Get Your PAN Registration Now

PAN stands for Permanent Account Number. A PAN number is a ten-digit  number in alphabets and numerical, or in 'alphanumeric' terms, that is  allocated by the income tax department to all the taxpayers, and is  unique with each individual. A PAN number helps the authorities keep  track of the financial activities of any individual, as PAN is integral  to all forms of payments. A PAN number is allotted through a laminated  card, which is called a PAN card. A PAN card contains information like  PAN number, Name, DOB, and address.  

• PAN card for Individual taxpayers
• PAN Card for a Company or organization
• PAN cards for partnership firms or business units
• PAN cards for Trusts and cooperative societies 

Yes, a company can apply for a PAN card and the document required  is Copy of Registration Certificate issued by the Registrar of Companies. 

PAN Card is important for taxpayers as it is necessary for all  financial transactions and is used to track the inflow and outflow of  your money. It is important when paying income tax, receiving tax  refunds, and receiving communication from the Income Tax Department.

The Indian Budget 2019 proposed that individuals who do not have a  PAN can use their Aadhaar number to file returns and for any other  purpose where PAN was earlier mandatory. This means that if you have not  link pan with Aadhar yet, or do not have a PAN but have an Aadhaar, you don't have to either link PAN and Aadhar, or apply for a new PAN. However, the rules about this are still in the process of creation/updation/approval.

That said, PAN continues to be necessary for a large number of  monetary transactions. PAN Card also serves as a proof of identity.  Given below are some of the uses and advantages of having a PAN. 

• Since PAN Card contains information such as Name, Age and  photograph, it can be used throughout the country as a valid identity  proof.
• PAN is the best possible way to keep track of your tax payment.  Otherwise, you might be required to pay it multiples times since your  tax payment cannot be verified.
• Since PAN is unique for every entity, its misuse is almost impossible for purposes of tax evasion or other devious means.
• PAN Card can be used to avail utility connections such as electricity, telephone, LPG, and internet.

 In order to apply for a PAN card, an application form has to be  filled out. There are two types of application forms – Form 49A and Form  49AA. Both the forms can be availed through both online and offline  platforms.

• Form 49A: The Form 49A is used by Indian individuals or  entities to apply for a PAN card. Students and minors can also apply  for PAN using this form.

• Form 49AA: The Form 49AA is the application form for PAN which is used in the case of foreigners.

The forms have to duly filled up and sent in to the TIN-NSDL's office.