A permanent account number (in short called as PAN) is a vital document for any taxpayer. It is a 10-character alphanumeric number consisting of letter and digits. PAN card requirements are detailed in the Income Tax Act of 1961. This number is unique to each cardholder and helps identify the income tax payer. It is required for individuals, partnerships and companies. It also serves as an identity proof from a large number of purposes.
Any corporate body doing business in India requires a PAN card whether it is registered in India or abroad. Equally, an individual or entity which is engaged in a business with an Indian firm/entity requires a PAN card. It is also required for anybody who is involved in generating money out of India whether the company is registered, or has a permanent establishment, or an office in India. Given below is a list of the bodies that are required to hold a PAN card in India.
- Body Corporate
- Partnership Firms
- Individuals/proprietorship firms
- Trusts and Societies
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- Identity and Address Proof of individual applicant: For individuals – Identity proof and address proof documents like passport, driving license, Aadhar card or voters identity card must be submitted for all the applicant. For Non individuals – Proof of business registration like incorporation certificate or partnership deed or registration certificate must be submitted for all types of registered entities
- Proof of Date of birth : proof of date of birth like birth certificate, Matric pass certificate must be submitted for all the applicants.