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PAN Number is a 10-digit alphanumeric identity number,issued under Section 139A of Income-tax Act,1961 by income tax department.It identify all the transaction of a tax assesses,like-Tax payment,Tax returns,and specified transaction where PAN has to be quoted.It is essential for every individual to have a PAN, if the income earned during the year is taxable,which means Rs2.5lakh or more below the age of 60 years,or more than Rs 3 lakh for senior citizens above 60 years of age,and Rs 5 lakh or more for very citizens above 80 years of age.
Once obtained,PAN is valid throughout India and for the lifetime of assesses. Pan Card Apply Online is done through Filingbazaar.
In India,the minimum age to obtain a PAN is 18 years.
PAN is important for foreign citizens in those case who wish to undertakes business in India/want to invest in India.
Those who have already obtanied the PAN card or want some changes/corrections in their PAN data,are required to submit their applications by ITD(Income Tax Department):”CHANGES OR CHANGES OR CORRECTION IN
PAN CARD”.
No, it is an illegal.
No,people are not required to submit any documents when linking Aadhar to your PAN card.
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