Pancard

PAN (Permanent Account Number) is an identification number assigned to all taxpayers in India. PAN is an electronic system through which, all tax-related information for a person/company is recorded against a single PAN number. This acts as the primary key for the storage of information and is shared across the country. Hence no two tax-paying entities can have the same PAN.

Eligibility for PAN

PAN Card is issued to individuals, companies, non-resident Indians or anyone who pays taxes in India.

Types of PAN

Individual, HUF-Hindu undivided family, Company, Firms/Partnerships, Trusts, Society, Foreigners

Documents for PAN

PAN requires two types of documents. Proof of address (POA) and Proof of Identity (POI). Any two of the following documents should meet the criteria

Individual Applicant : POI/ POA- Aadhaar, Passport, Voter ID, Driving Licence

Hindu Undivided Family : An affidavit of the HUF issued by the head of HUF along with POI/POA details

Company registered in India : Certificate of Registration issued by Registrar of Companies

Firms/ Partnership (LLP) : Certificate of Registration issued by the Registrar of Firms/ Limited Liability Partnerships and Partnership Deed.

Trust : Copy of Trust Deed or a copy of the Certificate of Registration Number issued by a Charity Commissioner.

Society : Certificate of Registration Number from Registrar of Co-operative Society or Charity Commissioner

Foreigners : Passport PIO/ OCI card issued by the Indian Government Bank statement of the residential country Copy of NRE bank statement in India

Why do you need PAN

PAN is a unique identification number that enables each tax-paying entity of India with the following:

Proof of Identity, Proof of Address, Mandatory for Filing Taxes, Registration of Business, Financial transactions, Eligibility to open and operate Bank Accounts, Phone Connection, Gas Connection, Mutual Fund : PAN is beneficial to complete e-KYC for mutual fund investments.