Pan Card Apply Online
Permanent Account Number (PAN) is a unique 10-digit alphanumeric identity code that is issued under Section 130A of the Income-tax Act, 1961, by the Income Tax Department. It acts as an identification for individuals, families, and corporations, as well as Indians and foreigners, especially those who pay income tax. It is essential for every individual person to have a Pan Card because it is necessary for all the transactions of tax assessment, like paying tax, tax returns, and specified bank transactions where Pan has to be quoted. And it is easy to gain a PAN CARD; it is valid throughout India for the lifetime of the assessee.
Documents Required for PAN card Registration
- 2 recent passport size color photographs
- Identity proof (like-voter ID, Adhar Card)
- Address proof (like a telephone bill or electricity bill)
- Certificate of incorporation (ffor a company )
- Partnership deed (In case of Partnership)
- If you want a reprint (re-issue), then an old photocopy of a Pan Card is also required.
Benefits of PAN Card
- For payment of direct taxes
- For purchase or sell vehicles except for two-wheelers.
- For opening an account in a Bank, Post office or non-banking financial company.
- It is used for payment, which is more than $50,000 to any hotels or restaurant.
- To file income tax returns.
- To avoid deduction of tax at a higher rate than due.