Permanent Account Number (PAN) is a mandatory registration with the Income Tax Department of India required for all person and entities that are required to pay Income Tax and perform certain high-value transactions. The Income Tax Department uses the PAN to track all compliance and filings of an Income Tax Assesse using the PAN. PAN is a 10 digit alpha-number character, issued in the form of a laminated card. Once a PAN Card is issued, no continued compliance filings are necessary and it is valid for lifetime of the entity.
PAN is now required in India for entering into many basic transaction like obtaining a telephone connection or paying more than Rs.25,000/- to hotels or restaurants. Therefore, it is recommended for all Indian Residents and Foreign Nationals staying in India for an extended period of time to obtain PAN Card. Unicomply can help you obtain your PAN Card quickly and hassle-fee.