How To Apply For PAN?

A PAN can be applied for in Form No. 49A by every person who is liable to obtain the said Number. The details to be furnished are given below:

Name of the assessee
Residential address in case of individual
Office address along with the address of branches, if any
Nature of Business: It is advisable to file the copy of agreement of partnership deed or memorandum of association in case of Company along with the Application form Name and address of all partners/directors/members of AOP, etc.
Name of the person whose income is included in the income of the assessee
Old GIR/PAN., already allotted.

Mandatory quoting of PAN:

Every person to whom a PAN is allotted is required to quote the same in

• all his returns to, and/or correspondence with, any Income Tax Authority;
• all challans for payment of direct taxes;
• application for opening an account with a bank;
• application for installation of a telephone connection (including a cellular telephone);
• documents pertaining to sale or purchase of a motor vehicle;
• documents pertaining to sale or purchase of immovable property valued at Rs.5 lakhs or more;
• documents pertaining to a time deposit exceeding Rs.50,000 with a Bank;
• documents pertaining to deposits exceeding Rs.50,000/- in any account with a Post Office Savings Bank;
• documents pertaining to a contract of a value exceeding Rs.10 lakhs for sale or purchase of securities (shares, debentures etc.);
• payment to hotel & restaurants against their bills for an amount exceeding Rs.25.000/- at anyone time;

Every person receiving any sum or income or amount from which tax has been deducted under the provisions of chapter XVII-B (relating to TDS -Section 192 to 197), shall intimate his PA. to the person responsible for deducting such tax

Every buyer referred to in section 206C ( for tax collected at source) shall intimate his PAN to the seller referred to in that seller.

If tax is being deducted at source on payment of salary, rent, interest etc., it will be in your interest to give your PAN under the new series to the tax deductor so that the same could be mentioned in the TDS Certificate and Annual Return of TDS. This will help you in getting credit for taxes deducted at source.