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Revised Income Tax Returns To Be Filed By March 31: Details, Features Of Permanent Account Number

PAN is a ten-digit alphanumeric number, issued in the form of a laminated card, by the income tax department.

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Revised Income Tax Returns To Be Filed By March 31: Details, Features Of Permanent Account Number

PAN is mandatory for filing the income tax return (ITR)

The last day for filing belated or revised returns for assessment year 2016-17 and 2017-18 is March 31, 2018. However, you need a Permanent Account Number (PAN) to file your income tax returns. PAN is a ten-digit alphanumeric number, issued in the form of a laminated card, by the income tax department, to any "person" who applies for it or to whom the department allots the number without an application. PAN enables the department to link all transactions of the "person" with the department, it says on its website, incometaxindia.gov.in. These transactions include tax payments, returns of income/wealth/gift, specified transactions, correspondence, and so on. PAN, thus, acts as an identifier for the "person" with the tax department.

(Also Read: How To Update Address In Your PAN Card Online)

It is mandatory to quote PAN on return of income in all correspondence with any income tax authority. Since 1 January, 2005 it has been mandatory to quote PAN on challans for any payments due to income tax department. It is also mandatory to link PAN with Aadhaar card, the 12-digit unique identity number issued by the Unique Identification Authority of India.

(Also Read: A Step-By-Step Guide To Store Permanent Account Number (PAN) With DigiLocker)

Documents Required for PAN Application
If you are an individual applying for a PAN card, the income tax department requires you to provide the following documents:

(A) Proof of identity which includes a copy of,(a) elector's photo identity card; or (b) ration card having photograph of the applicant; or (c) passport; or (d) driving licence; or (e) arm's license; or (f) Aadhaar card or(g) photo identity card issued by the central government or a state government or a public sector undertaking; or (h) Pensioner card having photograph of the applicant; or (i) central government health scheme card or ex-servicemen contributory heath scheme photo card; or (ii) certificate of identity in original signed by a member of Parliament or member of legislative assembly or municipal councillor or a gazetted officer, as the case may be; or (iii) bank certificate in original on letter head from the branch (along with name and stamp of the issuing officer) containing duly attested photograph and bank account number of the applicant.

(Also Read: A Step-By-Step Guide To Link Aadhaar With PAN Card Online)

(B) Proof of address which includes (i) a copy of the following documents of not more than three months old- (a) electricity bill; or (b) landline telephone or broadband connection bill; or
(c) water bill; or (d) consumer gas connection card or book or piped gas bill; or (e) bank account statement or as per Note 1; or (f) depository account statement; or (g) credit card statement; or
(ii) copy of,─ (a) post office pass book having address of the applicant; or (b) passport; or (c) passport of the spouse; or (d) elector's photo identity card; or (e) latest property tax assessment order; or (f) driving licence; or (g) domicile certificate issued by the government; or (h) Aadhaar card; or (i) allotment letter of accommodation issued by the central government or state government of not more than three years old; or (j) property registration document; or (iii) certificate of address signed by a member of Parliament or member of legislative assembly or municipal councillor or a gazetted officer, as the case may be; or (iv) employer certificate in original.

(Also Read: Income Tax Filing: Tenants Need To Deduct TDS From Rent Over Rs. 50,000)

Note 1: In case of an Indian citizen residing outside India, a copy of the bank account statement in country of residence or copy of the non-resident external bank account statements shall
be the proof of address. Note 2: In case of a minor, any of the above documents of any of the parents or guardian of such minor shall be deemed to be the proof of address.

(Also Read: Investing In Mutual Funds? Income Tax Rules That Will Change From April 1)

(C) Proof of date of birth which includes copy of(a) a birth certificate issued by the municipal authority or any office authorised to issue birth and death certificate by the registrar of birth and deaths or the Indian consulate as defined in clause (d) of sub-section (1) of section 2 of the Citizenship Act, 1955 (57 of 1955); or (b) pension payment order; or (c) marriage certificate issued by registrar of marriages; or (d) matriculation certificate; or (e) passport; or (f) driving licence; or (g) domicile certificate issued by the government; or (h) affidavit sworn before a magistrate stating the date of birth.

(Also Read: National Pension Scheme Gives Extra Tax Deduction of Rs. 50,000. What Are Other Tax Benefits?)

Validity of PAN:
Once obtained, PAN is valid for life-time of the PAN-holder throughout India, says the income tax department. 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".

(Also Read: Post Office Savings Schemes That Offer Income Tax Benefits)

Comments
A person cannot hold more than one PAN.

You should intimate your PAN to the deductor i.e. the person deducting your tax. From 1 April, 2010, non-furnishing of PAN to deductors results in tax being deducted at source (TDS) at a much higher rate of 20 per cent or even more, states the income tax department on incometaxindia.gov.in.

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