types of PAN card
for Individuals
Any Indian citizen, including students and minors, may apply via Form 49A.
for Non-Resident Individuals
They must also submit Form 49A and will if they pay taxes in India, be able to apply for the same.
for foreign entities paying tax in India
By completing form 49AA, any corporation registered outside India but paying taxes in India can obtain a PAN Passport.
for OCI and NRE
India's overseas residents and non-resident organizations can also apply for a PAN Card via form 49AAA.
for Indian Companies
For tax-related purchases, businesses and organizations may even register for a PAN Card.
Advantages of pan card
-
Requisite For All Correspondence And Payments To And From India’s Income Tax Department
You have to hold a single PAN number to demand a tax rebate, pay tax, give tax at source or tax received from the source, etc.
Valid Identity Proof
A PAN card is a legal country-wide proof of identity. It contains all you need, including name, date of birth, image, signature, etc.
Enables Verification Of Payments
A PAN card means you club all your payments under your PAN number to guarantee that your payments are reviewed faster.
For Some Financial Transactions, PAN Cards Are Mandatory.
A PAN card makes it easy to confirm your payment under PAN. All payments can be clubbed under the PAN figure.
Registration Of Businesses
An agency, company, HUF, etc., without a PAN card, cannot register the businesses.
