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PAN Data Change / Updation

PAN Data Change / Updation

Rs.300/- all-inclusive

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Process involved in PAN Data Change / Updation

PAN Change Request Form

PAN Change Request Form is filled and submitted and payment is done in the following modes: (Demand Draft,Cheque,Credit Card / Debit Card,Net Banking) Name of the applicant and the acknowledgement number should be mentioned on the reverse of the demand draft / cheque.

ACKNOWLEDGMENT

On confirmation, an acknowledgement screen will be displayed. The acknowledgement consists of: A 15-digit unique acknowledgement number and other relevant details

MODE OF SUBMISSION OF DOCUMENTS

The acknowledgement duly signed, affixed with photograph (in case of ‘Individuals’) alongwith demand draft/cheque and relevant Documents to be submitted along with the application is to be sent to NSDL

Fresh PAN Card

a fresh PAN Card is issued within 15-20days to the assesee

PERMANENT ACCOUNT NUMBER (PAN)

Permanent Account Number (PAN) is a ten-digit alphanumeric number, issued in the form of a laminated card, by the Income Tax Department. A typical PAN is AABPS1205E. Pan Card/Number may be obtained by applying in the prescribed form 49 A. there are different forms prescribed for Pan Card.

Purpose of form
New pan Card Application for Indians – 49 A
New Pan Card for Foreigners – 49AA
Change in Pan Card – 49AB

NECESSARY TO HAVE PAN
It is mandatory to quote PAN on return of income, all correspondence with any income tax authority. it will be mandatory to quote PAN on challan for any payments due to Income Tax Department.?
It is also compulsory to quote PAN in all documents pertaining to the following financial transactions
Sale or purchase of any immovable property valued at five lack rupees or more.
Sale or purchase of a motor vehicle.
A time deposit, exceeding fifty thousand rupees, with a banking company
A contract of a value exceeding one lack rupees for sale or purchase of securities.
Opening a bank account.
Making an application for installation of a telephone connection (including a Cellular telephone connection)
Payment in cash for purchase of bank drafts or pay orders or bankers cheques for aggregating fifty thousand rupees or more with a bank during any at one day.
Payment in cash in connection with travel to any foreign country of an amount exceeding twenty-five thousand rupees at any one time.

While applying for PAN card, the applicant should provide
a)Proof of Identity (POI)
b) Proof of Address (POA)

FOLLOWING DOCUMENTS CAN BE USED AS POI and POA
1. Proof of Identity
Copy of any one of the following will serve as a proof of identity:
School leaving certificate
Matriculation certificate
Degree of recognized educational institution
Depository account statement
Valid Credit card
Bank account statement
Water bill
Ration card
property tax assessment order
Passport
Voter’s identity card
Driving license

2. Proof of Address
Copy of any one of the following will serve as a proof of address:
Electricity bill
Telephone bill
Depository account statement
Credit card statement
Bank account statement
Rent receipt
Ration card
Passport
Voter’s identity card
Property tax assessment order
Driving license

1. FOR CITIZEN OF INDIA LOCATED OUSIDE INDIA AT THE TIME OF APPLICATION FOR PAN
Proof of Identity – Copy of passport
Proof of address
Passport
Bank account statement in country of residence
NRE bank account statement

2. IN CASE OF FOREIGN CITIZEN LOCATED IN INDIA AT THE TIME OF APPLICATION FOR PAN
Proof of Identity
Copy of passport
Copy of Person of Indian Origin (PIO) card issued by Government of India?
Proof of address
Passport
Bank account statement in India
Residential permit issued by the State Police Authorities
Registration certificate issued by the Foreigner’s Registration Officer
Person of Indian Origin (PIO) card issued by Government of India
NRE bank account statement
Visa application to Indian authorities & Visa granted & appointment letter/contract from Indian Company & Certificate (in original) of address in India of applicant issued by authorized signatory of employer on employer’s letter head mentioning the PAN of the employer & copy of PAN card for the PAN mentioned in the employer’s certificate.

3. FOREIGN CITIZEN LOCATED OUTSIDE INDIA AT THE TIME OF APPLICATION FOR PAN
Proof of Identity
Copy of Passport
Other National ID attested by Indian Embassy/Consulate/High Commission/Apostille?
Proof of Address
Passport
Other National ID attested by Indian Embassy/Consulate/High Commission/Apostille
Bank account statement in country of residence, duly attested by Indian Embassy/High Commission / Consulate / Apostille in the country where applicant is located ?
1. Person of Indian Origin (PIO) card issued by Government of India??
2.NRE bank account statement

Having office of their own in India –Proof of Identity & Address
HUF – Any documents prescribed in case of individuals in respect of Karta of the HUF.
Company – Copy of Certificate of Registration issued by Registrar of Companies.
Firms – Copy of Certificate of Registration issued by Registrar of firms or Copy of Partnership deed.
AOP(Trusts) – Copy of trust deed or Copy of Certificate of Registration issue by Charity Commissioner.
AOP/BOI/Local Authority/Artificial juridical Person – Copy of agreement or Copy of Certificate of Registration issued by Charity Commissioner or Registrar of co-operative society or any other competent authority or any other document originating from any central or state government department establishing identity & address of such person.

Having no office of their own in India
Proof of Identity and Address
Copy of any of the following
a) Copy of registration certificate of the respective country duly attested by Indian Embassy/ Consulate/ High Commission/ Apostille in the country where applicant is located.
b)Copy of certificate of registration with the competent authority in India
c)Copy of approval issued by the competent authority in India
d)Copy of the accompanying documents along with the approval issued by competent authority in India
e)Copy of the application (duly acknowledged) made by the applicant before the competent authority in India
Frequently Asked Questions (FAQ’s)

What is a PAN number?
Full form of PAN is permanent account number. It is a unique identity number allotted to individuals and companies by the Indian tax department.

Why is PAN needed?
As per new regulatory norms, both resident & non-residents Indians; including international companies with or without any presence in India, are required to provide a copy of their PAN card while carrying financial or business transactions; like: opening bank accounts, paying bills, filing taxes, raising invoices, buying or selling real estate, etc to name a few.

Do I need to file taxes in India if I acquire a PAN number?
? If you do not make money in India then you don’t pay taxes here. Having a PAN does not necessarily means that you need to pay taxes. You only pay, if you accrue income in India.

what is the utility of PAN?
PAN enables the department to link all transactions of the assessee with the department. These transactions include tax payments, TDS/TCS credits, returns of income, specified transactions, correspondence and so on. It facilitates easy retrieval of information of assessee and matching of various investments, borrowings and other business activities of assessee.?

Do I have to renew it every year?
No. Once you get it, its good forever

In How many days Pan Card is received ?
It takes about 15 days to get a new PAN allotted. However, PAN can be obtained in around 5 days if application is made through Internet and processing fee paid through credit card

is there any TATKAL facility for PAN?
?No

Who has to sign the PAN application ie 49A/49AA?
?Application in Form 49A/49AA must be signed (left thumb impression in case of persons unable to sing) by : The applicant; or Karta in case of HUF; or Director of a Company; or Authorised Signaturee in case of Association of Persons, Body of Individuals, Local Authority and Artificial Juridical Person; or Partner in case of Firm/LLP; or Trustee; or Representative Assessee in case of Minor/deceased/idiot/lunatic/mentally retarded.

Feature’s of PAN Data Change / Updation

Proof Of Identity
The PAN card carries your photograph, name and address. Hence it serves as a nationally accepted
Tax Rebate
If you pay TDS (tax deducted at source), that cannot be counted without a PAN card and you may end up paying tax twice.
For Financial Transactions
With a valid PAN card, you can easily enter into different financial transactions. You can obtain landline and cell phone connection; you can open demat account; you can buy and sell property and share and much more
Why PAN Card Is Important For NRI?
If you are NRI, you can easily buy property or engage in business in India with the help of your PAN card without filing tax returns