Permanent Account Number (PAN) is an unique alphanumeric identification number issued to all the entities and individuals under the Indian Income Tax Act, 1961 that acts as a national identification of the entity/ individual throughout the country and is mandatory requirement for residents under Income Tax Act.
Requirements of PAN:
Preparation of form 49A for filing with the Department.
Obtaining the documents and collating the same along with the filled form 49A
Submission of duly signed form 49A along with documents with the tax department.
– Yes. PAN can be applied both manually as well as online.