What is PAN?

PAN (Permanent Account Number) is a ten-digit alphanumeric number assigned to taxpayers of the country by the Income Tax Department, unique to everyone. PAN is generally used by authorities to keep a record of all the financial activities of taxpaying individuals/entities in order to avoid tax evasion.

Anyone who applies for PAN is provided with a laminated PAN card which contains information about the taxpayer like name, date of birth, PAN number and address. Thus, a PAN card can also be used as an identity proof.

Types of PAN Cards

The sort of PAN card depends on the taxpayer who is applying for PAN. Following are the various types of PAN cards issued by the Income Tax department.

• PAN Card for Resident Individuals
• PAN Card for Foreigners
• PAN Card for Indian Companies
• PAN Card for Foreign Corporates

Eligibility for PAN

Any individual or company can apply for PAN, including HUF (Hindu Undivided Family), trust, firm, co-operative Society and non-resident Indians who pay their taxes in India.

Documents needed for PAN

For residential individuals, three types of documents are required to apply for PAN, proof of identity, proof of address and proof of date of birth. Any three of the following will serve the purpose.

• Aadhaar Card
• Voter ID Card
• Ration Card with the applicant’s photo
• Passport
• Driving License
• Arms’ License
• Pensioner’s Card with the applicant’s photo
• ID Card issued by the central government, state government or any other public sector undertaking
• Bank Certificate with attested photograph and bank statement
• Central government health scheme card

For residential HUFs, an affidavit issued by the head of HUF along with proof of identity, address and date of birth is necessary to apply for PAN. Any three of the above-mentioned documents for residential individuals can be used as proofs.

For non-residential individuals and HUFs, non-citizens of India and foreigners paying taxes in India only have to submit proof of identity and address. The following is a list of acceptable documents, any two is required.

• Passport
• PIO/ OCI card issued by the Indian government
• Bank statement of the residential country
• Non-resident external bank account statements in India

For companies, firms, LLPs, trusts and societies, proof of identity and proof of address is required. Here a list of documents that can serve both the purposes.

Company

• Copy of certificate of registration issued by the registrar of companies

Partnership Firm

• Copy of certificate of registration issued by the registrar of firms
• Copy of partnership deed

Limited Liability Partnership

• Copy of certificate of registration issued by the registrar of LLPs

Trust

• Copy of trust deed
• Copy of certificate of registration number issued by charity commissioner

Society

• Certificate of registration number from the registrar of co-operative society or charity commissioner

Easy PAN Application for LLPs & Companies

The easiest way to get PAN for your business is just by opting for any of the business incorporation plans, offered by us at LEGAX. We cover everything you need to start. 

For Limited Liability Partnership, here’s what you get,

1. DSC (Digital Signature Certificate) – Before anything, digital signatures of you and your partner/s are required. This is because the filing of documents for LLP registration is done online and are required to be signed digitally.
2. Company Name Approval Form (RUN-LLP) – The proposed name of the LLP will be reserved after checking it for availability on the MCA portal and approval from the registrar. Once approved, LLP-RUN (Limited Liability Partnership-Reserve Unique Name) Form will be filed which shall be processed by the Central Registration Centre.
3. DPIN (Designated Partner Identification Number) – DPIN for all the designated partners of the LLP will be provided after application through DIR-3 form.
4. FiLLiP (Form for incorporation of Limited Liability Partnership) – This form will be filled for the incorporation of the LLP with the registrar who has jurisdiction over the state in which the registered office is located.
5. COI (Certificate Of Incorporation) – After verification of the documents, the registrar will mail the COI to all the designated partners of the LLP.
6. Drafting of LLP Deed – Post arrival of COI, a deed will be drafted by filing Form 3 online on the MCA portal, stating the role, responsibilities, rights, duties, powers, etc of the partners along with other legal agreement among them, all within 30 days of the date of incorporation.
7. Tax Deduction and Collection Account Number (TAN) and Permanent Account Number (PAN) registration – Finally, application for TAN and PAN will also be filed for the registered LLP.

For Private Limited Companies, here’s what you get,

1. 1. DSC (Digital Signature Certificate) – Before anything, digital signatures of you and your partner/s are required. This is because the filing of documents for LLP registration is done online and are required to be signed digitally.
   2. Company Name Approval Form (RUN) – RUN (Reserve Unique Name) form will be filed for reservation of the proposed name of the company. After approval from the CRC (Central Registration Centre), the name will be reserved.
   3. DIN (Director Identification Number) – DIN for all the directors of the company will be provided after application through DIR-3 form.
   4. Filing of SPICe Form for Incorporation of Company – Incorporation of the company will be made through SPICe (Simplified Proforma for Incorporating Company Electronically) which will serve us four purposes –
      • Application for allotment of DIN (Director Identification Number)
      • Reservation of company name
      • Incorporation of a new company
      • Application for PAN and TAN
   5. Tax Deduction and Collection Account Number (TAN) and Permanent Account Number (PAN) registration – Application for TAN & PAN will be made through SPICe Form.
   6. COI (Certificate Of Incorporation) – After verification of the documents, the registrar will mail the COI to all the designated directors of the company.

Click here to check out our plan for PLC and the documents required.

Top 5 Benefits of having a PAN Card

1. 1. Filing ITR (Income Tax Return) – The primary purpose of PAN Card is to file for ITR once an individual/entity becomes eligible to pay income tax returns. A PAN Card also helps you bypass tax deductions and claim Income Tax Refund.
      If you are a salaried individual, trader, business or NRI, looking out for a one stop solution for your ITR filing, then go nowhere. We at LEGAX will do all the work on your behalf. Check out our plans by clicking here.
   2. Identity and Address Proof – Other than Aadhaar Card, Voter ID, Passport and Driving License, PAN Card is also accepted as identity and address proof at many institutions across the country.
   3. Opening Bank Account – PAN card has been made mandatory at many public, private and co-operative banks for opening a savings or current account. Moreover, PAN must be linked with a bank account to claim an Income Tax Refund.
   4. Purchase & Sale of Immovable Assets – Quoting Permanent Account Number (PAN) has been made mandatory for Individuals/entities engaging into transactions involving the purchase or sell of property for an amount exceeding Rs 10 lakh.
   5. Starting a Business – Companies, firms or any other entity now has to have a PAN linked to its name. Moreover, TRN (Tax Registration Number) can only be obtained through PAN, which is necessary in order to start a business.

Some other benefits are,

• Opening of DEMAT Account for trading and investing in the stock market.
• Phone Connection
• Gas Connection
• Mutual Funds
• Financial transactions like foreign travel, time deposit, hotel and restaurant bills, etc.

Structure of a PAN Card

A PAN Card contains the following information about the individual or entity.

• Name – The name of the cardholder that is the individual or company.
• Father’s Name – Name of the individual’s father is mentioned here, only applicable to individual cardholders.
• Date of Birth – The individual’s date of birth or the registration date in case of a company.
• Permanent Account Number – A unique 10-digit alphanumeric number for every cardholder, individual or company.
• Card Holder’s Signature – PAN card can also be used as proof of the individual’s signature for financial transactions.

Card Holder’s Photo – PAN Card can be used as proof of identity for individuals, however in case of companies, no photograph is present on the card.

Validity of PAN

There is no expiry date on PAN. Once availed, it’s valid for a lifetime

If you want to check your PAN validity status online then visit Income Tax e-Filing homepage (https://www.incometaxindiaefiling.gov.in/home). Find ‘Know Your PAN’ link from the ‘Services’ menu, available on the left and complete the rest of the process.

Online PAN Application

• Visiting the official PAN – NSDL/UTIITSL website
• Fill the form 49A or 49AA for (Indian/Foreigner) with your details.
• Submit the required documents.
• Pay the processing fee.
• PAN will be dispatched within 15 days.

Application for PAN can be made online through the following steps –

What is PAN?

PAN (Permanent Account Number) is a ten-digit alphanumeric number assigned to taxpayers of the country by the Income Tax Department, unique to everyone. PAN is generally used by authorities to keep a record of all the financial activities of taxpaying individuals/entities in order to avoid tax evasion.

Anyone who applies for PAN is provided with a laminated PAN card which contains information about the taxpayer like name, date of birth, PAN number and address. Thus, a PAN card can also be used as an identity proof.

Types of PAN Cards

The sort of PAN card depends on the taxpayer who is applying for PAN. Following are the various types of PAN cards issued by the Income Tax department.

• PAN Card for Resident Individuals
• PAN Card for Foreigners
• PAN Card for Indian Companies
• PAN Card for Foreign Corporates

Eligibility for PAN

Any individual or company can apply for PAN, including HUF (Hindu Undivided Family), trust, firm, co-operative Society and non-resident Indians who pay their taxes in India.

Documents needed for PAN

For residential individuals, three types of documents are required to apply for PAN, proof of identity, proof of address and proof of date of birth. Any three of the following will serve the purpose.

• Aadhaar Card
• Voter ID Card
• Ration Card with the applicant’s photo
• Passport
• Driving License
• Arms’ License
• Pensioner’s Card with the applicant’s photo
• ID Card issued by the central government, state government or any other public sector undertaking
• Bank Certificate with attested photograph and bank statement
• Central government health scheme card

For residential HUFs, an affidavit issued by the head of HUF along with proof of identity, address and date of birth is necessary to apply for PAN. Any three of the above-mentioned documents for residential individuals can be used as proofs.

For non-residential individuals and HUFs, non-citizens of India and foreigners paying taxes in India only have to submit proof of identity and address. The following is a list of acceptable documents, any two is required.

• Passport
• PIO/ OCI card issued by the Indian government
• Bank statement of the residential country
• Non-resident external bank account statements in India

For companies, firms, LLPs, trusts and societies, proof of identity and proof of address is required. Here a list of documents that can serve both the purposes.

Company

• Copy of certificate of registration issued by the registrar of companies

Partnership Firm

• Copy of certificate of registration issued by the registrar of firms
• Copy of partnership deed

Limited Liability Partnership

• Copy of certificate of registration issued by the registrar of LLPs

Trust

• Copy of trust deed
• Copy of certificate of registration number issued by charity commissioner

Society

• Certificate of registration number from the registrar of co-operative society or charity commissioner

Easy PAN Application for LLPs & Companies

The easiest way to get PAN for your business is just by opting for any of the business incorporation plans, offered by us at LEGAX. We cover everything you need to start. 

For Limited Liability Partnership, here’s what you get,

1. DSC (Digital Signature Certificate) – Before anything, digital signatures of you and your partner/s are required. This is because the filing of documents for LLP registration is done online and are required to be signed digitally.
2. Company Name Approval Form (RUN-LLP) – The proposed name of the LLP will be reserved after checking it for availability on the MCA portal and approval from the registrar. Once approved, LLP-RUN (Limited Liability Partnership-Reserve Unique Name) Form will be filed which shall be processed by the Central Registration Centre.
3. DPIN (Designated Partner Identification Number) – DPIN for all the designated partners of the LLP will be provided after application through DIR-3 form.
4. FiLLiP (Form for incorporation of Limited Liability Partnership) – This form will be filled for the incorporation of the LLP with the registrar who has jurisdiction over the state in which the registered office is located.
5. COI (Certificate Of Incorporation) – After verification of the documents, the registrar will mail the COI to all the designated partners of the LLP.
6. Drafting of LLP Deed – Post arrival of COI, a deed will be drafted by filing Form 3 online on the MCA portal, stating the role, responsibilities, rights, duties, powers, etc of the partners along with other legal agreement among them, all within 30 days of the date of incorporation.
7. Tax Deduction and Collection Account Number (TAN) and Permanent Account Number (PAN) registration – Finally, application for TAN and PAN will also be filed for the registered LLP.

For Private Limited Companies, here’s what you get,

1. 1. DSC (Digital Signature Certificate) – Before anything, digital signatures of you and your partner/s are required. This is because the filing of documents for LLP registration is done online and are required to be signed digitally.
   2. Company Name Approval Form (RUN) – RUN (Reserve Unique Name) form will be filed for reservation of the proposed name of the company. After approval from the CRC (Central Registration Centre), the name will be reserved.
   3. DIN (Director Identification Number) – DIN for all the directors of the company will be provided after application through DIR-3 form.
   4. Filing of SPICe Form for Incorporation of Company – Incorporation of the company will be made through SPICe (Simplified Proforma for Incorporating Company Electronically) which will serve us four purposes –
      • Application for allotment of DIN (Director Identification Number)
      • Reservation of company name
      • Incorporation of a new company
      • Application for PAN and TAN
   5. Tax Deduction and Collection Account Number (TAN) and Permanent Account Number (PAN) registration – Application for TAN & PAN will be made through SPICe Form.
   6. COI (Certificate Of Incorporation) – After verification of the documents, the registrar will mail the COI to all the designated directors of the company.

Click here to check out our plan for PLC and the documents required.

Top 5 Benefits of having a PAN Card

1. 1. Filing ITR (Income Tax Return) – The primary purpose of PAN Card is to file for ITR once an individual/entity becomes eligible to pay income tax returns. A PAN Card also helps you bypass tax deductions and claim Income Tax Refund.
      If you are a salaried individual, trader, business or NRI, looking out for a one stop solution for your ITR filing, then go nowhere. We at LEGAX will do all the work on your behalf. Check out our plans by clicking here.
   2. Identity and Address Proof – Other than Aadhaar Card, Voter ID, Passport and Driving License, PAN Card is also accepted as identity and address proof at many institutions across the country.
   3. Opening Bank Account – PAN card has been made mandatory at many public, private and co-operative banks for opening a savings or current account. Moreover, PAN must be linked with a bank account to claim an Income Tax Refund.
   4. Purchase & Sale of Immovable Assets – Quoting Permanent Account Number (PAN) has been made mandatory for Individuals/entities engaging into transactions involving the purchase or sell of property for an amount exceeding Rs 10 lakh.
   5. Starting a Business – Companies, firms or any other entity now has to have a PAN linked to its name. Moreover, TRN (Tax Registration Number) can only be obtained through PAN, which is necessary in order to start a business.

Some other benefits are,

• Opening of DEMAT Account for trading and investing in the stock market.
• Phone Connection
• Gas Connection
• Mutual Funds
• Financial transactions like foreign travel, time deposit, hotel and restaurant bills, etc.

Structure of a PAN Card

A PAN Card contains the following information about the individual or entity.

• Name – The name of the cardholder that is the individual or company.
• Father’s Name – Name of the individual’s father is mentioned here, only applicable to individual cardholders.
• Date of Birth – The individual’s date of birth or the registration date in case of a company.
• Permanent Account Number – A unique 10-digit alphanumeric number for every cardholder, individual or company.
• Card Holder’s Signature – PAN card can also be used as proof of the individual’s signature for financial transactions.

Card Holder’s Photo – PAN Card can be used as proof of identity for individuals, however in case of companies, no photograph is present on the card.

Validity of PAN

There is no expiry date on PAN. Once availed, it’s valid for a lifetime

If you want to check your PAN validity status online then visit Income Tax e-Filing homepage (https://www.incometaxindiaefiling.gov.in/home). Find ‘Know Your PAN’ link from the ‘Services’ menu, available on the left and complete the rest of the process.

Online PAN Application

• Visiting the official PAN – NSDL/UTIITSL website
• Fill the form 49A or 49AA for (Indian/Foreigner) with your details.
• Submit the required documents.
• Pay the processing fee.
• PAN will be dispatched within 15 days.

Application for PAN can be made online through the following steps –