling the permanent account number.

Advantages

1. Lower TDS rate if you have the PAN Card
2. Mandatory for filling the Income tax Return
3. Mandatory for GST Registration
4. Mandatory for some financial transaction as prescribed.
5. Majorly accepted for identity proof of the individual or business.

Document Required

In case of Individual:-

Identity Proof
Aadhar Card
Passport size photograph

In case of HUF:-

A declaration by the Karta
Passport size photo of Karta

In case of Company:-

Company Registration certificate
Address Proof

In case of Partnership Firm or LLP:-

Partnership Deed copy
Registered copy of the LLP
Identity proof of the authorised signatory

Time Lines

(10 to 25 Days)
Purchase the Service
Upload / send the Documents
Discussion with expert
Filing of application with registrar authorities
Receipt of Registration Certificate
Confirmation to client

Service Covered

Pricing for what you want required service

Basic

450*

PAN Registration

Business

1450*

PAN Registration
MSME Registration

Enterprise

2350*

PAN Registration
MSME Registration
GST Registration

Notes:
* This price is inclusive of all Govt filing fee and excluding GST amount.

FAQ's

When Pan is mandatory to quote?

TRANSACTION REQUIREMENT FOR PAN:-

PAN is mandatory for filing income tax return in India. In addition, according to rule of income tax under 114B, one 1962 submission of PAN is necessary for an individual if the taxpayer gets involved in the following financial activity:-

1) Involved in selling or purchasing activities of motor vehicles excluding two-wheelers, where the PAN document is mandatory during the registration process.
2) Opening bank account including with cooperative banks.
3) To apply for a credit card or debit card or loan.
4) An opening of DEMAT account.
5) To pay hotel or restaurant bill of more than Rs.50,000 in a single transaction through cash.
6) To purchase foreign currency of more than Rs.50,000 or travel outside the country through cash.
7) To purchase mutual funds worth Rs.50,000 or above.
8) Buying a company’s debentures or bond worth Rs.50,000 or more.
9) Buying bonds worth Rs.50,000 or more from Reserve Bank of India (RBI).
10) Depositing cash of Rs.50,000 or more in a bank or post office in a single day.
11) Buying bank’s draft, any cheque which is worth Rs.50,000 or more through cash payment in a single day.
12) One time deposit which exceeds Rs.50,000 or more in a single day or Rs.5,00,000 in a single financial year in banks and post offices.
13) Paying a total amount of Rs.50,000 in a financial year for more than one prepaid payment instruments like smart cards, online wallet, mobile wallet etc.
14) While paying insurance premium policies of Rs.50,000 or more during a financial year.
15) While selling or purchasing various securities (except shares) worth of more than Rs.1 lakh in a single transaction.
16) While selling or buying any immovable assets through stamp valuation authority for more than Rs.10 lakhs.
17) Involving in buying or selling activities of any goods or services worth above Rs.2 lakhs in a single transaction.
18) Buying or selling of a company’s share at a value of more than Rs.1 lakh in a single transaction, which does not belong to any recognised stock exchange.

Permanent Account Number (PAN)