Pan Card is one of the most important and crucial documents to be obtained by the residents and the citizens of India, as it is a tool used for the identification of the taxpayers. It is important even for those residents who are not paying the taxes, to get one PAN card for themselves. A PAN card is vastly important since it would be required for various transactions. In the following passages, we look Form 49A and Form 49AA which are used for applying and modifying which are the two types of PAN card form in India.
Download PAN Card – Form 49A
Download PAN Card – Form 49AA
Types of PAN Card Form
PAN card application forms are of two types, they are:
- Form 49A
- Form 49AA
These application forms of the PAN cards can either be utilized for the online application or can also be downloaded for the offline application. Now we will dissect these two types of application is detailed manners.
PAN Card Form 49A – Indian Citizens
PAN Card Form 49A is a form of the application used for the allotment of the Permanent Account Number according to the Section 139A of the Income Tax Act of the year 1961. This form is used for the purpose of utilization of the Indian citizens along with the entities which are incorporated generally within India as well as those unincorporated entities which are formed within India. It is used with the aim of applying for a new PAN Card and to modify any information that are submitted previously.
PAN Card Form 49AA – Foreign Citizens
PAN Card Form 49AA is a form of application used for the allotment of the Permanent Account Number that has been governed by the Rule 114 of the Income Tax Rules of the year 1962. This form is used for the purpose of utilization of Individuals who are not the citizens of India along with the entities which are generally incorporated outside of the country of India as well as the unincorporated entities that are formed outside India.
Form 49A is to be filled by mentioning the same details as that of the Pan Form 49A. In addition to that, details pertaining to the KYC, which is also known as Know Your Customer in full form, of the one who is applying needs to be filled out by any Foreign Institutional Investor or any Qualified Foreign Investor as specified under the regulations issued by the Securities and Exchange Board of India (SEBI). In addition to it, it is recommended to include the details as said below (Details may vary in accordance with the status of the assessee):
Information required for the individuals are:
- Status of marriage
- Status of citizenship
- Details of the rank and occupation
Information required for the non-individuals are as follows:
- Type of the enterprise
- Gross Annual Income in rupees or INR
- Net-worth in rupees or INR
- Details of the personnel that is involved
- Mode of the Operation
- Whether or not the applicant or the authorized signatories of the applicant or the board of trustees or the office bearers who are politically exposed or are related to any politically exposed person
- Taxpayer Identification Number, shortly known as TIN, within the residing nation
- Whether or not the company has been listed in any recognized stock exchange
Applying for PAN Card
The above provided forms of PAN card can be used for the application for the new PAN or change the information within the PAN. The applicant is requested to submit the PAN as well as the documents which are required for the PAN card. In addition, follow the guidelines given below during the completion of the application of the PAN card.
- The application are to be filled using block or capital letters while doing it manually.
- The form is to only be filled in the English language while doing it manually.
- The application has to be completed using blank ink while doing it manually.
- All fields which are marked with the symbol of asterisk (*) are compulsory.
- The application has to be aloof of any corrections or overwriting.
- The applicant has to use full names in the first section specified for name as well as the last name section instead of just using separate individuals.
- The names can not include any abbreviated form or any salutation or title.
- 2 photographs must be attached to the form of application. The user is not supposed to have the photographs clipped or stapled to the application form.
- Signature or the thumb impression of the left hand are to be provided over the photo on the left hand side of the form in such a way so that the portion of the signature or the impression is a little bit on the photo and also a bit on the form (the thumb impressions has to be attested by any Magistrate or Notary Public or the Gazetted Officer)
- The proof of the address and the proof of the identity has to be identical to the former mentioned in the application form.
- The appropriate type of the document has to be enclosed as an evidence.
These are all the information related to the PAN card form. For more information, do not hesitate to visit our website CompanyVakil.com