Recently Indian income tax department insisted representatives of non resident Indians and foreign investors using P.A.N (Permanent Account Number) numbers to file returns on their behalf. The non-residents who are filing the Return of Income may be allotted PAN by the Assessing Officer under section 139A(2) of the Income-tax Act. However, if PAN is not allotted he should apply to obtain PAN.

Issued by Income Tax Office, PAN is a national identification number, given to all taxpayers of India. Holders can bring this number into use for a number of activities such as opening an account, to get a phone connection, property deals, receiving salary or professional fees.

PAN aims at preventing tax evasion by keeping a track record of monetary transactions. Moreover, it’s another advantage lies in its being national and permanent and unaffected by a change of address, even among states. A person holding PAN may take it as his/her social security number.

All existing assesses or taxpayers or persons who are required to furnish a return of income, even on behalf of others, must obtain PAN. Getting a PAN card has nowadays become a simple process and can be applied at a single click of a button. All you require is to submit the particulars and paying PAN Card charges of Rs. 1,000/-. And, get your PAN card within 6 working days.

Following are the particulars you require to submit to get a PAN Card. It includes

• Full Name (initials must be expanded)
• Date of Birth (in case of individuals)
• Date of incorporation or company formation (in case of companies or firms etc.)
• Father's full name (in case of individuals). Married women should also give their father's full name with expanded initials.
• Mailing Address

Outlined below are Frequently Asked Questions on PAN which you may consult to clear your doubts regarding the same:

Q. What is PAN under new series?

PAN under the new series is an all India, is allotted by the Income Tax Department. It is a 10 digit number issued in the form of a laminated card. It is permanent, and will remain ineffective with change of address of the assessee or change of Assessing Officer.

Q. Where to apply for a PAN CARD?

You can apply for a PAN card to your assessing officer, in case you are already assessed to tax.

If it is another way around, you (non tax payers) can approach to the Assessing Officer dealing with new tax payers.

Q. What Does a PAN CARD show?

Your PAN CARD contains:-

• PAN
• Name
• Date of Birth
• Father’s Name
• Photograph
• Signature

However, the same particulars are not shown in PAN Card of other taxpayers. Theirs include:

• PAN
• Name and
• Date of Incorporation or Formation

Q. Can a person hold more than one PAN under new series?

No person is issued more than one PAN under the new series. If you already hold a PAN, you can’t be allotted or apply for another new one. Everyone is abided by the rule and regulations laid for the PAN card holders. Defaulters will have to pay a penalty of Rs. 500/- which may extend to Rs. 1,000/-.

Q. Is it necessary to inform your accessing officer regarding PAN?

YES, it is in special cases which include:

When change of name:

• NAME on the basis of which the Permanent Account Number (PAN) was allotted
• ADDRESS
• NATURE OF THE BUSINESS:
  As such, you are not needed to apply for a new PAN in case 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. Is there no situation under which a person already holding a PAN Card can get a new one?

Getting a new PAN Card is allowed in case of:

• PARTITION of a big 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 of a company into two or more companies.

Q. Is applying for a PAN Card necessary when migrating from one city to another?

No. Income Tax Department eliminates the need for you to apply for a fresh PAN under the new series, if moving from one city to another. However, you must intimate your Assessing Officer for transfer of your PAN and other records to your new Assessing Officer.

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