What is PAN |
Who should apply |
Why PAN is needed |
Correction in PAN |
Lost PAN card |
Documents required |
Documents for Corporates |
Why PAN is needed
1. For opening of Bank Accounts 2. For earning income and paying taxes in India 3. For getting business registered under GST or other registrars. 4. For selling and buying immovable property 5. For buying vehicles with more than 2 wheels 6. For paying in hotels in cash for more than Rs 25,000 at a time 7. For travelling to foreign Basically, in India PAN is a must hold document for every individual or business entity.
What is PAN
PAN stands for Permanent Account Number (PAN).
It is a ten-digit alphanumeric number, issued by the Income Tax Department of India. The PAN is issued to an individual or entity and it is valid across India. PAN once allotted is unaffected by a change of name, address within or across states in India or other factors.
Example of a PAN : ABCPD1432K
1st three characters are randomly assigned among AAA to ZZZ 4th character may be one of the following "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 5th character is the 1st letter of PAN holder's surname
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