Permanent Account Number (PAN) registration in India is essential for tax-related purposes and financial transactions. Issued by the Income Tax Department, PAN is a unique 10-character alphanumeric code linked to an individual or business. Here’s a step-by-step guide on PAN registration:
Who Needs a PAN?
Individuals: For tax filing, financial transactions above certain limits, opening bank accounts, applying for loans, etc.
Businesses: Companies, LLPs, partnerships, and trusts need PAN for tax registration, filing returns, and business transactions.
Foreign Entities: Foreign nationals and businesses operating in India must also register for PAN for tax purposes.
PAN for Individuals
Proof of Identity: Aadhaar card, voter ID, passport, driver’s license, etc.
Proof of Address: Utility bill, Aadhaar card, passport, rental agreement, etc.
Proof of Date of Birth: Birth certificate, Aadhaar card, matriculation certificate, etc.
PAN for Businesses
Certificate of Incorporation or Registration Certificate, Partnership Deed (for partnership firms), Power of Attorney (for foreign entities)