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Permanent Account Number - PAN

How to apply PAN card for a partnership firm in India

Last updated on February 19, 2016 by Editorial Staff

Partnership firm in India are governed by Partnership Act, 1932. In India anyone can form partnership firm either by writing a partnership agreement or by oral. For income tax purpose, partnership firm has to submit partnership deed as a proof of its existence along with PAN card application form 49A. Before applying you need to make sure that partnership deed is prepared … [Read more...] about How to apply PAN card for a partnership firm in India

Is PAN card a mandatory requirement for company registration in India

Last updated on June 28, 2020 by Editorial Staff

In case of Indian residents, Income tax's Permanent Account Number or PAN details are a mandatory requirement for company incorporation. While applying for DIN in form DIR-3, you are required to provide your income tax's permanent account number or PAN details and get it verified online. However, this field is not a mandatory field in DIR-3. But it does not mean that PAN … [Read more...] about Is PAN card a mandatory requirement for company registration in India

Why should NRI get a PAN Card

Last updated on May 9, 2014 by Editorial Staff

Non resident Indians (NRI) are taxable for the income that they receive from India. With effect from 1st of April 2010, non resident Indians are required to obtain Permanent Account Number (PAN) from IT department and provide the same to the deductor. Failure to do so will attract higher withholding of income tax at the rate of 20% compare to the normal income tax rate … [Read more...] about Why should NRI get a PAN Card

More than one PAN will attract penalty of Rs.10000

Last updated on May 9, 2014 by Editorial Staff

PAN is an alphanumeric 10 digit number which is used in all communication to income tax department. As per the provisions of income tax act, one tax payer can not possess more than one PAN. This does not mean that you can not apply for a PAN card if it’s lost. What we are talking about is one individual or company or firm can not possess more than one number. One number should … [Read more...] about More than one PAN will attract penalty of Rs.10000

How to Apply for a Duplicate PAN Card

Last updated on May 9, 2014 by Editorial Staff

PAN card is an essential document for all purpose. Now a days its not only required for income tax purpose but for all financial transactions and identity proof PAN card is required. You should not be tensed or restless by losing your PAN card as your can get issued a duplicate one from income tax department. Obtaining a duplicate PAN card is a very simple process. To get a … [Read more...] about How to Apply for a Duplicate PAN Card

TDS @20% if PAN is not quoted

Last updated on May 9, 2014 by Editorial Staff

You have to pay higher income tax at source with effective from 1st of April 2011 in cases where you have not given your PAN number to the payer. IT act has specified 22 items where the payer has to compulsorily deduct income tax from the income or payment that is paid to the payee. Every person receiving these amounts has to compulsorily furnish his/her permanent account … [Read more...] about TDS @20% if PAN is not quoted

Form 60 or 61- Income tax form to be submitted in place of PAN

Last updated on May 8, 2014 by Editorial Staff

Form 60 or 61 can be submitted by a person in case he or she is entering into a transaction where quoting PAN is compulsory. Income tax act specifically mentioned certain transactions where PAN must be quoted. Form 60 has to be produced by a person who does not have PAN card but entering into any of the transaction specified below;  … [Read more...] about Form 60 or 61- Income tax form to be submitted in place of PAN

All about your PAN Card

Last updated on January 23, 2015 by Editorial Staff

PAN stands for Permanent Account Number. It's issued by income tax department and treated as an important identity proof in India. Purpose of issuing Pan Card is to have a universal identification number which can be linked to financial transactions and indirectly prevent tax evasion by keeping track of your all high value transactions. Permanent Account Number A typical … [Read more...] about All about your PAN Card

What is a TIN Facilitation Center and How to find a TIN Facilitation Center

Last updated on June 26, 2015 by Editorial Staff

Tax information network or in short TIN has been in India to process various forms related to PAN and TDS of a person in India or abroad. These TIN Facilitation Centers cum PAN Centers are operated by NSDL and available across the country for applying of PAN and to fulfill other statutory requirements. Companies like Alankit Assignments Limited, Integrated Registry … [Read more...] about What is a TIN Facilitation Center and How to find a TIN Facilitation Center

How to make changes to the existing PAN card?

Last updated on June 26, 2015 by Editorial Staff

Correction or changes to Permanent Account Number or PAN details are done only when any data relevant to the PAN card such as applicant’s name, father’s name, birth date, address etc required to be changed and updated with the income tax department’s records. You can obtain a PAN change request form from any TIN Facilitation center or online from NSDL Site or UTI Site. After … [Read more...] about How to make changes to the existing PAN card?

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