June 23, 2024

Before delving into the types of PAN cards, let us first understand what PAN cards.

PAN card

Permanent Account Number or PAN card is a 10-digit alphanumeric code provided to every taxpayer in India. It assists the authorities to keep track of earnings and taxes paid by the individuals in the past and the amount of tax is required to pay for the current financial year. Further, it helps the individual to file the income tax. It also acts as identity proof.

Importance of PAN Card

1. It is essential to have a PAN card for filings income tax.

2. It is essential to submit a PAN card as identity proof for applying for a loan.

3. It is required while opening a new bank account.

4. It helps the government to keep track of payments and transactions.

The permanent account number is provided to:

  • Resident Individuals
  • Minors individuals
  • Hindu Undivided Families
  • Partnerships
  • Companies
  • Trusts
  • Foreign Individuals

Different types of PAN cards are:

PAN Card for Resident Individuals

1. Resident individuals, Non-resident individuals, and undivided Hindu families fall under this category.

2. Resident individuals and undivided Hindu families have to fill form 49A to apply for this Permanent Identity card.

3. Permanent Identity card for individuals contains the photograph of the cardholder, unique alphanumeric, name, father’s name, sex, date of birth, QR code, hologram, and signature.

4. PAN cards for the HUFs contains the name of the Karta or head of the family.

PAN Card for Foreigners

1. Foreigners are required to get the PAN for conducting business India.

2. They can apply for the form by filling form 49AA form.

3. Like in the case of individuals and HUFS, the foreign individual’s PAN card contains also contains his photograph, name, Alphanumeric number, father’s name, date of birth, Sex, signature, hologram, and QR code.

PAN Card for Foreign Companies

1. Foreign companies conducting business in India are required to get a PAN card.

2. They can get the PAN card by filling the form 49AA.

Foreign companies are also required to submit some documents for getting their PAN request approved.

1. The copy of registration certificate issued in India or of approval sanctioned to establish an office in India by Indian officials

2. The copy of Certificate of Registration issued in the country where the individual is located, duly attested by “Apostille” or by Indian embassy or High Commission or Consulate in the country where the applicant is located or authorized authorities of overseas branches of Scheduled Banks registered in India

PAN Card for Companies/Trusts/Partnership Firms

1. The India authorities have made mandatory for companies, trusts, partnerships, and firms registered in India to get PAN Card.

2. Companies/trust/partnership firms can apply for the same through NSDL, UTITSL, or MCA portal.

3. Permanent Account Number Card issued to Indian companies will contain the company’s name, registration date, allotted PAN, QR code, hologram, and date of PAN allotment.

4. Companies are required to fill Form 49A to apply for a PAN card if applying through NSDL or UTIITSL portal while applying through the MCA portal, the company has to fill the common SPICe-INC 32 form