Legal Requirements of PAN Card under Income Tax Act
Sale/Purchase of Immovable Property
Amount Exceeding Rs 10 lakhs or valued by stamp valuation authority referred to in section 50C of the Income Tax Act at an amount exceeding Rs 10 Lakhs
Motor vehicle (other than two wheeler) Time deposit
a) Deposits with Co-op banks, Post Office, Nidhi, NBFC companies will also need PAN.
b) Deposits aggregating to more than Rs.5 lakh during the year will also need PAN.
Sale or purchase of securities
Contract for sale/purchase of a value exceeding Rs.1 lakh
Opening an A/c. (other than time deposit) with a banking company.
a) Basic Savings Bank Deposit Account excluded (no PAN requirement for opening these accounts).
b) Co-operative banks also to comply
Hotel/restaurant bill(s) payment
Cash payment exceeding Rs.50,000/-.
Cash deposit in Bank
Cash deposit exceeding Rs.50,000/- in a day.
Foreign travel
Cash payment in connection with foreign travel or purchase of foreign currency of an amount exceeding Rs.50,000/- at any one time (including fare, payment to travel agent)
Credit card
Application to banking company/ any other company/institution for credit card. Co-operative banks also to comply.
Mutual fund units
Payment exceeding Rs.50,000/- to a company/ institution for acquiring its debentures/ bonds.
RBI bonds
Payment exceeding Rs.50,000/-.
Life insurance premium
Payment exceeding Rs.50,000/- in a year.
Purchases or sales of goods or services
Purchase/ sale of any goods or services exceeding Rs.2 lakh per transaction.
Cash cards/ prepaid instruments issued under Payment & Settlement Act
Cash payment aggregating to more than Rs.50,000 in a year.
Bank Drafts/Pay Order/ Bankers Cheque
Payment in cash for an amount exceeding Rs 50,000 in a day to any bank/cooperative bank
PAN Card Online Application Filing process?
Choose the Service Authority
There two Service providers in India
1) NSDL and 2) UTIITSL - Choose anyone
Visit Website of Service Authority
For Example You choose NSDL. Visit https://tin-nsdl.com
Click on Apply for PAN Online.
Choose Filing Type
Digital Signature based or Other than Digital Signature based ( self Signed Application/Esign aadhar based)
Prepare Application Form online
Choose Application type - New or Correction
Choose Category of Applicant - Individual/ Company/Firm, Etc.
STARTS Filing up details one by one and choose Income Tax Ward/Circle properly.
Pay Fees
After completing the Application form next step to pay the fee online ( if DSC/Aadhar Esign) or by DD/Cheque for Physical submission with self signed
Submit
After Fee Payment online Acknowledgement Copy / Application form generates.
This Copy need to be send with NSDL, Pune Office in case of self signed along with Supporting documents and Fee( if payable by DD/Cheque)
How to Check PAN Card Application Status online?
Visit Site of Website of wherein Application Filed
For Application made on NSDL click on https://tin.tin.nsdl.com/pantan/StatusTrack.html and Put Aknowledgement No and Submit
For Application made on UTIITSL click on http://www.trackpan.utiitsl.com/PANONLINE/#forward and Put Aknowledgement No and Submit
Documents Requirement for PAN Card Application ( Indian Resident)
For Individual Applicant
- ID Proof - Aadhar card / Driving License / Voter ID / Passport / Ration Card having your photo thereon / ID Card issued ( Govt. Employee) / Bank Certificate.
- Address Proof :- Electricity or Telephone or Water or Gas Connection or Credit Card Bill ( below 3 months old) / Aadhar card/ Passport / Driving License / Voter ID / Passport of Spouse / Employer Certificate in Original / Domicile Certificate / Certificate of Address in original signed by MP or MLA or Municipal Councilor (Annexure A)
- Date of Birth Proof : Birth Certificate issued by Municipal Authority or authorised Registrar / Aadhar Card / Voter ID / Driving License / Passport / Pension Payment Order / Marriage Certificate / Domicile Certificate / Matriculation Certificate / ID Card ( Govt Employee).
For Indian Company / LLP Registered in India - Only Certificate of Incorporation
For Firm - Registration Certificate Issued by Registrar of Firm or Partnership Deed copy.
For Association of Person (AOP) or Body of Individual (BOI) or Artificial Juducial Person (AJP)
- Registration Certificate as issued by Registrar of Cooperative Society / Competent Authority
- Certificate of Registration number as issued by charity commissioner
- Agreement copy
For Trust (AOP)
- Certificate of Registration number as issued by charity commissioner
- Trust Deed copy
For Hindu Undivided Family
Documents same as in case of Individual Applicant . Only one more additional documents can be addred 'A copy of Affidavit by Karta of HUF stating name, father name, and address of all coparceners'
Documents Requirement for PAN Card Application ( Foreign Citizen or NRI)
For Individual Applicant
ID Proof Documents :-
- Other National ID or Citizen ID or Taxpayer ID duly attested by Apostile ( in copy)
- Other National ID or Citizen ID or Taxpayer ID duly attested by authorised Officials of overseas branches of schedule banks registered in India ( in copy)
- Other National ID or Citizen ID or Taxpayer ID duly attested Consulate ( in copy)
- Other National ID or Citizen ID or Taxpayer ID duly attested by Indian Ambassy ( in copy)
- Other National ID or Citizen ID or Taxpayer ID duly attested by High Commission ( in copy)
- Overseas Citizenship of India Card issued by Govt. of India ( in copy)
- Passport ( in copy)
- Person of Indian Origin Card issued by Govt. of India ( in copy)
Address Proof Documents :-
- Bank Statement in the Country of Residence ( in Copy)
- Certificate of Residence in India or Residential Permit issued by State Police Authority ( in copy)
- NRE Bank Account Statement in India ( in copy)
- Overseas Citizenship of India Card issued by Govt. of India ( in copy)
- Passport ( in copy)
- Person of Indian Origin Card issued by Govt. of India ( in copy)
- Registration Certificate issued by Foreigners Registration Offices showing Indian Address ( in copy)
- Visa with Appointment Letter or Contract from Indian Company and letter with certificate ( Original) of Indian Address issued by Employer ( in copy)
For Companies / LLP/ Firm
As ID and Address Proof :-
- Certificate of Registration issued in the country where applicant is located duly attested by Apostile ( in copy)
- Certificate of Registration issued in the country where applicant is located duly attested by Indian Ambassy ( in copy)
- Certificate of Registration issued in the country where applicant is located duly attested by High Commission ( in copy)
- Certificate of Registration issued in the country where applicant is located duly attested by Consulate ( in copy)
- Certificate of Registration issued in the country where applicant is located duly attested by overseas branches of schedule banks registered in India ( in copy)
- Certificate of Registration issued in India or approval granted to setup office in India by Indian Authorities ( in copy)
- Certificate of Registration issued in India pr approval granted to setup office in India by Indian Authorities ( in copy) ( This is only for Address proof)
