Acronym for Permanent Account Number is a unique alphanumeric identity which is allotted to the taxpayer. The PAN number and PAN card are issued by the Income Tax department. It is also considered as the most authentic identity proof of any individual.
PAN card is necessary for any kind of financial transaction. Some of the places where it is mandatory include taxable salary, sale, and purchase of assets the value of which is above the specified limit, buying of mutual funds etc.
Who can apply for PAN card?
· Any person who earns a taxable income must register for PAN card, this applies to foreign nationals who pay tax in India
· People running business and have their total sales or turnover more than Rs5 lakh in the previous financial year
The government has simplified the procedure of application for PAN card, all you need to do is use Form 49 A or Form 49AA which is applicable to you. You can also visit an online forum to register for PAN card. The application for Pan Card requires some id proof, deposition of the fee. Once you have successfully registered yourself, you can check the status online.
As an independent citizen, you are free to go through this process or you can choose Power Your Finance. We help you with PAN card registration and carry on the complete paperwork regarding the same. We work for you from the registration step till the time of delivery of the PAN card.
Many times, there are some modifications and rectifications required, Power Your Finance does that as well.
Remember you will need PAN card for all major transactions in India so, you cannot put the PAN card registration on the backlog. If you are running out of time or are unaware of the process get in touch with Power Your Finance and we will help you do the same.
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