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What is Permanent Account Number or PAN number


PERMANENT ACCOUNT NUMBER


     PAN means a number which the Assessing Officer may allot to any person for the purpose of identification.
     PAN has ten alphanumeric characters and it is issued in the form of laminated card.
     Application for PAN. If an assessee has not allotted a Permanent Account Number he must apply for it in Form No. 49A within the prescribed time. The Assessing Officer has also got power to allot to any other person a Permanent Account Number if tax is payable by such person.

     Quoting PAN. Once a Permanent Account Number has been allotted, such number must be quoted in all Returns, correspondence with Income Tax Authorities, challans for payment and in all documents prescribed by the Board.

      It helps in linking the aforesaid documents to his assessment records to facilitate quick disposal of his assessment and refund claim.

     The assessee must intimate to Assessing Officer about any change in the address, name or nature of business carried on by him.

TAX DEDUCTION AND COLLECTION ACCOUNT NUMBER

     Every person, deducting tax or collecting tax at source, who has not been allotted a tax deduction account number or a tax collection account number, shall apply in duplicated in Form No. 49B within one month from the end of the month in which the tax was deducted or collected to the A.O. for the allotment of a ‘tax deduction and collection account number’.

     Where a “tax deduction and collection account number” has been allotted to a person, he shall quote such number in the prescribed documents.

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