Things You Should Know Before Applying For PAN

PAN i.e., Permanent Account Number is an alphanumeric number by which the Assessing Officer can identify any person. Presently the Income Tax Department is allotting PAN under the New Series to all assessee which consists of ten alphanumeric characters and is issued in the form of a laminated card. The PAN is ultimately meant to supplant the General Index Register Number which is currently in use. The General Index Register Number is a number given an Assessing Officer to the assessee in the General Index Register maintained by him which also contains the designation and the particulars of the Assessing Officer.

Persons to whom provisions of section 139A shall not apply: -
The provisions of section 139A shall not apply to following class or classes of persons, namely:-

1. The persons who have agricultural income and are not in receipt of any other income chargeable to income-tax. Such persons shall instead be required to make a declaration in Form No. 61 in respect of transactions referred to in clauses (a) to (h) of rule 114B of Income Tax Rules.
2. Non-residents referred to in clause (30) of section 2 of Income tax Act, 1961
3. A non resident, who enters into any transaction referred to in clauses (a) to (h) of rule 114B, shall have to furnish a copy of his passport.

As per section 139A of the Act obtaining PAN is a must for the following persons: -
1. Any person whose total income or the total income of any other person in respect of which he is assessable under the Act exceeds the maximum amount which is not chargeable to tax.

2. Any person who is to carry on any business or profession whose total sales, turnover or gross receipts are or is likely to exceed Rs. 5 lacks in any previous year.

3. Any person who is required to furnish a return of income under section 139(4) of the Act.

• The requirement for applying for allotment of PAN under the New Series has now been extended to the whole of India.
• PAN is required to be quoted in all the transactions mentioned below:-

• In all returns and in all correspondence with the department.
• In all challans for payment of any tax or sum due to the department.
• In certain notified transaction.

4. In the case of companies, the information that is necessarily required is as under:

• Date of Incorporation
• Registration Number.
• Date of commencement of the business
• Full and complete names of at least two directors of the company
• Branch addresses and branch names of the company.

Points to be taken care of while applying PAN -

• Application form must be typewritten or handwritten in black ink in BLOCK LETTERS.
• Two black & white photographs are to be annexed.
• While selecting the “Address for Communication”, due care should be exercised as all communications thereafter would be sent ate indicated address.
• In the space given for “Father’s Name”, only the father’s name should be given. Married ladies may note that husband’s name is not required and should not be given.
• Due care should be exercised to fill the correct date of birth. The form should be signed in English or any of the Indian Languages in the 2 specified places. In case of thumb impressions attestation by a Gazette Officer is necessary.

The form should be filled in carefully and completely since it may not be possible for the Department to allot PAN if all the details are not filled in. In any case the following information must necessarily be given:-

Unless the form no.49A contains all the above information it would not be possible to allot the PAN to a company assessee.

In the case of individuals, the information that is necessarily required is as under:

• Full and complete name of the assessee
• Full and complete name of his/her Father.
• Date of birth
• Sources of income

Unless the form no.49A contains all the above information’s it would not be possible to allot the PAN to an individual assessee.

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