PAN card Application and Correction services in Ahmedabad

PAN card Application and Correction services in Ahmedabad provided at K M Gatecha & Co LLP:

• Collection of documents,
• Filling of form,
• Submission of form along with the collected documents,
• Application process,
• Payment of fees,
• Obtaining PAN.

PAN card:

• PAN card is an abbreviation for permanent account number which is a unique 10-digit alpha-numeric number which is assigned to a person or company which is an identity of the entity in the eyes of the law,
• It helps the Income tax Department link all the transaction to the PAN holder for taxation purposes,

Necessities of a PAN card:

• PAN card is a mandatory document,
• It is required for opening a Bank Account,
• It is required for filing IT returns,
• It is required for any cash transaction above INR 50,000/-
• It is required to be presented in case of purchase or sale of property or other assets,
• Mandatory document for GST registration, filing, returns and refunds.

Benefits of PAN Card:

• Helps in claiming TDS/TCS deposited,
• Tax exemptions can be claimed,
• NRI can claim non-deduction or lower deductions in India,
• Authenticity of financial transaction is established.

Process of PAN card application:

• Application of NSDL or UTIISL website,
• Application form 49A on NSDL,
• Payment of application fees,
• Courier of supporting documents,
• PAN card is issued after verification of documents and form.

Documents required for PAN card Application and Correction services in Ahmedabad:

• Self-attested address proof (electricity bill, bank statement or mobile bill which is not older than 2 months from date of application),
• Self-attested ID proof (driver’s license, passport, voter’s ID or Aadhar card).

Salient Features of PAN card:

• PAN card is a unique alphanumeric number which is given to an individual or Company,
• Only one PAN card can be held by one person at any time,
• Holding more that one PAN card is punishable under the INCOME tax laws and can attract penalty and/or jail,
• PAN Card must be presented to obtain a bank account, GST number and while filing IT returns,
• If PAN card is presented when a financial transaction takes places regarding sale or purchase of property or other assets, it attracts lower TDS which can be claimed in IT returns.