Permanent Account Number

Mandatory Application for PAN

The following persons mentioned who have not been allotted PAN to apply to assessing officer within the time specified for allotment of PAN

Transactions which mandatorily require quoting of PAN:

Certain transactions which require mandatory quoting of PAN are stated hereunder (not exhaustive):

Points to remember:

  • A person must hold only one PAN Number. Obtaining or possessing of more than one PAN is against the law.

  • A person may apply for a duplicate PAN Card in case he has lost his original PAN Card. A duplicate PAN Card with the same PAN number shall be issued to the person.

  • It is not mandatory to file a ROI if PAN is obtained. If NRI is earning income below the taxable limit, he may not be required to file his ROI.

Frequently asked questions

What is PAN?


PAN is a ten-digit alphanumeric unique identifier, issued by Income Tax Department of India.

PAN is mandatory for transacting in financial markets in India. PAN enables the department to link all transactions of the person with the Tax Department.

These transactions include tax payments, TDS/TCS credits, ROI, specified transactions, correspondence and so on. PAN, thus, acts as an identifier for the person with the Tax department.




What procedure should be followed to apply for a PAN?


Application for PAN can be made online/manually in paper in the prescribed Form along with required proof of identity and address and a passport size photograph to the PAN Authority.

Further, in case of NRIs, there may be certain unique scenarios where documents may need attestation by the Indian Embassy/Consulate/High Commission/Apostille. In certain cases, an Individual can digitally signed the PAN Application by using a DSC.




A person doesn’t have PAN but undertakes transaction which requires to furnish the same. Is there an alternative?


Any person who does not have a PAN and who enters into any transaction specified in the rules, shall make a declaration in Form No. 60 giving therein the particulars of such transaction either in paper form or electronically under the electronic verification code in accordance with the procedures, data structures and the standards specified by the Principal Director General of Income-tax(Systems) or Director General of Income-tax(Systems).




Is a minor allowed to hold a PAN card?


Yes, a minor can hold a PAN card. The minor will have to apply through a representative assessee and will need additional documents to be submitted along with the PAN application form. Further, photograph of minor shall not be printed on the PAN card.




Who can apply on behalf of NRI, minor, lunatic, idiot, and court of wards?


Section 160 of the Act provides that a NRI, a minor, lunatic, idiot, and court of wards and such other persons may be represented through a Representative Assessee. In such cases, application for PAN can be made by the Representative Assessee.





 

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