What is PAN Card?

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What is PAN Card?

Section 139A(1) casts an obligation on every person whose total income or the total income of any other person in respect of which he is assessable, exceeds the maximum amount which is not chargeable to tax and he is already not holding any Permanent Account Number, to apply the assessing officer for allotment of Permanent account number( PAN), in the prescribed form.

Documents Required to obtain PAN

  1. Any person carrying on business or profession whose total sales, turnover or gross receipts are or is likely to exceed 5,00,000 in any previous year and who has not been allotted any Permanent Account number.
  2. Any person, who is required to furnish return of income under section 139(4A).
  3. Any person being an employer who is requited to furnish a return of fringe benefits under section 115WD.
  4.  Any other person can also apply for a PAN.

Procedure for applying Permanent Account number

  1. Application Form:  Applicant has to fill form no:49A. They can obtain PAN form from any stationery vendor or can download from TIN website www.tin-nsdl.com.
  2. Applicant has to pay a nominal fee of 85 (service tax as applicable)
  3. Form should be accompanied by proof of identity, address and date of birth.

 

By |2016-11-15T17:35:55+05:30November 27th, 2012|0 Comments

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