PAN (Permanent Account Number) is a 10-digit alphanumeric identifier issued by the Income Tax Department — mandatory for all significant financial transactions in India. Whether you're an individual filing ITR, a company paying employees, or a business registering for GST — a valid PAN is essential.
📋 Need a PAN for yourself, your business, or your company? TaxAMC handles PAN applications, corrections, and Aadhaar linking — fast turnaround, fully online. WhatsApp for quick help
1. What is PAN and Why is it Important?
PAN is a unique 10-character code in the format ABCDE1234F. It is issued for life and does not change with address changes. Required for: ITR filing, opening bank accounts, buying or selling property above ₹10 lakh, fixed deposits above ₹50,000, cash deposits above ₹50,000, mutual fund investments, credit card applications, company and business registrations.
2. Who Needs a PAN Card?
- All individuals with taxable income or filing ITR
- All businesses — proprietorships, partnerships, companies, LLPs
- All directors, partners, and authorised signatories
- Persons making financial transactions above threshold limits
- NRIs buying property or investing in India
- Foreign companies earning income in India
3. How to Apply for PAN Online
Two authorised portals:
- NSDL (Protean): onlineservices.nsdl.com → Services → PAN → Apply Online → Form 49A (Indian citizens) or Form 49AA (foreigners)
- UTI Infrastructure: pan.utiitsl.com → Apply for New PAN
Fee: ₹107 for India delivery; ₹1,017 for foreign address delivery. PAN issued and delivered within 15–20 working days.
4. Documents Required
| Document Type | Accepted Documents |
|---|---|
| Identity Proof | Aadhaar, Voter ID, Passport, Driving License |
| Address Proof | Aadhaar, Voter ID, Passport, Bank statement, Utility bill |
| Date of Birth Proof | Aadhaar, Birth certificate, Class 10 marksheet, Passport |
Aadhaar alone serves as proof for all three categories — simplest option.
5. PAN for Companies, Firms & LLPs
| Entity Type | Documents Required |
|---|---|
| Private Limited Company | Certificate of Incorporation + MoA/AoA |
| LLP | Certificate of Incorporation + LLP Agreement |
| Partnership Firm | Partnership Deed |
| HUF | Declaration by Karta + Aadhaar of Karta |
Proprietorship uses the proprietor's individual PAN — no separate PAN needed.
6. PAN Card Correction / Update
Apply on NSDL or UTI portal using Form 49A for corrections in name, date of birth, father's name, signature, or photograph. Same fee as new PAN. Submit supporting documents as proof of correct information.
7. Duplicate PAN Card
Lost, stolen, or damaged PAN card? Apply for reprint via NSDL or UTI — your PAN number remains the same. Fee: ₹50 for physical card or ₹8.26 for e-PAN only.
8. Linking PAN with Aadhaar — Mandatory
Unlinked PANs are inoperative. Consequences: cannot file ITR or get refunds, TDS deducted at higher rate (20%), cannot open bank or demat accounts.
How to link: incometax.gov.in → Link Aadhaar → Enter PAN and Aadhaar → Pay ₹1,000 penalty → OTP verification. Status updates within 4–7 working days.
Exempt categories: NRIs, persons aged 80+, residents of certain states as notified by CBDT.
Disclaimer: This article is for general informational and educational purposes only. It represents our professional views as Chartered Accountants. This content should not be construed as legal or tax advice. Tax laws are subject to change with each Union Budget. For advice specific to your situation, please consult our experts directly.
PAN Card Application, Correction & Aadhaar Linking
TaxAMC handles PAN applications for individuals, companies, firms and HUFs — along with corrections and Aadhaar linking. Fast, accurate, fully online.
PAN Card Help →