What is PAN NO, Its uses and Their Benefits

WHAT IS PAN NO?

Pan is a combination of 10 digit alphanumeric number

KYYPS4720N

   4^th letter denotes types of person as per income Tax Act 1961.

  P - P DENOTES PROPRIETORSHIP

C -  C Denotes Company

F -  Partnership Firm

A - Association of Person, Body of Individual

T - Trust

MODE OF APPLY PAN CARD?

It can be apply both online as well as offline.

HOW TO APPLY FOR A PAN CARD?

Visit to official website

https://www.onlineservices.nsdl.com/paam/endUserRegisterContact.html

Fill the Application along with following details which are as follows:-

1. Pan Application type   -    New Pan Indian Citizen

                                              -    New Pan Foreign Citize

                                               -    Changes or correction in existing pan card in both of above.

2. Select Applicant Category

1. Trust
2. Limited Liability Partnership
3. Firm
4. Government
5. Hindu Undivided Family
6. Artificial Judicial Person
7. Local Authority

3.  Title

4. Name

5. Date of Birth

6. Email Id

7. Mobile No

DOCUMENTS REUIRED FOR PAN CARD?

In case of Proprietorship

1. Aadhar card
2. Pan Card

In Case of Partnership

1. Partnership Deed
2. Authorized Signatory Aadhar Card and Pan Card

Huf

1. Huf Deed
2. Karta Aaadhar and Pan Card

Trust/Society

https://studio.youtube.com/video/mAeuC8CbZZY/edit

1. Trust deed/Society Registration Certificate along with Moa and rules  and Regulations
2. Authorized Signatory Aadhar card and pan Card

Company

       No separate pan card application because pan card come along with Company Registration.

USE OF PAN CARD

1. Idendity Card of Indian Citizen.
2. Manadatory Requirement for Income Tax filing.

BENEFITS OF PAN CARD

1.  Helps to Start Business
2. Deduction in Tax
3. Opening a Demat Account or Bank Account
4. Income tax Return Filing
5. Investing and Purchase RBI Bonds and Insurance
6.   Buy Foreign Currency

WHERE TO SENT PAN CARD COMPLETE ADDRESS ALONG WITH PIN CODE?

https://youtube.com/shorts/mAeuC8CbZZY?feature=share

Protean E-Gov Technologies Limited, 4^th Floor, Sapphire Chambers, Baner Road, Baner Pune - 411045.

FAQ’S

PENALTY FOR MORE THAN ONE CARD

There is Strict regulation regarding owning multiple Pan’s Imposing fine of Rs 10,000/-

HOW TO SUREENDER PAN CARD

If u wish to request/cancel your pan card, then you need to visit your jurisdictional Income Tax Assessing Officer with a Request Letter.