Monday, December 29, 2008

How to get PAN CARD

Definition
PAN refers to the Permanent Account Number issued by the income tax department of India. It is a must for everyone who files a tax return. Permanent Account Number (PAN) is a ten-digit alphanumeric number, issued in the form of a laminated card.

Why Is It Necessary To Have PAN?
It is mandatory to quote PAN on return of income, all correspondence with any income tax authority. From 1 January 2005 it will be mandatory to quote PAN on challans for any payments due to Income Tax Department. It is also compulsory to quote PAN in all documents pertaining to financial transactions notified from time-to-time by the Central Board of Direct Taxes. Some such transactions are sale and purchase of immovable property or motor vehicle or payments in cash, of amounts exceeding Rs. 25,000/-to hotels and restaurants or in connection with travel to any foreign country. It is also mandatory to mention PAN for obtaining a telephone or cellular telephone connection. Likewise, PAN has to be mentioned for making a time deposit exceeding Rs. 50,000/- with a Bank or Post Office or depositing cash of Rs. 50,000/- or more in a Bank .

What is Income Tax?
Income tax is a charge or levy collected by the government based on what you earn. Tax laws are broadly based on laws of equity. For sheer convenience, income (or what you earn) has been categorised as follows:
Salary, House/ Property, Business and Profession, Capital Gains,Other Sources.

Who must have a PAN?
All existing assesses or taxpayers or persons who are required to furnish a return of income, even on behalf of others, Any person, who intends to enter into financial transaction where quoting PAN is mandatory, must also obtain PAN
Since tax is a charge on income, it includes everyone. All individuals, whether Indian or not, have to pay tax on income earned in India. This tax is the individual's contribution towards the development and well-being of the country

Current tax rates

Income Slab and Tax Rate
Rs 0 to Rs 50,000 -0 percent
Rs 50,001 to Rs 60,000 -10 percent
Rs 60,001 toRs 1,50,000 -20 percent
Rs 1,50,001 to Rs 8,50,000 -30 percent
Exceeds Rs 8,50,000 -30 percent

Where and how to apply for PAN?
The Income Tax department has authorized UTI Investor Services Ltd (UTIISL) to set up and manage IT PAN Service Centers.
PAN application should be made only on Form 49A.
A PAN application (Form 49A) can be downloaded from the website of Income Tax department or UTIISL or NSDL (http://www.incometaxindia.gov.in/,http://www.utiisl.co.in/ or tin.nsdl.com).
The form is also available at IT PAN Service centers and TIN Facilitation centers.

Documents


Recent Color photograph of size 3.5cm*2.5cm
Proof of identity (any one)

Passport
Voter's ID
Driving license
School leaving certificate
Matriculation certificate
Degree from a recognized educational institution
Depository account
Credit card
Bank account
Water bill
Ration card
Property tax assessment order
Certificate of identity signed by an MP/ MLA/ municipal councilor/ gazetted officer
Proof of residence (any one):
Passport
Voter's ID
Driving license
Electricity bill
Telephone bill
Depository account
Credit card
Bank account
Ration card
Employer's certificate
Property tax assessment order
Rent receipt
Certificate of address signed by a MP/ MLA/ municipal councilor/ gazetted officer

If you dont recieve your PAN Card Email to or Call to
pancard.tax@gmail.com , mailto:tininfo@nsdl.co.in, utiisl-gsd@mail.utiisl.co.in,
022-2499 4650, 022-27561690

Verify whether Original PAN card not received?
http://incometaxindiaefiling.gov.in/knowpan/knowpan.jsp

Get Pan card with in 15 days
Assistants for getting PAN CARD in BANGALORE PLEASE CALL US ON
+91-9945006483,
+91-9916162574.
We will charge Rs 200 per pan card(including application and Pan card fee charges)