It will be determined according to the tax slabs. Any individual who has paid taxes or is liable to pay taxes to the Income Tax Department.Any individual who has a business or a professional practice where they earn an annual turnover of over Rs.5 lakh in any assessment year.Any exporter and importer who is liable to pay any type of duty charge or tax as per the Income Tax act or a prevalent law.Every type of association, charitable organization, and trust.Here are the taxpaying entities that must have a Permanent Account Number under the Income Tax Act’s 139A section: Therefore, you must determine whether you can get one or not. Not all individuals are eligible for PAN cards.
Meanwhile, PAN Cards given to companies have the company’s name, PAN number, registration date, QR code, hologram, and the PAN’s issue date. Cards given to individuals will have the name, photograph, date of birth, authenticity hologram, date of issue of the number, QR code, permanent account number, signature, and the name of the father of the card’s owner. The cards also look a bit different based on whether they’re for individuals or companies. As such, PAN cards come in different types based on the category they are meant for: PAN cards are not only given to individuals who pay taxes. Since the card does not get affected by address changes, you will have it for a lifetime. If you need to prove your identity to the DoB, you can make copies of the card and submit them. The PAN Card is a physical card that features your name, birth date, photograph, and your spouse’s or father’s name. When someone receives their PAN number, the Income Tax Department also offers them a PAN Card. These numbers are unique – therefore, there cannot be two people using the same PAN to pay their taxes. It is an electronic system that can record all the information for a company or individual against one PAN number. Documents Required to Apply for a PAN CardĪ PAN or Permanent Account Number is a number for identification given to all people in India who pay taxes.
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