Permanent Account Number(PAN)

PAN or Permanent Account Number is a ten-digit alphanumeric code generated by the India’s ‘Income Tax Department’

PAN is required by who conduct any kind of financial transaction in India. PAN is required if any person wish to enter the Indian Share Market. This is true for NRIs – Non Resident Indians living abroad too, who wish to make investment in India, buy property/house in India, open bank account, Demat account, rent out a property etc.

It is mandatory to quote PAN on return of income, all correspondence with any income tax authority. From 1 January 2005 it will be mandatory to quote PAN on challans for any payments due to Income Tax Department.

It is also compulsory to quote PAN in all documents pertaining to financial transactions notified from time-to-time by the Central Board of Direct Taxes. Some such transactions are sale and purchase of immovable property or motor vehicle or payments in cash, of amounts exceeding Rs. 25,000/-to hotels and restaurants or in connection with travel to any foreign country. It is also mandatory to mention PAN for obtaining a telephone or cellular telephone connection. Likewise, PAN has to be mentioned for making a time deposit exceeding Rs. 50,000/- with a Bank or Post Office or depositing cash of Rs. 50,000/- or more in a Bank.

Documents Required
Indian Citizen

Document acceptable as proof of identity and address as per Rule 114 of Income Tax Rules, 1962, for individual and HUF applicants

Sr. No. Proof of Identity (Copy of) Proof of Address (Copy of)
1 School Leaving Certificate 1 Electricity Bill*
2 Matriculation Certificate 2 Telephone Bill*
3 Degree of recognised educational institution 3 Employer Certificate*
4 Depository Account Statement 4 Depository Account Statement*
5 Bank Account Statement / Passbook 5 Bank Account Statement / Passbook*
6 Credit Card 6 Credit Card Statement*
7 Water Bill 7 Rent Receipt*
8 Ration Card 8 Ration Card
9 Property Tax Assessment Order 9 Property Tax Assessment Order
10 Passport 10 Passport
11 Voter Identity Card 11 Voter Identity Card
12 Driving License 12 Driving License
13 Certificate of identity signed by Member of Parliament or Member of Legislative Assembly or Municipal Councillor or a Gazetted Officer is required to file the same in prescribed format only. 13 Certificate of address signed by Member of Parliament or Member of Legislative Assembly or Municipal Councillor or a Gazetted Officer is required to file the same in prescribed format only.
Note :
In case of Minor, any of the above mentioned documents as proof of identity and address of any of parents/guardians of such minor shall be deemed to be the proof of identity and address for the minor applicant.

For HUF, an affidavit made by the karta of Hindu Undivided Family stating name, father’s name and address of all the coparceners on the date of application and copy of any of the above documents in the name of Karta of HUF is required.

Note :
1) Proof of Address mentioned in Sr. No. 1 to 7 (*) should not be more than six months old on the date of application.
2) Proof of Address is required for residential address mentioned in item no. 5.

Document acceptable as proof of identity and address as per Rule 114 of Income Tax Rules, 1962 for other than individual and HUF applicants

Sr. No. Proof of Identity (Copy of) Proof of Address (Copy of)
1. Company Copy of Certificate of Registration issued by the Registrar of Companies.
2. Firm Copy of Certificate of Registration issued by the Registrar of Firms or copy of partnership deed.
3. Association of persons (Trust) Copy of trust deed or copy of certificate of registration number issued by Charity Commissioner.
4. Association of persons (other than Trusts) or Body of Individuals or Local authority or Artificial Judicial Person Copy of Agreement or copy of certificate of registration number issued by charity commissioner or registrar of cooperative society or any other competent authority or any other document originating from any Central or State Government Department establishing identity and address of such person.