You could lose as much as 20% without a PAN

We’ve repeated this so often – Get yourself a PAN card if you wish to make the most of your financial transactions in India. Here, we present a brief on a news item of the month of January, 2010. This news piece effectively captures the essence of having a PAN card in India. The Government… Read More »

PAN related FAQs

1. I need to file return on income. Is a PAN necessary? Section 272B of Income Tax Act, 1961 defines that PAN needs to be quoted while filing income returns. Otherwise, a penalty of Rs 10,000 can be imposed. 2. How does the quotation of PAN on concerned transactions get ensured by the Income Tax… Read More »

I am a Foreign National, applying for PAN, and currently in India. What documents do I need?

For address proof, a copy of any of these documents will be needed. Passport’s photocopy A print out of bank account statements, bank account being in India. Residential Permit. This document is issued by State Police Authorities Registration Certificate. This is issued by Foreigner’s Registration Officer. Indian Government’s PIO card, means a copy of Person… Read More »

The Online Verification Process of PAN

Online verification of PAN is very convenient to do; one has just got to visit the following link and fill in some details that are mentioned on the PAN card. The link is:- The details include your name, father’s name, and the D.O.B. PAN applicants can make use of this great service from the… Read More »

The Legal Framework Around PAN

The section 139A from the Income Tax Act, 1961 lays out the answers to all legal questions that can be asked about the functioning of PAN card, right from the application for the same, to the penalty of using multiple PANs. The section defines as to who can apply for a PAN card, what all… Read More »

What Is The Role Of IT PAN Service Centres

In a country as large and populous as India, it is extremely difficult for one agency to collect applications, process them, and issue PAN cards. The income tax department is responsible for issue of Permanent Account Number (PAN). However, the department has authorized the UTI Infrastructure and Technology Services Limited (UTITSL) and National Securities Depository… Read More »