What is PAN NO, Its uses and Their Benefits

WHAT IS PAN NO?

Pan is a combination of 10 digit alphanumeric number

KYYPS4720N

   4th 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://onlineservices.proteantech.in/paam/endUserRegisterContact.html

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

Pan Application type  

New Pan Indian Citizen   -    Form No -93

New Pan Indian Entity     -    Form No -94

New Pan Foreign Citizen  -   Form No - 95

New Pan Foreign Entity    -   Form No - 96

 Changes or correction in existing pan card in above.

Select Applicant Category

1. Individual
2. Association of Person
3. Body of Indviduals
4. Company
5. Trust
6. Limited Liability Partnership/Partnership firm
7. Firm
8.  Government
9.  Hindu Undivided Family
10.   Artificial Judicial Person
11.  Local Authority

Applicant Details

1. Title
2. Name
3. Date of Birth
4. Email Id
5. Mobile No

DOCUMENTS REUIRED FOR PAN CARD?

 1. In case of Proprietorship

1. Aadhar card
2. Pan Card

2. In Case of Partnership Firm/LLP

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

3. Huf

1. Huf Deed
2. Karta Aaadhar and Pan Card

4. Trust/Society

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

5. Company

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

USE OF PAN CARD

1. Identity Card of Indian Citizen.
2. Mandatory 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, 4th 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.