Full form of pan

The full form of pan is permanent account number. The Income Tax Department of India has issued this card with a unique ten-digit alpha numeric combination. Under section 139A of the Indian Income Tax Act 1961, the Income Tax Department of India issues this card.

P = Permanent

A = Account

N = Number

Types of PAN cards

  • HUF – Hindu Undivided Family
  • Individual
  • Artificial Judicial Person
  • Trust
  • Minor
  • AOP – Association of person
  • Society
  • Company or Corporation
  • Firm or Limited Liability Partnerships

Documents Required for a PAN Card

The documents are required for two principal purposes: establishing proof of identification and establishing proof of address. The important documents required for PAN numbers, depending on the PAN form for which they are applying, are listed below.

  1. Individuals

The following documents are required.

  • Voter ID
  • Driving licence
  • Adhar card
  • Passport

2. HUF – (Hindu Undivided Family)

The following documents are required.

  • An affidavit signed by Hindu Undivided Family on behalf of members, giving the member’s DOB and evidence of address. 2. Businesses
  • The company’s register certificate is issued by the register.
  1. Trust – The trust and charity commissioner issues a trust deed and a registered certificate number.
  2. Society -The number of the cooperative society’s registered certificate, which is issued by the commissioner.
  3. Foreigners – A bank statement from your home country, a passport, and a bank statement from your NRE account in India are all required.

PAN Card’s Importance

  • Proof of identity and the filing of an income tax return both require a PAN number.
  • PAN number is required for financial purposes such as opening an account, obtaining a loan or credit card, and so on.
  • A PAN is required for the sale or acquisition of any property valued at more than Rs. 5 lakh.
  • When buying or selling cars, for example, a PAN number is required.

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