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 What is the purpose of having a Permanent Account Number (PAN)? It is mandatory to quote PAN on return of income, all correspondence with any income tax authority and challans for any payments due to Income Tax Department.
It is also compulsory to quote PAN in all documents pertaining to economic or financial transactions notified from time-to-time by the Central Board of Direct Taxes.
It is also mandatory to mention PAN for obtaining a telephone or cellular telephone connection.
Likewise, PAN has to be mentioned for making a time deposit exceeding Rs. 50,000/- with a Bank or Post Office or depositing cash of Rs. 50,000/- or more in a Bank. Is it compulsory to quote PAN on return of income?
Yes, it is compulsory to quote PAN on return of income. Who must have a PAN?
Who are those persons who are not required to obtain or quote Permanent Account Number? The following categories of persons are not required to obtain or quote PAN:
xvi) Persons having only agricultural income and do not have any taxable income. Such persons will file a declaration (Form 61) in respect of transactions where quoting of PAN is mandatory;
xviii) Central Government, State Governments and Consular Offices in transactions in which they are the payers.
Our Bank is authorized to service the PAN applications. You can get your PAN card by simply filling up the application form and lodging the same at our 21 designated branches mentioned hereunder along with the documents prescribed.
|Sr. No.||Branch Name||Sr. No.||Branch Name|
|7||Punagam||18||A K Road|
Duly filled up application form along with xerox copy of proof of identity, proof of address and 2 recent photographs (of 3.5 cms x 2.5 cms in size) can be submitted at our branches.
In case of minors, the POA & POI of the parent / guardian (who should also be an IT assessee) who applies on behalf of the minor should be enclosed along with the application. Photograph of the minor must be pasted on the application form.