A person cannot hold more than one PAN. If a PAN is allotted to a person, then he cannot apply for obtaining another PAN. A penalty of Rs. 10,000/- is liable to be imposed underSection 272B of the Income-tax Act, 1961 for having more than one PAN, according to Income Tax India official website. If a person has been allotted more than one PAN then he should immediately surrender the additional PAN card(s).
What is E-PAN?
E-PAN is the PAN provided in PDF format rather than physical card. The E-PAN card in PDF format will be sent to e-mail ID mentioned in PAN application form. If the physical PAN Card is not required, then PAN applicant will have to indicate at the time of submission of PAN application.
In such cases, Email ID will be mandatory & E-PAN Card will be sent to the PAN applicant at the email ID. Physical PAN Card will not be dispatched in such cases. Charges for E-PAN card is different from physical PAN card.
What is PAN verification?
This functionality helps deductor in verifying whether the PAN provided by the deductee (Tax Payer) is valid as per Income Tax Department database, according to Income Tax India official website.
What is the penalty for not complying with the provisions relating to PAN?
Section 272B provides for penalty in case of default by the taxpayer in complying with the provisions relating to PAN, i.e., not obtaining PAN, even though he is liable to obtain PAN or knowingly quoting incorrect PAN in any prescribed document in which PAN is to be quoted or intimating incorrect PAN to the person deducing tax or person collecting tax.
Penalty of Rs. 10,000 under section 272B can be levied for failure to comply with the provisions of section 139A and penalty of Rs. 10000 per default shall be levied for failure to Quote or to Quote invalid PAN.
What is the validity of PAN?
PAN obtained once is valid for life-time of the PAN-holder throughout India. It is not affected by change of address or change of Assessing Officer etc.
However, any change in the PAN database (i.e. details provided at the time of obtaining PAN) should be intimated to the Income Tax Department by furnishing the details in the form for "Request For New PAN Card Or/ And Changes or Correction in PAN Data".
After making the PAN application, how can I check the status of my PAN application?
After applying for PAN, one can check the status of his application by using the track status facility available at web sites of Income Tax Department or UTIITSL or NSDL i.e. www.incometaxindia.gov.in or NSDL and UTITSL .
Should married female provide father's name?
While providing the full name, applicant should provide father's name and hence, married female should provide father's name and not husband's name.
What documents will serve as the relevant proofs in case of applicants being entities incorporated outside India/Unincorporated entities formed outside India?
Copy of following will serve as relevant proof in case of applicant being entities incorporated outside India/Unincorporated entities formed outside India:
1. Copy of Certificate of Registration issued in the country where the applicant is located, duly attested by "Apostille" (in respect of the countries which are signatories to the Hague Apostille Convention of 1961) or by the Indian Embassy or High Commission or Consulate in the country where the applicant is located or authorised officials of overseas branches of Scheduled Banks registered in India
2. Copy of registration certificate issued in India or of approval granted to set up office in India by Indian Authorities.