PAN Card Details

Here are the PAN card forms:

  • From 49A: For all citizens, whether residents Indians or NRI (Non Resident Indians), form 49A is used to apply for PAN card. Even non individuals like NGOs (Non Government Organizations), firms, partnership firms, local bodies, companies, trusts, companies, etc, have to submit form 49A to apply for a new PAN card. Minors and students also need to submit form 49A for applying for a PAN card.
  • Form 49AA: For foreign nationals who have to pay tax in the country have to submit form 49AA for applying for PAN card. Limited Liability Companies (LLC), firms, body of Individuals, trusts, Association of Persons (AOP) registered outside India have to submit duly filled and signed form 49AA when applying for a PAN card for tax purposes in India.

    Even NRE (Non Resident Entity) and OCI (Overseas Citizen of India) also need to fill and submit form 49AA for PAN card application. Entities and individuals submitting form 49AA for applying PAN card also need to submit their passport/ OCI/ PIO cards in addition to their bank account statements from the resident country as identity and address proof.

Types of PAN cards

  • For Individuals: IT department and the Individual themselves use the PAN card to keep track of and link all financial transactions which attract tax with the IT department, on the basis of which the total taxable amount is calculated.
  • For Companies: Apart from two differences, PAN card for Companies is same as that of PAN card for Individuals. These two differences are: non affixation of photograph on PAN card for companies and in lieu of date of birth mentioned in PAN card for individuals there id date of registration.
  • For foreign citizens in India: Just like Indian individuals, trusts, firm and companies, foreign citizens also need to have a PAN card to link and keep track record of the financial transactions.