Permanent Account Number (PAN)

PAN, or permanent account number, is a unique 10-digit alphanumeric identity allotted to each taxpayer by the Income Tax Department under the supervision of the Central Board of Direct Taxes. It also serves as an identity proof. PAN is mandatory for financial transactions such as receiving taxable salary or professional fees, sale or purchase of assets above specified limits, buy mutual funds and more.

The primary objective of PAN is to use a universal identification key to track financial transactions that might have a taxable component to prevent tax evasion.

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Advantages of PAN

  • Unique id in INDIA
  • Easy registration
  • Nationwide acceptance as a valid id proof
  • Mandatory for major financial transaction
  • Mandatory for filing Income Tax Return
  • TDS benefits

Documents Required

For individual

  • Passport size photograph
  • Identity proof
  • Aadhar card of applicant

For Hindu undivided family

  • Passport size photograph of Karta
  • A declaration signed by the Karta of the HUF stating the name, father's name and address of all the HUF members
  • Copy of any of the above listed proof documents of the member who is supposed to act as the Karta of the Hindu Undivided Family

For company registered in INDIA

  • Copy of Registration Certificate issued by the Registrar of Companies

For firm including LLP

  • Copy of Registration Certificate issued by the Registrar of Limited Liability Partnerships or;
  • Copy of partnership deed

For trust registered in INDIA

  • Copy of deed of Trust
  • Copy of Certificate of Registration Number issued by Charity Commissioner

For association of person

  • Agreement copy
  • Copy of Certificate of Registration Number issued by Charity Commissioner or Registrar of Co-operative Society or any other Competent Authority; or
  • Any other document originating from any Central Government or State Government Department establishing Identity and address of such person.