What is PAN?
A PAN (Permanent Account Number) is a unique identification number that links all financial transactions made by an individual or entity to the Income Tax Department. The PAN system ensures that every transaction can be traced, which helps in reducing tax evasion and creating transparency in financial dealings.
A PAN card is essential for various reasons:
- Income Tax Filing: A PAN card is mandatory for filing income tax returns (ITR) in India. It helps track your taxable income and ensures compliance with tax laws.
- Opening Bank Accounts: Banks require a PAN card for opening new accounts, especially for current and savings accounts.
- High-Value Transactions: PAN is required for high-value financial transactions like purchasing property, vehicles, or investments exceeding a certain amount.
- Receiving Professional Fees: For freelancers and professionals, a PAN card is essential to receive payments above a certain limit.
- Business Registration: Businesses, including partnerships and companies, must have a PAN for tax registration and compliance.
- Proof of Identity: A PAN card is also accepted as a valid proof of identity and age in various situations.
The Permanent Account Number (PAN) is a unique ten-digit alphanumeric identifier issued by the Income Tax Department of India. It is a critical document for individuals and businesses alike, enabling them to perform various financial transactions, file taxes, and serve as a valid proof of identity. In this blog, we will explore the importance of PAN, the registration process, and the documents required to obtain it.
Documents Required for Pan card
To initiate the registration process, please prepare the following documents:
(Resident Individuals including students, salaried employees, housewives)
Adhar Card
Mobile No
Email I'd
An affidavit by the Karta of HUF with name, father’s name, and address of all coparceners
Proof of Identity, Address & Date of Birth of the Karta (same as for Individuals)
Certificate of Incorporation issued by the Registrar of Companies (ROC)
Company’s PAN application should be signed by the authorized signatory (e.g., Director)
Partnership Deed
If registered, then also Certificate of Registration issued by Registrar of Firms
Authorized Partner's ID & Address Proof (for signature)
Trust Deed
Certificate of Registration Number issued by Charity Commissioner
Trustee’s ID & Address Proof
The following documents are required to apply for a PAN card:
Identity Proof (Any one)
Aadhaar Card
Voter ID
Passport
Driving License
Ration Card with photo
Address Proof (Any one)
Aadhaar Card
Utility Bills (Electricity, Water, Gas)
Voter ID
Passport
Bank Statement
Proof of Date of Birth (Any one)
Birth Certificate
School Leaving Certificate
Passport
Matriculation Certificate
Pension Payment Order
Two Passport Size Photographs
Photographs are required if applying for a PAN card in paper format.
At Samrat Consultancy, we provide complete assistance for PAN Card Registration. Our services include:
- Form Filling Assistance: We help you correctly fill out the PAN application forms to avoid delays and rejections.
- Document Submission: We assist with gathering and submitting the required documents.
- Application Tracking: We track your application’s status and ensure a smooth process from start to finish.
- PAN Correction Services: If you need to correct details on your existing PAN card, we can help you with the process.