PAN, TAN, TIN, PIN, MAPIN, UIN ...
These may sound like the jarring sound of vessels banging, but are actually just a few of the growing list of acronyms that the hapless Indian must reconcile with.
The PAN (Permanent Account Number) card is an important tool that the Government wants every Indian citizen to possess.
It helps the Government keep track of our investments, bank accounts, demat accounts, tax returns, tax payments, immovable property deals, credit card payments etc.
Without a PAN card, you cannot:
- File your return
- Pay any tax.
- Get credit for taxes deducted at source by others from payments made to you.
- Open a bank account.
- Open a demat account.
- Invest in units of mutual funds.
- It won’t be surprising if more Indians get themselves a PAN card than they do an election card.
Well, we have tolerated many such eccentric missives from the Government in the past, so we may as well equip ourselves to deal with this one too.
1) What is PAN?
Permanent Account Number (PAN) is a ten-digit alphanumeric number (5 alphabets, 4 numerical, 1alphabets) issued in the form of a laminated card, by an Assessing Officer of the Income Tax Department.
A typical PAN is AFRPP1595D
2) What is the purpose of having a Permanent Account Number (PAN)?
- It is mandatory to quote PAN on return of income, all correspondence with any income tax authority and challans for any payments due to Income Tax Department. It is also compulsory to quote PAN in all documents pertaining to economic or financial transactions notified from time-to-time by the Central Board of Direct Taxes.
- Some such transactions are sale and purchase of immovable property or motor vehicle or payments to hotels for bills or payments in cash, of amounts exceeding Rs. 25,000/-, in connection with travel to any foreign country.
- It is also mandatory to mention PAN for obtaining a telephone or cellular telephone connection.
- Likewise, PAN has to be mentioned for making a time deposit exceeding Rs. 50,000/- with a Bank or Post Office or depositing cash of Rs. 50,000/- or more in a Bank.
3) Is it compulsory to quote PAN on return of income?
Yes, it is compulsory to quote PAN on return of income.
4) Who must have
- All existing assesses or taxpayers or persons who are required to furnish a return of income, even on behalf of others , must obtain PA N.
- Any person, who intends to enter into economic or financial transactions where quoting PAN is mandatory, must also obtain PAN.
- The Assessing Officer may allot PAN to any person either on his own or on a specific request from such person.
5) Who are those persons who are not required to obtain or quote Permanent Account Number?
The following categories of persons are not required to obtain or quote PAN
1) Persons having only agricultural income and do not have any taxable income. Such persons will file a
declaration (Form 61) in respect of transactions where quoting of PAN is mandator.
3) Central Government, State Governments and Consular Offices in transactions in which they are the payers.
6) Where do I apply for a PAN?
In order to improve PAN related services, the Income Tax department has authorized UTI
Technology Services Ltd (UTITSL) to set up and manage IT PAN Service Centers in all cities or towns where there is
an Income Tax office. For convenience of PAN applicants in big cities, UTITSL has set up more than one IT PAN Service Center.
7) How do I find an IT
The location of an IT PAN Service Center in any city may be obtained from the local Income Tax Office
8) What services are provided by IT PAN Service Centers?
IT PAN Service Centers supply new PAN application forms (Form 49A), assist the applicant in filling out the form, collect the filled form and issue an acknowledgment slip.
After obtaining a PAN from the Income Tax
department, UTITSL will print the
PAN card and deliver it to the applicant.
9) What form is required to apply for a PAN? Can an application for PAN be made on plain paper?
PAN Applications can be made only on the new Form 49A which can be obtained from any IT PAN Service Center
cost of Rs. 5/- per form, or
you can also download the Form 49A from our website: http://www.pancard.utitsl.co.in
10) Can an application for PAN be made using the old Form 49A?
No, an application for a PAN can be made only on the new Form 49A revised by the Central Board of Direct Taxes on
May 29, 2003.
11) What documents and information must accompany the application for Form 49A?
Individual applicants will have to attach a recent, color, photograph (Stamp Size: 3.5 cms x 2.5 cms); any document listed in Rule 114 must be supplied as proof of identity and address; and the designation and code of the applicable Assessing Officer of the Income Tax department must be noted on the Form 49A.
12) Which documents can serve as proof of identity in the case of individual applicants, including minors and HUF applicants?
Any one of the following items: a copy of a school leaving certificate; matriculation certificate; degree of a recognized e
ducational institution; depository account; credit card; bank account; water bill; ration card; property tax assessme
nt order; passport; voter identity card; drivers license; a certificate of identity signed by an MP, an MLA, a Municipal Councilor or a Gazetted Officer.
In case the PAN applicant is a minor, any of above documents of any of the parents or guardian of such minor shall serve as proof of identity.
In case the PAN application is made on behalf of a HUF, any of above documents in respect of Karta of the HUF will serve as proof of identity.
13) What will be considered as a valid proof of address?
Any one of the following items: a copy of an electricity bill, telephone bill, depository account, credit card, bank account, ration card, employer certificate, passport, voter identity card, property tax assessment order, drivers license, rent receipt, a certificate of address signed by an MP, an MLA, a Municipal Councilor or a Gazetted Officer.
In case the PAN applicant is a minor, any of above documents of any of the parents or guardian of such minor shall serve as proof of address.
In case the PAN application is made on behalf of a HUF, any of above documents in respect of Karta of the HUF will serve as proof of address.
14) Which documents can serve as proof of identity and address for other applicants?
Any one of the following items:
- Copy of Certificate of Registration issued by the Registrar of Companies.
- Copy of Certificate of Registration issued by the Registrar of Firms.
- Copy of Partnership Deed.
- Copy of Trust deed.
- Copy of Certificate of Registration Number issued by the Charity Commissioner of the Registrar of Co-operative Society.
- Any other competent authority or any other document originating from any Central or State Government Department establishing identity and address of such person.
15)How do I to find an Assessing Officer code?
The Assessing Officer code may be obtained from the Income Tax Office where you submit your return of income. Applicants who have never filed a return of income may find an Assessing Officer code with the help of an IT PAN Service Center or jurisdictional Income Tax Office. In either scenario, the PAN application must state an Assessing Officer code, or your application cannot be processed.
16) Is a photograph compulsory for making an application for PAN?
A photograph is compulsory only in the case of individual applicants.
17) What is the procedure for applicants who cannot sign?
In such cases, the left hand thumb impression of the applicant should be affixed on Form 49A at the place meant for signatures and it must be attested by either a Magistrate, a Notary Public or a Gazetted Officer, with an official seal and stamp.
18) Is listing my father’s name compulsory for all female applicants (including married/divorced/widow)?
Yes, all female applicants, irrespective of marital status, must indicate their father’s name on the PAN application.
19) Is it compulsory to mention a telephone number on Form 49A?
No, indicating your telephone number is not compulsory; however, it may enable faster processing of your application.
20) Who can apply on behalf of a non-resident, a minor, or an individual deemed mentally debilitated?
Section 160 of IT Act, 1961 provides that a non-resident, a minor, or an individual deemed mentally debilitated may be represented by a Representative Assessor. In such cases, an application for a PAN will be made by the Representative Assessor.
21) Can Form 49A be completed on a typewriter?
Yes, but the letters should be typed in CAPITAL letters and should be clearly legible.
22) What if I submit an incomplete Form 49A?
Your application will not be processed if it is incomplete. Your local IT PAN Service Center can assist applicants with any queries they may have.
23) How much does it cost to apply for a PAN card at an IT
UTITSL has been authorized to collect a service charge of Rs. 60/- per PAN coupon and Rs. 5/- towards the cost of the application form; which includes the cost of the new tamper proof PAN card. This amount must be paid in cash, or by a demand draft, at any IT PAN Service Center. This entitles you to a coupon containing a distinctive number that will have to be affixed to your Form 49A.
24) Do you need to apply for a new PAN when you move from one city to another?
A Permanent Account Number (PAN), as the name suggests, is a permanent number and does not change; however, you must notify your nearest IT PAN Service Center of an address change to ensure they have your most current information.
25) Can a person obtain or use more than one PAN?
No, obtaining or possessing more than one PAN is against the law.
26) Are PAN cards issued prior to July 1, 2003 still valid?
Yes, all PAN cards issued by the Department will remain valid. All persons who have been issued a PAN need not apply again.
27) The Income Tax Department has issued me a PAN card; can I obtain a new tamper proof PAN card?
In order to obtain the new tamper proof PAN card you must submit a new application on form 49A at your local IT PAN Service Center. You need to indicate your existing PAN on the form and surrender your old PAN card. The cost for this is Rs 60/-.
28) I have applied for a PAN and received my PAN number but have not received the actual PAN Card?
Apply afresh in Form 49A at any IT PAN Service Center quoting the PAN allotted to you.
29) I have applied for PAN but have not received any communication from the Income Tax Department?
In case you applied prior to notification of new form 49A on 29.5.2003 but have not received the PAN, you will have to apply afresh in new Form 49A at any IT PAN Service Center.
30) How will my PAN card be delivered to me?
UTITSL will ensure delivery of your PAN card by mail at the address indicated by you in form 49A.
Who can I contact for inquiries regarding PAN applications submitted after July 1, 2008?
All such inquiries should be addressed to:
The Vice President, IT PAN Processing Centre, UTI Technology Services Ltd, Plot No. 3, Sector - 11, CBD_ Belapur, NAVI Mumbai-400 614
Tel No. 022-67931300, Fax No. 022-67931099
Your PAN application number, coupon number and IT PAN Service Center where your application was submitted should be mentioned in all references.
Contact Information for NSDL
- Call TIN Call Centre at 022-2499 4650; Fax: 022-2495 0664
- e-mail us at: firstname.lastname@example.org
- Write to: National Securities Depository Limited, 1st floor, Times Tower, Kamala Mills Compound, Senapati Bapat Marg, Lower Parel (W), Mumbai - 400013.
Who and why need PAN?
Please not that Permanent Account Number (PAN) has become a very important tool to the Income Tax Department in tracking high value transactions and ensuring compliance with the tax laws.
31) Who need PEN Card
1. Every person, if his total income assessable during the previous year exceeds the maximum amount which is not chargeable to tax. Application should be submitted before May 31 of the assessment year.
2. Any person carrying on business or profession whose total sales, turnover or gross receipts are or is likely to exceed Rs. 5,00,000 in the previous year. Application should be submitted before the end of the accounting year.
3. A person (charitable trust) who is required to furnish return of income under sub-section (4A) of section 139. PAN should be obtained before the end of the accounting year.
4. An employer who is liable to furnish return of fringe benefit tax.
5. The Central Government has specified the following persons who shall apply to the Assessing Officer for allotment of permanent account number:
- Exporters and importers who are required to obtain an importer-exporter code under section 7 of Foreign Trade Act 1992. Application should be submitted before any export or import.
- Assessees as defined in rule 2(3) of the Central Excise Rules. Application should be submitted before applying for registration under the Central Excise Rules.
- Persons who issue invoice under rule 57E requiring registration under Central Excise Rules. Application should be submitted before applying for registration under the Central Excise Rules.
- Assesssees as defined in section 65(6) relating to the service tax. Application should be submitted before applying for registration under the Service Tax Rules, 1994.
- Persons who are registered under the Central Sales Tax Act or general sales tax law of a state or Union territory. Application should be submitted before applying under the Central Sales Tax Act or general sales tax law of State/Union territory.
32) When PEN Card Required:
- Operating demat accounts
- Deposit of Rs 50,000 and above in the banks
- Investments in shares, mutual funds and post office savings in excess of Rs 50,000 each
or purchase of motor vehicles, excluding two wheelers Sale or purchase of immovable properties valued at Rs 5 lakhs and above Sale
- Applying for a new telephone connection (landlines or mobile)
- Payment of Rs 25,000 or more against hotel bills
Please note : A person can have only one PAN and duplicate PANs, if any, must be surrendered. It is illegal to have duplicate PANs.
33)What is the Procedure to fill Form 49A
Keep the following points in mind when filling 49A form.
§ Use black ink only.
§ For individuals – please ensure that your signature does not flow out of the two boxes provided on the form.
§ A good quality, recent photograph (3.5 cm x 2.5 cm) must be stuck (not stapled or clipped) to the form.
§ Input only one character per box provided.
§ A tricky part is furnishing details of the assessing officer. If you have been filing tax returns, submit the details of the Assessing Officer with whom you have filled your last return. If not, find out the Assessing Officer code with the help of IT PAN Service Center or TIN Facilitation Center or from the jurisdictional Income Tax Office.
§ Your full name, including first, middle and surname must be filled in the Item no. 1 or the form will not be accepted.
§ Ladies – do not furnish husband’s name in Item no 4, it is meant for your father’s name only.
§ Salaried individuals need to give certain details of their employer in Item No 13(a).
§ If engaged in a certain business/ profession, you need to give certain details of the same in Item No. 13(b). Quote the appropriate number for your business/profession, the code numbers for which is mentioned in the form.
§ Item No 15 requires proof of identity and residence. As per Rule 114 of the Income Tax Rules, 1962, you can submit any of the following documents:
1. School Leaving Certificate
2. Matriculation Certificate
3. Degree of recognised educational institution
4. Depository Account Statement
5. Bank Account Statement / Passbook
6. Credit Card
7. Water Bill
8. Ration Card
9. Property Tax Assessment Order
11. Voter’s Identity Card
12. Driving License
13. Certificate of identity signed by a Member of Parliament or Member of Legislative Assembly, or a Municipal Councilor or Gazetted Officer
34) How to fill form 46A?
Submitting form 46A:
Once you have filled out your form, you need to submit it either to NSDL (National Securities Depositories Ltd) or to UTI-ISL (UTI Investor Services Ltd). For submitting the form, you need to pay fees of Rs. 67 (inclusive of service tax).
§ Fill and click submit.
§ Take a printout of the acknowledgement.
§ Affix recent colour photograph in the space provided.
§ Sign in the box provided.
§ Mail this, along with identity and address proof and the payment to NSDL/UTI-ISL.
§ You may also pay online using your credit card.
Upon receipt of the Form and the enclosures, you will get an acknowledgement.
Once your form is submitted, you can track its progress online at the following URLs: https://tin.tin.nsdl.com/tan/StatusTrack.html
To do this, you will need the Acknowledgement number printed on the acknowledgement issued to by NSDL/UTI-ISL.
If you have done your job right, you will now be allotted the much-coveted PAN card. Will be mailed to your address by post :-)
35) Where to send complaint regarding PAN?
A)PAN card application status -- Delay in sending PAN card>>
B) PAN card application status -- Not received PAN card>>
10/02/2009 * No PAN for saving account, insurance premium below 1 lakh http://www.indianexpress.com/news/no-pan-for-savings-account-insurance-premium-below-a-lakh/421494/