About Income Tax Department Delhi Organisational Set-Up Indian Tax System Tax payer's Corner Countering Tax Evasion Forms and Publication FAQ on Tax Whats New ? Search Press Releases Site Map Feedback  
Frequently Asked Questions on Tax Income Tax Department, Delhi, India  
In this Module &glt; &glt;  

PAN

  

 

Q.What is the purpose of having a Permanent Account Number (PAN) under new series ?
Having a PAN helps you in dealing with the Income Tax Department as well as with other Govt. Organisations.

Q.What is PAN under new series ?

  • It is an all India, UNIQUE Number of 10 CHARACTERS allotted by the Income Tax Deptt.
  • It is PERMANENT for your life and will not change with change of your address or station or change of your Assessing Officer, etc.
  • PAN under the new series is being issued to replace old PAN or GIR No.

Q. How does a PAN look like ?
AAB P S 8791 R

Q.Who is expected to apply for PAN ?Top

  • Individuals
  • Hindu Undivided Families
  • Companies
  • Partnership Firms
  • Association of Persons
  • Body of individuals
  • Trusts
  • Artificial Juridical Persons
  • Representative Assessees

Q.Who must have a PAN ?

  • an Income Tax Payer, or
  • a person carrying on business or profession whose total sales or turnover or gross receipt exceeded Rs. 5 lakhs, or
  • a trust.
  • Any other person

Q.When to apply for PAN ?
Income of a particular financial year, is taxed in the subsequent year, called the Assessment Year. For example, income of the financial year 1998-1999 (i.e. 01/04/1998 to 31/03/1999) will be taxed in the Assessment Year 1999-2000. You have to apply for a PAN by the 30th June of the relevant Assessment Year.

Q.How to apply for a PAN ?Top

  • You may file an application in Form No. 49A, which is available at all Income-tax offices.
  • While making an application in Form 49A you must fill in your
    • FULL NAME (Initials must be expanded)
    • DATE OF BIRTH (in case of individuals)
    • DATE OF INCORPORATION or FORMATION, etc. (in case of companies or firms etc.)
    • FATHER'S FULL NAME (in case of individuals)
    • MARRIED LADIES SHOULD GIVE THEIR FATHER'S FULL NAME WITH EXPANDED INITIALS

Q. Where to apply ?

  • To your Assessing Officer, if already assessed to tax;
  • To the Assessing Officer dealing with new taxpayers, if you were not assessed to tax earlier;
  • Any Assessing Officer or his staff in Delhi, Mumbai and Chennai can allot you a PAN in a matter of few moments across the counter from his personal computer (PC).

Q.How will PAN under the new series be communicated ?

  • A letter intimating your PAN under the new series will be sent either by the Officer in-charge of the Computer Centre or your Assessing Officer.
  • If your application is incomplete or deficient, you will receive a DEFICIENCY LETTER or an INTIMATION CUM DEFICIENCY LETTER stating the shortcomings or defects in your application. PLEASE RESPOND IMMEDIATELY to enable us to allot a PAN to you.

Q.What will the PAN card contain ?Top
In case of

  • Individuals
    • PAN
    • Name
    • Date of Birth
    • Father's Name
    • Photograph and
    • Signature of PAN holder
  • Other Taxpayers
    • PAN
    • Name and
    • Date of Incorporation or Formation

Q. Can a person hold more than one PAN under new series ?
NO. A person can have only one PAN under the new series. If you have already been allotted a PAN under the new series, you cannot or shall not again apply for or obtain or possess another PAN. Failure in this regard shall result in imposition of penalty which shall not be less than Rs. 500/- but which may extend to Rs. 10000/- for each such failure or default.

Q.When is it Mandatory to quote the PAN ?
Every person to whom a PAN is alloted is required to quote the same in

  • all his returns to, and/or correspondence with, any Income Tax Authority;
  • all challans for payment of direct taxes;
  • application for opening an account with a Bank
  • application for installation of a telephone connection (including a cellular telephone)
  • documents pertaining to sale or purchase of a motor vehicle ;
  • documents pertaining to sale or purchase of immovable property valued at Rs. 5 lakhs or more; Top
  • documents pertaining to a time deposit exceeding Rs. 50,000/- with a Bank;
  • documents pertaining to deposits exceeding Rs. 50,000 in any account with a Post Office Savings Bank;
  • documents pertaining to a contract of a value exceeding Rs. 10 lakhs for sale or purchase of securities (shares, debentures etc.)
  • payment to hotels & restaurants against their bills for an amount exceeding Rs. 25,000/- at any one time; Every person receiving any document relating to above transactions referred to at (3) to (10) above shall ensure that Permanent Account Number has been duly quoted in the documents.
  • If tax is being deducted at source on payment of salary, rent, interest etc., it will be in your interest to give your PAN under the new series to the tax deductor so that the same could be mentioned in the TDS Certificate and Annual Return of TDS. This will help you in getting credit for taxes deducted at source.

Q.What if PAN under new series has not been allotted ?

  • A person can quote his General Index Register Number (GIR No.) till PAN under the new series is allotted to him.
  • In case of opening a Bank Account in the name of a minor who does not have any taxable income, the Permanent Account Number under the new series or GIR No. of his father or mother or guardian may be quoted.
  • Any person who has not been allotted a Permanent Account Number or who does not have GIR No. and who makes payment in cash or otherwise than by crossed cheque drawn on a Bank or through a credit card issued by a Bank, is required to file a declaration in Form No. 60.

Q.Who are those persons who are not required to obtain or quote Permanent Account Number ?Top

  • Persons having agricultural income and not having any other taxable income. They should, however, file a declaration in Form No. 61 in respect of transactions referred to at (3) to (10) above.
  • Non-residents
  • Central Govt., State Govts. and Consular Offices in transactions in which they are the payers.

Q.When is it mandatory to inform your Assessing Officer regarding your PAN ?
When there is change of :-

  • NAME on the basis of which the Permanent Account Number (PAN) was allotted
  • ADDRESS
  • NATURE OF THE BUSINESS
    You need not apply for a new PAN if your name is changed. However, you must apply for change of name along with documentary proof of such change.

When in case of :-

  • DEATH of a PAN holder
  • DISCONTINUATION OF BUSINESS
  • DISSOLUTION of a firm
  • PARTITION of a Hindu Undivided Family (HUF)
  • LIQUIDATION or WINDING UP of a company.
  • MERGER or AMALGAMATION or ACQUISITION etc. of companies.

Q.When must you apply for a fresh PAN under the new series ?
In case of :-

  • PARTITION of a bigger Hindu Undivided Family (HUF) into one or more new Hindu Undivided Families (HUF's)
  • Coming into being of a new HINDU UNDIVIDED FAMILY (HUF) .
  • CHANGE IN CONSTITUTION of a firm (entailing change of partners)
  • SPLITTING UP or DEMERGER of an existing company into two or more companies

Q.Do you need to apply for a PAN when you move from one city or state to another ?
You need not apply for a fresh PAN under the new series. You must, however, intimate your Assessing Officer for transfer of your PAN and other records to your new Assessing Officer. Top
General Questions | Income From Salary | Income from House Property |Income from Capital Gains | PAN |