Permanent Account Number (PAN) is a ten-digit alphanumeric number issued by the income tax departmentof Government of India to both individuals and businessesin the form of a laminated card. A typical PAN is AABPS1205E.

A PAN number is provided for the filing of all income tax returns. We procure PAN card for both individuals and the companies incorporated by us.

Mandatory to Quote PAN

It is mandatory to quote PAN on all correspondence with the income tax authority like return of income, on challans for any payments, moreover it is also compulsory to quote PAN in all documents pertaining to the following financial transactions:-

  • Sale or purchase of motor vehicle or vehicle, [the sale or purchase of a motor vehicle or vehicle does not include two wheeled vehicles, inclusive of any detachable
  • side-car having an extra wheel, attached to the motor vehicle.
  • Sale or purchase of any immovable property valued 5 lakhs rupees or more.
  • A time deposit amounting to more than fifty thousand rupees, with a banking company or Opening a bank account.
  • A deposit in any account with Post Office Savings Bank, exceeding fifty thousand rupees.
  • A deal for the selling or purchasing of shares with a value totaling one lakh rupee.
  • Framework for the implementation of a telecommunications link (including a mobile phone contact).
  • Payment of more than 25,000 rupees to hotels and restaurants against their bills at any given point.
  • Delivery on every one day in currency for the procurement of bank drafts or the delivery of orders or banker's checks for an total of 50,000 rupees or more
  • Cash payment exceeding twenty five thousand rupees in relation to travel to any foreign country at any one time.