Permanent Account Number in Lucknow, Uttarpradesh is a unique 10-digit alphanumeric identifier issued by the Income Tax Department of India to individuals, companies, and other entities that are required to pay taxes. PAN serves as a primary key to track and identify tax-related transactions of a taxpayer.
PAN card in Lucknow is mandatory for most financial transactions in India, such as opening a bank account, investing in stocks, purchasing property, and paying taxes. PAN helps the government to track and monitor tax evasion, as every financial transaction above a certain threshold must be reported to the Income Tax Department along with the PAN of the taxpayer.
The legal provisions governing PAN are specified under Section 139A of the Income Tax Act, 1961, and the Income Tax Rules, 1962. As per these provisions, every person who is required to file an income tax return must apply for a PAN.
The process of obtaining a PAN in Lucknow, Uttarpradesh involves the following steps:
- Application: The applicant must fill and submit Form 49A or Form 49AA (for foreign citizens) along with the required documents to the authorized PAN service provider, such as NSDL or UTIITSL. The form can be submitted online or offline.
- Verification: The service provider verifies the application and supporting documents, and if found satisfactory, assigns a unique PAN number to the applicant. The PAN card is then dispatched to the address mentioned in the application.
- Correction: In case of any errors or discrepancies in the PAN card, the applicant can apply for correction or modification by submitting Form 49A along with the required documents.
The documents required for obtaining a PAN in India are as follows:
- Proof of identity, such as Aadhaar card, passport, voter ID card, driving license, or any other government-issued identity card.
- Proof of address, such as Aadhaar card, passport, voter ID card, driving license, bank statement, or utility bill.
- Photograph of the applicant.
The time taken to obtain a PAN in India depends on the mode of application and the efficiency of the PAN service provider. Generally, the online mode is faster and may take 2-3 business days, while the offline mode may take up to 15 business days.
The cost of obtaining a PAN in India depends on the mode of application and the PAN service provider. Currently, the fee for applying for a PAN is Rs. 116 for Indian citizens and Rs. 1,020 for foreign citizens. However, the fee may change from time to time as per the government’s notification.