Income Tax Registration – PAN

PAN is a 10 digit alphanumeric number whose structure is as follows: AAAPL1234C: First five characters are letters, next four numerals, last character letter.

Quotation of PAN is mandatory for:-

1. Filing Income Tax returns
2. Tax deduction/collection at source
3. Any other communication with Income Tax Department.

PAN is also steadily becoming a mandatory document for opening a new bank account, a new landline telephone connection / a mobile phone connection, purchase of foreign currency, bank deposits above ₹50,000, purchase and sale of immovable properties, vehicles etc.

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.

The reputed entities NSDL & UTIITSL has been entrusted by IT Department as managed service providers for processing of applications, collecting, handling and verifying personal documents like proof of ID, age and address, clarification with the applicants, printing the card and the letter and then mailing it.

An application in form No.49A is to be filed along with following documents.

1. Two recent passport size color photographs
2. Proof of ID
3. Proof of Address
4. Date of Birth Proof

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