A Permanent Account Number (PAN) is given to every taxpayer in the country. The Income Tax Department uses the PAN to check if individuals and entities have paid tax. Any information regarding an individual’s tax payments and dues are recorded against his/her PAN. Depending on the type of entity, the PAN that is provided will be different.
PAN Card Types
The different types of PAN Cards that are provided are mentioned below:
- Partnerships or Firms
- Hindu Undivided Family (HUF)
- Non-Resident Indians (NRIs)
PAN Card for Companies in India
Companies in India as well as companies in the country that make income from abroad will need to provide details of the PAN. Form 49 will need to be provided in order to obtain a PAN Card. Details such as the date the PAN card was allotted, QR code, registration date, and the name of the company will be mentioned on the PAN. In order to apply for a PAN, you will need to visit the official website of UTIITSL or NSDL.
PAN Card for Non-Resident Entities (NREs) and Overseas Citizens of India (OCI)
NREs and OCI must apply for a PAN Card by providing Form 49AA.
PAN Card for Foreign Companies that are Paying Tax in India
Any companies that are registered abroad but are paying tax in India will need to apply for a PAN Card by submitting Form 49AA. In order to apply for a PAN, you will need to visit the official website of UTIITSL or NSDL.
PAN Card for Foreigners
Foreigners who wish to have a business in the country will need to apply for a PAN Card in order to conduct financial transactions. Form 49AA must be submitted in order to apply for a PAN Card. Form 49AA can be submitted both offline and online. The individual’s signature, date of birth, father’s name, PAN, name, and photograph will be mentioned on the PAN Card.
PAN Card for Individuals (Resident)
HUFs and resident individuals will need to apply for a PAN Card by providing Form 49A. NRIs fall under this category as well. The PAN Card will contain the individual’s signature, date of birth, gender, father’s name, name, PAN, and photograph. Resident individuals will need to submit the Aadhaar Card to apply for the PAN. Individuals can apply for a PAN both offline and online.
Different PAN Card Forms
The different PAN Card forms that are available are mentioned below:
- Form 49AA: Foreign nationals must submit Form 49AA when they apply for a PAN Card. Details such as the phone number, address, name, and Assessing Officer (AO) code will be present in the form.
- Form 49A: Indian nationals must submit Form 49A to apply for a PAN Card. Students and minors can also submit Form 49A to apply for a PAN Card.