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Alfalah Exchange Company
What is PAN?

Permanent Account Number (PAN) is a ten digit alphanumeric identifier, issud by Income Tax Department. Each assesses (e.g. individual, firm, company etc.) is issued a unique PAN.

Who can apply for PAN?

All existing assesses or taxpayers or persons who are requirred to file a return of income, even on behalf of others, must have a PAN. Any person, who intends to enter into economic or financial transactions where quoting PAN is mandatory, must also have a PAN.

Who can apply on behalf of non-resident, minor, mentally disabled, deceased and wards of court?

Section 160 of IT Act, 1961 provides that a non-resident, a minor, mentally disabled, deceased, wards of court and such other persons may be represented through a Representative Assessee. In such cases, in the application for PAN, details of the non-resident, a minor, mentally disabled, deceased, wards of court, etc. should be provided.

Details of representative assessee have to be provided in item 14 of the application for PAN.

Government of India/ ITD has issued fresh guidlines, allowing NRI to apply for PAN with Foreign Address, there is no necessity of Indian Address.

For more information and details about PAN please visit our nearest branches.

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