Thursday, January 28, 2016

PAN CARD IS NOW MANDATORY FOR EVERY CITIZEN IN INDIA

What is PAN?

Permanent Account Number (PAN) is a ten-digit alphanumeric number, issued in the form of a laminated card, by an Assessing Officer of the Income Tax Department. A typical PAN is AFRPP1595D

Who must have a PAN?

i.                     All existing assesses or taxpayers or persons who are required to furnish a return of income, even on behalf of others, must obtain PAN.
ii.                    Any person, who intends to enter into economic or financial transactions where quoting PAN is mandatory, must also obtain PAN.

Where to apply for PAN?

In order to improve PAN related services, the Income Tax department has authorized UTI Infrastructure Technology And Services Ltd (UTIITSL) to set up and manage IT PAN Service Centers in all cities or towns where there is an Income Tax office. For convenience of PAN applicants in big cities, UTITSL has set up more than one IT PAN Service Center.

How to find an IT PAN Service Center?

Location of IT PAN Service Centers in any city may be obtained from local Income Tax Office or any office of UTIITSL in that city or from website of the Income Tax department (www.incometaxindia.gov.in).