PAN or Permanent Account Number is a 10 digit alpha-numeric identity issued by the Income Tax Department of India. It is a unique account number allocated by the Income Tax Department, which is used to track and manage all the Income Tax assessee in India.
Although the PAN card application is voluntary, it must be obtained before engaging in certain transactions. For entering into a financial transaction exceeding a specified amount, quoting PAN is compulsory. Also, every business entity must apply for PAN card application within the 30 days of its formation or incorporation.
Advantages of PAN Card:
- Nationalized identity card
- Mandatory for filing ITR
- Compulsory for bank accounts
- For TDS and TCS transactions
- Mention PAN in specified cases
We at Wise Tax Filings make it easy and inexpensive to apply for your PAN card. With expert support along with timely and accurate filings, we have made it hassle free for you to get started.
Documents Required for PAN application:
Address Proof
Copy of Aadhar Card or other address proof, in case of individual
Photograph
Two passport size photograph, in case of individual
Birth Certificate
Copy of Birth Certificate, in case of Minor
Proof from Parents
ID proof and Address proof of any of the parent
Certificate of Incorporation
CoI in case of company and LLP
Agreement
Agreement in case of LLP and Partnership Firm
Structure of PAN:
Alphabetical series from AAA to ZZZ
First three characters
Informs about status of assessee
Fourth Character
Fifth character of assessee’s last name
Fifth Character
Sequential numbers from 0001 to 9999
6th-9th Characters
Numeric check digit auto generated
Tenth Character
Apply PAN in 3 easy steps:
1. Answer quick questions
Pick a package that best fits your requirements. It takes less than 5 minutes to fill our questionnaire. Provide basic details & documents required for registration along with making payment.
2. Experts will be there to help
A relationship manager will be assigned to assist you for reconciliation of the information.
3. Your PAN is assigned.
It only takes 3 working days!
Day 1 – Collection
- Collection of required documents
Day 2 – 3 – Submission
- Preparation and verification of Application
- Handing the Application to Income Tax Authority
- Sharing acknowledgment receipt
Day 3 – 10 – Government Process
- Application processing by IT department
Frequently Asked Questions:
Who can apply for PAN card?
Any Indian citizen, including a minor, can apply for allotment of Permanent Account Number by furnishing valid proof and documents. Foreign individual or entity can also apply for PAN allotment.
Whether new business requires PAN card?
Yes, every business established in India must apply for PAN card online or offline within the 30 days of establishment. However, sole proprietorship firm does not need so as it does not have a separate identity from its owner.
In how much time is the Permanent Account Number (PAN) allotted?
Once the application for PAN Card is forwarded, generally it takes 5 – 7 working days for allotment of PAN. However, receipt of physical PAN card may take time.
More Questions? Our Experts are here to help, fill out the form on this page or
Call us at: 1800 123 0000 or Email us: hello@wisetaxfilings.com