PAN and TAN Cards: Content and Compliance

1. PAN Card:

a. Overview:

• What is PAN? PAN (Permanent Account Number) is a unique identification number issued by the Income Tax Department of India. It is used for tax purposes and for various financial transactions.

b. Content:

• Card Details: The PAN card contains the following details:
  • PAN Number: A 10-character alphanumeric identifier (e.g., ABCDE1234F).
  • Name: The full name of the cardholder.
  • Father’s Name: For individual PAN holders.
  • Date of Birth: For individual PAN holders or the date of incorporation for entities.
  • Photo: The cardholder’s photograph.
  • Signature: The cardholder’s signature.
  • Address: The address of the cardholder.
  • QR Code: For verification purposes.

c. Compliance:

• Application: Apply for a PAN card using Form 49A (for Indian citizens) or Form 49AA (for foreign citizens).
• Documents Required: Proof of identity, proof of address, proof of date of birth, and recent photographs.
• Update: Notify the Income Tax Department about any changes in personal details, address, or name.

2. TAN Card:

a. Overview:

• What is TAN? TAN (Tax Deduction and Collection Account Number) is a 10-digit alphanumeric number issued by the Income Tax Department for the purpose of deducting or collecting tax at source.

b. Content:

• Card Details: The TAN card typically includes:
  • TAN Number: A 10-digit alphanumeric identifier (e.g., ABCD12345E).
  • Name of the Company/Organization: The name of the entity to whom the TAN is issued.
  • Address: The registered address of the company/organization.

c. Compliance:

• Application: Apply for TAN using Form 49B.
• Documents Required: Proof of identity and address of the entity, and the details of the authorized person.
• Usage: Use TAN for depositing TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) with the government.
• Filing Returns: Ensure timely filing of TDS/TCS returns and issue TDS certificates to employees and other deductees.
• Update: Inform the Income Tax Department about any changes in the entity's details or address.