PAN REGISTRATION

PAN Registration

PAN or Tax Deduction and Collection Number (PAN) is mandatory 10 digit alpha number required to be obtained by all persons who are responsible for Tax Deduction at Source (TDS) or Tax Collection at Source (TCS) on behalf of the Government. Tax deducted at source (TDS) ensures that the Government's collection of tax is proponed and the responsibility for paying tax is diversified. The person deducting the tax at source is required to deposit the tax deducted to the credit of Central Government - quoting the PAN number. Individuals who are salaried are not required to obtain PAN or deduct tax at source. However, a proprietorship business and other entities (i.e., Private Limited Company, LLP, etc.,) must deduct tax at source while making certain payment like salary, payments to contractor or sub-contractors, payment of rent exceeding Rs.1,80,000 per year, etc. On deducting tax at source, the entity registered for PAN will issue a TDS Certificate as proof of collection of tax.

To obtain PAN, application must be made for allotment of PAN in Form 49B along with the required supporting documents. Based on the application, the PAN will be allotted to the entity and the entity must quote the PAN in all TDS/TCS returns, TDS/TCS payment challans and all TDS/TCS Certificates. IndiaFilings can help you obtain your PAN registration quickly and hassle-fee. IndiaFilings is an authorized PAN Facilitation Center.

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Reasons to Register a PAN

Validity

Once a PAN is issued, it is valid for lifetime. However, TDS Filings must be made quarterly on the 15th day of July, October, January and May. Non-filing of TDS filings within the due date will attract a penalty.

Proprietorship Require PAN

Salaried individuals are not required to deduct tax at source. However, individuals running a proprietorship are required to obtain PAN and deduct tax at source when required.

TDS Payments

Tax Deducted at Source must be paid into authorized bank, quoting the PAN and using Challan 281. TDS during the preceding month must be paid before the 7th day of the following month.

PAN Facilitation Center

We are authorized PAN facilitation center. Therefore, IndiaFilings can help you obtain PAN hassle-free and quickly. Just send the PAN application along with the supporting documents and we will help you get your PAN quickly.