PAN Registration !

Permanent Account Number (PAN) is a ten-digit alphanumeric number, issued by the Income Tax Department of India. The Permanent Account Number (PAN) is unique to an individual or entity and it is valid across India. Permanent Account Number once allotted to an individual or entity is unaffected by a change of name, address within or across states in India or other factors.

Meaning of PAN card

A typical Permanent Account Number would look like AFZPK7190K.. The logic behind the array of numbers and alphabets is as follows: First three characters i.e. "AFZ" in the above PAN are alphabetic series running from AAA to ZZZ. Fourth character i.e. "P" in the above PAN represents the status of the PAN holder. "P" stands for Individual. "F" stands for Firm. "C" stands for Company. "H" stands for HUF. "A" stands for AOP. "T" stands for TRUST etc. Fifth character i.e. "K" in the above PAN represents first character of the PAN holder's last name/surname. Next four characters i.e. "7190" in the above PAN are sequential number running from 0001 to 9999. Last character i.e. "K" in the above PAN is an alphabetic check digit.

Advantage of PAN

Advantage of PAN includes-

Deduction of fraudulent transactions

Reduce tax evasion

Transparency in transactions between buyer and seller.

What are documents to be submitted along with PAN application?

In order to apply for PAN Card, you will have to submit a host of documents including Form 49A. Given below is the list of documents:

If you are an individual applicant

Proof of identity such as Aadhaar Card, Voter ID, Driving License, etc.
Proof of address such as utility bill, water bill, bank account statement, statement of your credit card, Passport, Driving License, Domicile certificate issued by the Government, certificate of marriage, matriculation certificate, etc.
Two Photographs Email ID, Contact No.

If you belong to a Hindu Undivided Family (HUF)

An affidavit issued by the Karta of the HUF. The affidavit must clearly mention the name, address, and every coparcener father’s name.
If you belong to HUF and is individually applying for a PAN Card, then you will have to submit the proof of identity, proof of address, and date of birth proof.

For companies registered in India

A copy of the Registration Certificate issued by the Registrar of Companies

Firms and Limited Liability Partnerships registered or formed in India

A copy of the Registration Certificate issued by the Registrar of Companies
A copy of the Partnership Deed is to be submitted

For Trusts formed or registered in India

A copy of the Registration Certificate Number issued by a Charity Commissioner.

For Association of Persons

Agreement Copy or Registration Number Certificate issued by the Registrar of Co-operative Society or Charity Commissioner, or any document issued by the Central or State Government, which clearly mentions your address and identity.