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The Permanent Account Number (PAN) is an account issued by the Department of the Income Tax. It is a 10-digit combination of numbers and alphabets and is unique to each individual. Having PAN card is mandatory in India; without its help, you can’t do any transactions in any bank or otherwise. The reason for its existence is because it serves an anchor for the government to track your various financial activities. This is done to make sure that all your transactions are recorded and also to prevent you to make any false transnational claims to avoid paying your full income tax. PAN Card is widely accepted as a Valid ID proof e.g. To enter into legal agreements, to apply for Loans, to open Bank Account etc.
There are primarily two forms that are to be filled for getting PAN card – 49A and 49AA. Also, if you want to rectify your PAN data like name, address etc., you will required to fill a form for that as well.
ADVANTAGES
• Valid Proof of Identity
• To Carry on business, to enter into Financial Transactions, for import or export business etc.
• For filing of Income Tax Return, it is very useful document.
DOCUMENTS COPY REQUIRED
• Aadhar Card
• Voter’s ID Card
• Driving License
• Passport
• Photograph of Authorized Signatory.
• Ration Card having Photograph.
• Arm’s License
• Shop Act/Certificate of Incorporation/any other registration certificate of business.
• Proof of Address-Electric Bill/Telephone Bill/Water Bill/Property Registration Document eg. Index II at the time of Purchase of Property/Employer Certificate in Original.
• First Page of Pass book with running entry page showing transactions within last 2 months/Bank Statement of last 2 months.
• Other Date of Birth Proof eg. Matriculation Certificate, Mark sheet of recognized board, Domicile Certificate issued by the Government.
If you want to apply for online PAN card Registration. Legal Raj is the best option to registered your PAN Card. Legal Raj expert helps you to apply and consult for PAN related issues. Legal Raj serving Services to Clients since the time of practises .