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Pan Registration in India

 

Permanent account number (PAN) is the identifier of Indian income tax payers in the form of AAAPL1234C. It is unique, 10-character alpha-numeric identifier, issued to all juristic entities identifiable under the Indian Income Tax Act 1961. It is issued by the Indian Income Tax Department under the supervision of the Central Board for Direct Taxes (CBDT) and it also serves as an important proof of identification.

Like Aadhaar and driving license, it is also issued to foreign nationals on valid visa as it is not a proof of nationality.
This number is almost mandatory for financial transactions such as opening a bank account, receiving taxable salary or professional fees, sale or purchase of assets above specified limits etc.
The primary purpose of PAN is to bring a universal identification to all financial transactions and to prevent tax evasion by keeping track of monetary transactions of high-net-worth individuals.
The PAN is unique, valid for life-time of the PAN-holder throughout India. It is not affected by change of address.

 

Uses of Pan:

Quoting of PAN is mandatory in income tax returns, tax deduction at source, and with communication with Income Tax Department. PAN is also required to be provided for opening new bank account, new telephone/mobile phone SIM, purchase of foreign currency, bank deposits above Rs. 50,000/=, purchase and sale of immovable properties, vehicles etc.

 

How to Get Pan?
Or,
Procedure of getting Pan Card:

 

Obtaining PAN is optional and voluntary like passport, driving license, Aadhaar etc. However, its use is mandatory at required places, like PAN for high-value financial transactions, Driving License for motor driving, passport for foreign travel etc.
One can apply for PAN by submitting the prescribed PAN application to the authorized PAN agency of the district or through online submission to NSDL along with 2 face-photos, ID proof, address proof and fee. In case of Re-print (re-issue), a photocopy of the old PAN is also required. Quoting Aadhaar Number attached with Aadhaar card is optional presently. However, it is recommended to provide Aadhaar letter now, if one has it, so that PAN gets linked to Aadhaar. It will save future effort of Aadhaar linking when it becomes mandatory. It takes about one month to receive the card and is sent by registered India Post.

 

Structure and Provisions of Pan:

  • IT PAN card is issued under Section 139A of the Income Tax Act.
  • The PAN structure is as follows: AAAPL1234C: First five characters are letters, next four numerals, last character letter.
  • The first three letters are sequence of alphabets from AAA to ZZZ
  • The fourth character informs about the type of holder of the card.
  • Each holder is uniquely defined as below:

A — Association of Persons (AOP)
B — Body of Individuals (BOI)
C — Company
F — Firm
G — Government
H — HUF (Hindu Undivided Family)
L — Local Authority
J — Artificial Judicial Person
P — Individual
T — AOP (Trust)

  • The fifth character of the PAN is the first character
    • (a) of the surname or last name of the person, in the case of a "Personal" PAN card, where the fourth character is "P" or
    • (b) of the name of the Entity, Trust, society, or organisation in the case of Company/ HUF/ Firm/ AOP/ BOI/ Local Authority/ Artificial Jurdical Person/ Govt, where the fourth character is "C","H","F","A","T","B","L","J","G".
  • The last character is an alphabetic check digit.

Nowadays, the DOI (date of issue) of the PAN card is mentioned at the right (vertical) hand side of the photo on the PAN card.
The central government has introduced a new online service called "Know Your PAN" to verify or validate new and existing PAN numbers.
Failure to comply with the provisions of Section 139A of Income Tax Act, penalty of Rs. 10,000/- for each default is payable u/s.272B by Assessing Officer.

 

Concerns with PAN Cards

Or,
Penalty for Obtaining Multiple Pan Card:

Although there are only 30 million (3 crore) income tax payers in India, yet there are 170 million genuine PANs issued as of 2014. While the alphanumeric PAN number is unique, individuals and corporate entities have been able to obtain multiple PAN cards fraudulently. It is illegal to obtain multiple PANs and there is a penalty of Rs.10, 000/= when caught. In addition, there are fake PAN cards due to ubiquitous plastic card printers. Additionally, illegal immigrants have also got PAN cards issued to them; most have used the services of PAN card agents

 

 

Tan Registration in India

 

 

  • TAN REGISTRATION:

TAN stands for Tax Deduction and Collection Account Number. It is a 10-digit alpha numeric number issued by the Income Tax department in India.

 

Who should have a TAN?

Tax Deduction Account Number (TAN) is a unique 10 digit alphanumeric code allotted by the Income Tax Department to all those persons who are required to deduct tax at the source of income. It is mandatory to quote TAN on all TDS (Tax Deduction at Source) returns (including e-TDS return) or any TDS payment challan. In order to apply for a TAN or to get a change/ correction carried out in an existing TAN record, you are required to submit the requisite application form, which is available at any of the Tax Information Network Facilitation Centres (External website that opens in a new window)(TIN-FCs) managed by the National Securities Depository Ltd (NSDL). (External website that opens in a new window). All those persons/employers who deduct tax at source or collect tax at source on behalf of Income Tax Department are required to apply for and obtain TAN.

 

How to Apply for TAN?

 

Offline:

 

1. Application forms can either be obtained from Tax Information Network Facilitation Center (TIN-FCs), PAN centres, any other vendors providing such forms or can be freely downloaded from this website.

 
2. TAN should be applied through Form No 49B

 

3. The application form should be accompanied with photocopies of your ‘proof of identity’ and ‘proof of address’ and a fee of INR 62.

 
a.  Demand draft/cheque shall be in favour of ‘NSDL – TIN’, payable at Mumbai.

b.  In case you are paying by cheque, deposit a local cheque (drawn on any bank) with any HDFC Bank branch across the country (except Dahej). Mention TANNSDL on the deposit slip.
c.   Mention your name on the reverse of the demand draft / cheque.

 

4. Submit the duly filled form with the necessary enclosures and demand draft/cheque at your nearest TIN-FC. These centres are established by NSDL (which is an appointed intermediary by the Government) across India. To find a TIN-FC near you, click Find TIN-FC

 

Online:

 

1. Apply for your TAN online. Click here – Apply for TAN

 
2. On confirmation, an acknowledgment screen will be displayed. Save and print this acknowledgment. The acknowledgment consists of the following.

 

• A unique 14-digit acknowledgment number
• Status of applicant
• Name of applicant
• Contact details (address, e-mail and telephone number)
• Payment details

• Space for signature

 

3. Sign within the box provided in the acknowledgment. For applicants other than ‘Individuals’, the authorised signatory shall sign the acknowledgment and affix the appropriate seal or stamp.

 

4. Once you have applied online, documents showing your ‘proof of identity’ and ‘proof of address’ need to be sent over post/courier to NSDL – TAN Application division

 
Payment:

 

The fee for processing TAN application is INR 62 (INR 55 application charge + 12.36% Service Tax). Payment can be made by demand draft or cheque or credit card/debit card or net banking. Note the following important points:

 
1. Demand draft/cheque shall be in favor of ‘NSDL – TIN’, payable at Mumbai.

2. In case you are paying by cheque, deposit a local cheque (drawn on any bank) with any HDFC Bank branch across the country (except Dahej). Mention TANNSDL on the deposit slip.
3. Mention your name and the acknowledgment number on the reverse of the demand draft / cheque.

4. On successful payment by credit card/debit card/net banking an acknowledgment will be displayed.

5. Send the acknowledgment duly signed, along with demand draft, if any, shall be sent to NSDL at

 
National Securities Depository Limited
3rd floor, Sapphire Chambers,
Near Baner Telephone Exchange,
Baner,
Pune – 411045.

6. Super-scribe the envelope with ‘APPLICATION FOR TAN – Acknowledgment Number’ (e.g. ‘APPLICATION TAN – 88301020000244′).

7. Your acknowledgment and demand draft, if any, should reach NSDL within 15 days from the date of online application.
Once NSDL receives your TAN application along with said documents, either through TIN FC or online, the details will be verified and then sent to Income Tax Department. Upon approval, the Income Tax Department will allocate a unique number and send you the confirmation and number through NSDL.

 

(Disclaimer: The above-mentioned steps are a guide to the procedure of applying for a TAN. We request our readers to check with the appropriate Government department to get the complete regulations regarding TAN application)

 

 

PAN REGISTRATION:

These Documents are required for Pan Registration in India:

 

1. Address Proof (Driving License/Adhaar Card/Electricity Bill/Voter ID)
2. ID Proof(Driving License/Passport/Voter ID)
3. Proof of Date of Birth (Matric certificate/ Birth Certificate)

 

Partnership Concern:

Partnership Deed (Xerox Copy)

 

Private Limited Company:

Certificate of Incorporation

 

NOTE :

 

Please Use Resources - Articles & Forms tab to know more about documents required for allotment of pan at current date.

 

TAN REGISTRATION:

 

These Documents are required for Pan Registration in India:

 

1. PAN Card Xerox Copy (or) Partnership Deed (or) MOA

 

Partnership Concern:

 

1. Partnership Deed (Xerox Copy)

 

Private Limited Company:

 

1. Certificate of Incorporation

 

NOTE :

 

Please Use Resources - Articles & Forms tab to know more about documents required for registration at current date.

 

 

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