PAN or Permanent Account Number is a alphanumeric number generated by Income Tax Authorities. This is the number which is given to every individual or artificial judicial person who has income in excess of the minimum taxable income in India. For doing business in India this is one of the most important document to have as all the other registrations with any other department will ask for PAN or Permanent Account Number issued by Income Tax Department of Govt of India.
Follow the steps mentioned below to know the Procedure for PAN card registration:
Indian citizens/companies/entities need to apply for a PAN card using Form 49A. Get all the information about PAN card eligibility criteria and supported documents required for Indian citizens who want to own an identity for PAN Card. Some of the primary and important criteria are mentioned below:
Any person can obtain PAN. There is no minimum age requirement for obtaining PAN.
A person cannot have 2 PAN cards. It is illegal to have 2 PAN Cards.
Sole Proprietorship does not have a separate PAN Card. PAN Card of Proprietor will also serve as PAN Card of proprietorship.
The physical copy of your PAN Card will be processed and dispatched to the communicated address upon successful registration. The e-PAN card in PDF format will be dispatched to the e-mail ID mentioned in the PAN application form.
Each and every business in India need to have a business PAN Card. There are two ways to find the PAN of unlisted companies – either through the Income Tax India e-filing website or using the GSTIN (Goods and Service Tax registration number) of the company.
PAN is a ten-digit unique alphanumeric number issued by the Income Tax Department and is issued in the form of a laminated plastic card. The first three characters are always alphabetical. The 4th character always represents your status, and the fifth character reveals the starting alphabet of your name. The next 4 are in a random numeric sequence, with the last character being an alphabetic check digit.
PAN stands for Permanent Account Number.
It is required for companies to operate in India < Any tax-related documentation is quoted along with your PAN < The PAN helps you in the payment of your invoices without deduction < The Indian government has the right to charge 30% or more of your invoiced payments in case you do not have a PAN
An identity or address proof < A copy of the Certificate of Incorporation < A copy of a No Objection Certificate issued by MCA (Ministry of Corporate Affairs)