Overview

Permanent Account Number (PAN) is a unique ten-digit alphanumeric number issued by the Income Tax Department in India. This number is mandatory for carrying out various financial transactions such as opening a bank account, receiving taxable salary or professional fees, sale or purchase of assets above specified limits.

PAN Card, in the form of a laminated card, refers to a permanent number, which does not change during the lifetime of the PAN holder and serves as an important identity proof. It is allotted to each tax payer by the Income Tax Department, individuals and entities, under the supervision of the Central Board of Direct Taxes.

The primary objective is to use a universal identification key to track financial transactions having a taxable component in it in order to prevent tax evasion. It remains unaffected by change of address throughout the country.

Know about application process for new pan card

You can submit your PAN card application at any of Alankit’s offices in Singapore.Please get in touch with us to know more about our seamless application process and document pickup

Submit your primary documents namely, proof of identity (POI) and proof of address (POA).

Your application is processed by NSDL, provided your application and documents are in order.

PAN: A must for nris & foreign passpost Holders

It is mandatory to quote PAN on the return of income in India, according to the Income Tax Department of India. As per SEBI directive, effective since July 02, 2007, the Permanent Account number (PAN) shall be the sole identification number for all participants transacting in the securities market, including mutual funds, irrespective of the amount of transaction.

Consequently, it is now mandatory for all existing as well as prospective investors (including all joint applicants/holders, guardians and non-resident Indians) to furnish their PAN card copy along with the original PAN card while investing in mutual funds. We also assist with HUF PANs, family PAN cards, PAN for minors, address or name change, signature mismatch, or any other correction.

Know about application process for new pan card

You can submit your PAN card application at any of Alankit’s offices in Singapore. Alankit also has a provision to arrange a pickup for your PAN Application from your doorstep with extra charges. Please get in touch with us to know more about our seamless application process and document pickup

  1. Obtain PAN applications from nearest Alankit Office or download from our website.
  2. Submit a duly filled and signed PAN application form or courier it to our office along with the required supporting documents at our office.
  3. Submit your primary documents namely, proof of identity (POI) and proof of addres (POA).
  4. Your application is processed by NSDL, provided your application and documents are in order.
Why pan is a must?

The PAN is a critical document to own and must be quoted in all documents pertaining to the following financial transactions:-

  • Sale or purchase of any immovable property valued at five lakh rupees or more
  • Sale or purchase of a 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]
  • A time deposit, exceeding fifty thousand rupees, with a banking company
  • A deposit, exceeding fifty thousand rupees, in any account with Post Office Savings Bank
  • A contract of a value exceeding one lakh rupees for sale or purchase of securities
  • Opening a bank account
  • Applying for installation of a telephone connection (including a cellular telephone connection)
  • Payment to hotels and restaurants against their bills for an amount exceeding twenty-five thousand rupees at any one time
  • Payment in cash for purchase of bank drafts or pay orders or banker’s cheques for an amount aggregating fifty thousand rupees or more during any one day
  • Deposit in cash aggregating fifty thousand rupees or more with a bank during any one day
  • Payment in cash in connection
KNOW YOUR PAN STATUS

You can track the status of your application for new PAN / reprint of PAN card / Changes or Correction in PAN details using the 15-digit unique Acknowledgment Number after 3 or 4 days of application. For more information, click here

Track Lost PAN

If you are a non-resident Indian living abroad or an OCI/PIO who has lost or misplaced his PAN card, then we may help. We assist you in applying for a PAN card with an old PAN and get it delivered to your foreign address abroad.

- Filling the forms & sending them to our office with required documents.

- Submitting your application to the PAN Department.

- You receive the acknowledgment slip.

- We do the follow-up of your case with the PAN department.

- You receive the PAN Card abroad within 15-20 Business Days.

Primarily, we assist you in the process of - downloading a duplicate PAN form and making correction application online, filling the application for lost PAN, guiding you to apply for a replacement or a duplicate PAN card.

We assist and guide NRIs, overseas citizenship holders of India (OCI) and persons of India origin (PIO) to apply for a lost IT PAN card. With our support, you will receive the PAN card abroad within 15 to 20 business days, without any hassle. All you have to do is to get in touch with our adviser, who will let you know how to obtain a PAN card in case you have misplaced your previous old income tax PAN.

Guide to pan Correction

We assist NRIs, OCIs and PIOs to get corrections and other changes in their PAN Card. If you are an NRI, PIO/OCI and require PAN correction or changes in your PAN card, we can help. Apply through Alankit to get such corrections and get your PAN card delivered to your foreign address.

We facilitate PAN correction application online through an easy step-by-step procedure involving filling of application form and submission of documents, and ensure you receive the updated PAN card at the earliest.

- Name Correction or Change on PAN Card

- Father Name Correction

- Address Change or Correction

- Signature Mismatch

- Date of Birth Correction

- Apply Duplicate for lost - misplaced PAN Card

- Track PAN Card Status Online

- Locate your IT PAN Card, if not received

- Apply for new PAN (Permanent Account Number)

- Get PAN for minor

- Obtain HUF PAN - Hindu Undivided Family

- Fill the forms & post them to our office with supporting documents.

- We go ahead and submit your application to the PAN Department.

- You receive the acknowledgment slip from us after submission.

- We do the necessary follow-up with the PAN department.

- You receive the PAN Card abroad within 15-20 Business Days.

PAN -FAQs

PAN (Permanent Account Number) refers to a ten-digit alphanumeric number, issued in the form of a laminated card, by the Income Tax Department (ITD) in India.

- Yes, it is mandatory as per the Indian Income Tax Department.

- SEBI has made PAN compulsory for all investors wanting to invest in India.

- It is compulsory if one wants to carry any kind of financial or investment related transaction in India over INR 49,999.

- No, it is not compulsory.

- In case you generate income from India, you need to file tax return.

- It is always advisable to file tax return even though you are not making any money in India as it enhances your credibility and makes it easy for one to get various types of loans.

- All existing taxpayers or persons who are required to file a Return of Income, even on behalf of others.

- Any person who intends to enter into economic or financial transactions where quoting PAN is mandatory.

You can apply for PAN by filling up the Application Form 49A or Application Form 49AA (for individuals/ entities other than Indian citizen).

Permanent Account Number (PAN) as the name suggests, is permanent and does not change. Change of the address should be intimated to ITD so that the PAN database of ITD can be updated. Same can be done by filling up the form for Request for New PAN Card or/and Changes or Correction of PAN data and submitting the form at any TIN FC.

Obtaining more than one PAN is punishable under law and may attract a penalty up to Rs.10,000. If you have more than one PAN, surrender immediately the unused PAN by logging into ITD website at www.incometaxindia.gov.in.

- For 'Individual' applicants 2 recent color photographs of size 3.5 cm x 2.5 cm.

- Should not be stapled or clipped to the form.

Female applicants, irrespective of their marital status, should write only father’s name in the PAN application form.

In general, having a PAN or permanent account number does not bring any benefits; rather it is more of a compulsion laid by the Income Tax Department of India. It is compulsory for NRIs - Non Resident Indians living abroad to have a pan card if they intend to carry out any kind of financial or investment related transactions in India. Thus, one may consider it as a Tax ID which is a must for NRIs if they intend to invest in shares, open a Demat account, purchase real estate, open a NRI bank account, get loans, apply for a visa or passport, secure income from rent, get foreign remittance, etc.

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