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How to apply for PAN and its benifits

How to apply for PAN and its benifits

Application for allotment of PAN is to be made in Form 49A. Following points must be noted while filling the above form:-

i) Application Form must be typewritten or handwritten in black ink in BLOCK LETTERS.

ii) Two black & white photographs are to be annexed.

iii) While selecting the “Address for Communication”, due care should be exercised as all communications thereafter would be sent at indicated address.

iv) In the space given for “Father’s Name”, only the father’s name should be given. Married ladies may note that husband’s name is not required and should not be given.

v) Due care should be exercised to fill the correct date of birth.

vi) The form should be signed in English or any of the Indian Languages in the 2 specified places. In case of thumb impressions attestation by a Gazetted Officer is necessary.

What are the benefits of having a PAN Card?

A PAN number has been made compulsory for every transaction with the Income Tax department. It is also mandatory for numerous other financial transactions such as opening of bank accounts, availing institutional financial credits, purchase of high-end consumer item, foreign travel, transaction of immovable properties, dealing in securities etc. A PAN card is a valuable means of photo identification accepted by all government and non-government institutions in the country.

How to apply for PAN and its benifits

FEMA provisions for Resident and Non Resident Individuals

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