PAN or Permanent Account Number is a unique, 10-character, alpha-numeric identifier, issued in the form of a Card by the Income Tax Department. It maps all the financial data of a person/entity.

Why is PAN Required?

Obtaining a PAN Card is voluntary, but is mandatorily required to report income, pay tax, transact in Property, purchase and sell Shares, open Bank Accounts, purchase Foreign Currency, jewellery, etc. It is also used widely as an identity proof.

Application Process

  • Form 49A is required in case there is a Change/Correction in PAN.
  • Form 49A is required to be filled by Indian Citizens, Entities incorporated in India, Indian Companies and Unincorporated entities formed in India.
  • Form 49AA is for Foreign Citizens.

Documents Required

The applicant is required to submit the following documents with the relevant application form:

  • Proof of identity (POI)
  • Proof of address (POA)
  • Certificate of Incorporation in case of Registered Entities.
  • Deed/Agreement in case of Unregistered Entities.