Permanent Account Number (P.A.N)

Every person assessable to tax or satisfying certain criteria is required to obtain Permanent Account Number (P.A.N) which is an identity number for each tax payer.

The non-residents who are filing the Return of Income may be allotted P.A.N by the Assessing Officer under section 139A (2) of the Income-tax Act. However, if P.A.N is not allotted he should apply to obtain P.A.N.

UTILITIES OF P.A.N

A person is required to quote his P.A.N while executing the following transactions:

• Property deals

• Vehicle deals

• Share transactions

• Opening bank accounts

• Obtaining Telephone Connections

• Investing in Bank Fixed deposits etc.

Also, from 1st June, 2001 the person whose tax is deducted at source is required to give his P.A.N to the person who is deducting tax at source. Application for P.A.N is to be made in the prescribed form no. 49A along with 2 passport size photographs

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