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PAN Registration

PAN is a unique, 10-character alpha-numeric identifier, issued to all judicial entities identifiable under the Indian Income Tax Act, 1961. The PAN is mandatory for a majority of financial transactions such as opening a bank account, receiving taxable salary or professional fees, sale or purchase of assets above specified limits etc.; especially high-value transactions.

FAQ on PAN Registration:

Who can apply for PAN?

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

Who can apply on behalf of minor, lunatic, idiot, mentally retarded, deceased and wards of court?

  • Section 160 of IT Act, 1961 provides that a minor, lunatic, idiot, mentally retarded, deceased, wards of court and such other persons may be represented through a Representative Assesses. In such cases,
  1. In the application for PAN, details of the a minor, lunatic, idiot, mentally retarded, deceased, wards of court, etc. should be provided.
  2. Details of representative assessee have to be provided in item 14 of the application for PAN.

Is it compulsory to quote PAN on ‘return of income’?

  • Yes

Can I have more than one PAN?

  • No. Obtaining/possessing more than one PAN is against the law and may attract a penalty up to 10,000. Therefore, it is advisable not to obtain/possess more than one PAN.

What are the documents to be submitted for PAN Application form?

  • Proof of Identity
  • Proof of Address
  • Proof of Date of Birth

pan registration

PAN Registration

*(Including Government fees)

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