WHAT IF MY PAN LOSTS:-
If the PAN card is lost then you can apply for duplicate PAN card by submitting the Form for "Request for New PAN Card or/ and Changes or Correction in PAN Data" and a copy of FIR may be submitted along with the form.
If the PAN card is lost and you don't remember your PAN, then in such a case, you can know you PAN by using the facility of "Know Your PAN" provided by the Income Tax Department. This facility can be availed of from the website of Income Tax Department - www.incometaxindia.gov.in
You can know your PAN online by providing the core details like Name, Father's Name and Date of Birth. After knowing the PAN you can apply for duplicate PAN card by submitting the "Request For New PAN Card Or/ And Changes Or Correction in PAN Data".
WHOM TO CONTACT FOR ANY ENQUIRY:-
The Income Tax Department or NSDL can be contacted in any of the following means
Income Tax Department
SMS NSDLPAN <space> Acknowledgement No. & send to
57575 to obtain application status.
INCOME TAX PAN SERVICES UNIT (Managed by NSDL e-Governance
Infrastructure Limited), 5th Floor, Mantri Sterling, Plot No. 341, Survey
No. 997/8, Model Colony, Near Deep Bunglow Chowk, Pune - 411 016.
Transactions for which PAN is compulsory:-
Following are the specified financial transactions in which quoting of pan is mandatory:
• Sale or purchase of any immovable property valued at five lakh rupees or more
• Sale or purchase of a motor vehicle or vehicle (other than two wheeler vehicles).
• making a time deposit with a banking company exceeding fifty thousand rupees or deposit in post office savings bank exceeding fifty thousand rupees.
• making an application for telephone connection including cellular telephone.
• payment in cash for purchase of bank drafts or pay orders or banker's cheques for an amount aggregating to fifty thousand rupees or more during any one day or deposit in cash aggregating to fifty thousand rupees or more with a bank during any one day.
• A contract of a value exceeding one lakh rupees for sale or purchase of securities.
• Opening of a bank account. In case of a minor, pan of father, mother or guardian, as the case may be, shall be mentioned.
• Payment to hotels and restaurants against their bills for an amount exceeding twenty-five thousand rupees at any one time.
• payment in cash in connection with travel to any foreign country of an amount exceeding twenty-five thousand rupees at any one time.(travel to foreign country does not include travel to Bangladesh, Bhutan, Maldives, Nepal, Pakistan, or Sri Lanka, or travel to Saudi Arabia for haj or travel to china on pilgrimage to Kailash Mansarover.)
• making an application for issue of credit card or debit card.
• Payment of an amount of fifty thousand rupees or more to a mutual fund for purchase of its units.
• Payment of an amount of fifty thousand rupees or more to a company for acquiring shares issued by it.
• Payment of an amount of fifty thousand rupees or more to a company or an institution for acquiring debentures or bonds issued by it.
• payment of an amount of fifty thousand rupees or more to the reserve bank of India for acquiring bonds issued by it.
• Payment of an amount aggregating fifty thousand rupees or more in a year as life insurance premium to an insurer.
• Payment to a dealer:
(i) Of an amount of five lakh rupees or more at any one time; or
(ii) Against a bill for an amount of five lakh rupees or more for purchase of bullion or jewellery
A person not holding pan and intending to enter into the above specified transactions can furnish form no. 60 (form 61 in case of person having only agricultural income).
PENALTY FOR HOLDING MORE THAN ONE PAN:-
A person cannot hold more than one PAN. If a PAN is allotted to a person, then he cannot apply for obtaining another PAN. A penalty of Rs.10,000/- is liable to be imposed underSection 272B of the Income-tax Act, 1961 for having more than one PAN.
If a person has been allotted more than one PAN then he should immediately surrender the additional PAN card(s).
PENALITY FOR NON COMPLIANCE OF PROVISIONS OF PAN:-
SECTION 272B provides for penalty in case of default by the taxpayer in complying with the provisions relating to PAN, i.e., not obtaining PAN, even though he is liable to obtain PAN or knowingly quoting incorrect PAN in any prescribed document in which PAN is to be quoted or intimating incorrect PAN to the person deducing tax or person collecting tax. Penalty of Rs.10,000 undersection 272B can be levied
HOW TO APPLY FOR FURTHER CHANGES IN PAN:-
However, any change in the PAN database (i.e. details provided at the time of obtaining PAN) should be intimated to the Income Tax Department by furnishing the details in the form for “Request For New PAN Card Or/ And Changes or Correction in PAN Data
HOW TO APPLY FOR PAN:-
Who has to apply for PAN:-
PAN is to be obtained by following persons:
A person not covered in any of the above can voluntarily apply for pan.
What is the fees for obtaining PAN:-
The applicant has to pay a fee of Rs. 93 + service tax as applicable, per PAN application. In case, the PAN Card is to be dispatched outside India then additional dispatch charge of Rs. 866/- will have to be paid by applicant.
In case of emergency allotment of PAN:-
There is no such facility available for any assesse.
Incomplete application form for PAN:-
IT PAN Service centers or tin facilitation centers shall not receive any incomplete and deficient PAN application. However, these centers will assist applicants to correctly fill up form 49A/49AA (as the case may be).
HOW TO FILL FORM 49A/ 49AA:-
Form 49A/49AA (as the case may by) should be filled legibly in BLOCK LETTERS and preferably in black ink. It should also be noted that, each box, wherever provided, should contain only one character (alphabet /number / punctuation sign) leaving a blank box after each word.
IN CASE OF MARRIED GIRLS;-
While providing the full name, applicant should provide father’s name and hence, married female should provide father’s name and not husband’s name.
WHO CAN APPLY ON BEHALF OF NON RESIDENTS, MINORS, LUNATICS, IDIOTS AND COURT OF WARDS:-
SECTION 160 of Income-tax Act, 1961 provides that a non-resident, minor, lunatic, idiot, mentally retarded, deceased, wards of court and such other persons may be represented through a Representative Assessee.
In such cases,
Proof of Identity and Proof of address is also required for representative assesse
SIGN REQUIRED FOR PAN APPLICATION FORM:-
Application in Form 49A/49AA must be signed (left thumb impression in case of persons unable to sign) by:
Representative Assessee in case of Minor/deceased/idiot/lunatic/mentally retarded.
HOW TO SIGN FOR PAN APPLICATION FORM:-
The applicant has to provide signature at three places in form 49A/49AA. If the applicant cannot sign, then the Left Hand Thumb impression of the applicant should be affixed at the place meant for signatures and should be attested by a Magistrate or a Notary Public or a Gazetted Officer, under official seal and stamp. Three signature/thumb impressing are to be provided as follows:
Applications not signed in the given manner and in the space provided for signature are liable to be rejected.
HOW CAN I CHECK PAN STATUS:-
After applying for PAN, one can check the status of his application by using the track status facility available at web sites of Income Tax Department or UTIITSL or NSDL i.e. www.incometaxindia.gov.in or www.utiitsl.com and www.tin-nsdl.com
WHAT TO DO AFTER OBTAINING PAN:-
Yes, you should intimate your PAN to the deductor i.e. person deducting tax. From 1st April, 2010, non-furnishing of PAN to deductors results in TDS at much higher rate of 20% or even more
VALIDITY OF PAN:-
PAN obtained once is valid for life-time of the PAN-holder throughout India. It is not affected by change of address or change of Assessing Officer etc.
What documents are required with Application of PAN (Permanent Account Number)
DOCUMENTS REQUIRED TO OBTAIN PAN:-
DOCUMENTS NEEDED IN CASE OF NON- INDIVIDUAL
Company registered in India
Copy of Certificate of Registration issued by the Registrar of Companies.
Partnership Firm formed or registered in India
Copy of Certificate of Registration issued by the Registrar of Firms or Copy of partnership deed.
Limited Liability Partnership formed or registered in India
Copy of Certificate of Registration issued by the Registrar of LLPs
Association of Persons (Trust) formed or registered in India
Copy of trust deed or copy of certificate of registration number issued by Charity Commissioner.
Association of Person(other than trusts), Body of
Individuals, Local Authority, or
Artificial Juridical Person formed or registered in India
Copy of Agreement or copy of certificate of registration number issued by charity commissioner or registrar of cooperative society or any other competent authority or any other document originating from any Central or State Government Department establishing identity and address of such person.
WHAT CONSTITUES FOR PROOF OF RESIDENCE:-
Copy of any of the following document will serve as proof of address in case of individual applicants being Indian citizens (including those located outside India):
WHAT CONSTITUTES PROOF OF IDENTITY:-
Any of the following document will serve as proof of identity in case of individual applicants being Indian citizens (including those located outside India) :
• Copy of following :
WHAT CONSTITUTES AS PROOF OF DATE OF BIRTH:-
Copy of any of the following document will serve as proof of date of birth in case of individual applicants being Indian citizens (including those located outside India) :
WHAT CONSTITUTES AS PROOF OF ADDRESS IN CASE OF NON RESIDENTS:-
Copy of following will serve as proof of address in case of individuals not being a citizen of India
Copy of Visa granted & Copy of appointment letter or contract from Indian Company & Certificate (in original) of Indian address issued by the employer.
WHAT CONSTITUTES AS PROOF OF IDENTITY IN CASE OF NON- RESIDENTS:-
Copy of following will serve as proof of identity in case of individuals not being a citizen of India :
Copy of other national or citizenship Identification Number or Taxpayer Identification Number duly attested by "Apostille" (in respect of countries which are signatories to the Hague Apostille Convention of 1961) or by the Indian Embassy or High Commission or Consulate in the country where the applicant is located or authorised officials of overseas branches of Scheduled Banks registered in India.
WHAT IS PAN:-
PAN stands for Permanent Account Number. PAN is a ten-digit unique alphanumeric number issued by the Income Tax Department. PAN is issued in the form of a laminated plastic card (commonly known as PAN card). Given below is an illustrative PAN: ALWPG5809L
WHY DEPARTMENT NEEDS PAN:-
PAN enables the department to link all transactions of the assesse with the department. These transactions include tax payments, TDS/TCS credits, returns of income, specified transactions, correspondence and so on. It facilitates easy retrieval of information of assesse and matching of various investments, borrowings and other business activities of assesse
Why PAN has unique identity:-
Pan is a ten-digit unique alphanumeric number issued by the income tax department. The formation of pan is discussed below:
The combination of all the above items gives the pan its unique identity.
Benefits of PAN:-
A permanent account number has been made compulsory for every transaction with the income-tax department. It is also mandatory for numerous other financial transactions such as opening of bank accounts, availing of institutional financial credits, purchase of high-end consumer items, foreign travel, transaction of immovable properties, dealing in securities, etc. A PAN Card is a valuable means of photo identification accepted by all government and non-government institutions in the country.
Can i file return without PAN:-
It is mandatory to quote PAN on the return of income. Apart from return of income, PAN is also to be quoted in all challans for making payment of tax, correspondence with the income tax department, etc.