Permanent Account Number or PAN is issued in the form of laminated plastic card which has details like name, age and date of birth. A PAN card allows the Income Tax Department to link all transactions such as tax payments, TDS/TCS credits, returns of income, specified transactions, correspondence and so on with them. A PAN is also needed for opening a bank account, applying for driving license, Passport and even for filing Income Tax Return (ITR). However, to obtain PAN card, you must fill out a form. There are two types of form namely 49A and 49AA.
It is mandatory to provide these two forms to the Assessing Office (AO).
The form 49A is meant for citizens, companies, entities staying and formed within India. While the form 49AA is to be filled by individual not being a citizen of India/Entities incorporated outside India/Unincorporated entities formed outside India.
The forms should be filled legibly in BLOCK LETTERS and preferably in black ink. It should also be noted that, each box, wherever provided, should contain only one character (alphabet /number / punctuation sign) leaving a blank box after each word.
Here’s a glimpse of these two forms:
An applicant must provide signature at three places in the form. If he or she cannot sign, then left hand thumb impression is allowed but attested by a Magistrate or a Notary Public or a Gazetted Officer, under official seal and stamp.
Individual applicants have to provide document pertaining to proof of identity, proof of address and proof of date of birth. The name of the applicant as mentioned in application form and the name appearing in the documents submitted along with the application should match exactly…………Read More>>