Oldest Indian Tax Advisors for You

PAN – Permanent Account Number is issued by the Indian Income Tax Department in India for identification of every individual and incorporated body. Every Individual or body can only have a unique permanent account number. The PAN is used by the Tax payers to maintain compliances of the Income Tax such as filling of Income Tax Return, Depositing Income Tax, Deducting Withholding Taxes and much more. For all correspondence and identification Income Tax PAN is required.

Who is Required to Have a PAN Card ??

PAN is to be obtained by following persons:

Every person if his total income or the total income of any other person in respect of which he is assessable during the previous year exceeds the maximum amount which is not chargeable to tax.

Every person who intends to enter into the following specified financial transactions in which quoting of PAN is mandatory

Specified Financial Transactions

1. Sale or purchase of a motor vehicle or vehicle
2. Opening an account [other than a time-deposit referred to at Sl. No.12 and a Basic Savings Bank Deposit Account] with a banking company or a co-operative bank.
3. Making an application to any banking company or a co-operative bank to which the Banking Regulation Act, 1949 (10 of 1949), applies (including any bank or banking institution referred to in section 51 of that Act) or to any other company or institution, for issue of a credit or debit card.
4. Opening of a demat account with a depository, participant, custodian of securities or any other person registered under sub-section (1A) of section 12 of the Securities.
5. Payment to a hotel or restaurant against a bill or bills at any one time exceeding Rs.50,000/- in cash
6. Payment in connection with travel to any foreign country or payment for purchase of any foreign currency at any one time exceeding Rs.50,000/- in cash.
7. Payment to a Mutual Fund for purchase of its units for an amount exceeding Rs.50,000/-
8. Payment to a company or an institution for acquiring debentures or bonds issued by it for an amount exceeding Rs.50,000/-
9. Payment to the Reserve Bank of India, constituted under section 3 of the Reserve Bank of India Act, 1934 (2 of 1934) for acquiring bonds issued by it for an amount exceeding Rs.50,000/-
10. Deposit with i)Banking Company and ii) Post office, cash deposits exceeding Rs.50,000/- during any one day
11. Purchase of bank drafts or pay orders or banker’s cheques from a banking company or a co-operative bank for an amount exceeding Rs.50,000/- in any one day
12. A time deposit with,—

(i)   A banking company or a co-operative bank

(ii)  A Post Office;

(iii)  A Nidhi referred to in section 406 of the Companies Act, 2013 (18 of 2013); or

(iv)  A non-banking financial company which holds a certificate of registration under section 45-IA of the Reserve Bank of India Act, 1934 (2 of 1934).

13. Payment for one or more pre-paid payment instruments, as defined by Reserve Bank of India under section 18 of the Payment and Settlement Systems Act, 2007.
14. Payment as life insurance premium to an insurance company for an amount aggregating to more than fifty thousand rupees in a financial year
15. A contract for sale or purchase of securities (other than shares) as defined in clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956).
16. Sale or purchase, by any person, of shares of a company not listed in a recognised stock exchange for an amount exceeding one lakh rupees per transaction.
17. Sale or purchase of any immovable property for an Amount exceeding ten lakh rupees or valued by stamp valuation authority referred to in section 50C.
18. Sale or purchase, by any person, of goods or services of any nature for an Amount exceeding two lakh rupees per transaction.

What We Do

We would like to introduce ourselves as a firm of chartered accountants practising in India for over many years and pioneer in Corporate Advisory, Taxation and Accounting.

We are one of the oldest firms in India and a pioneer in taxation for Corporate, Non Resident Indians and Foreign Nationals.

For Filling a PAN Card Application we need the following documents from your side

1 . Proof of Identity:

•   2 Passport Size Latest Colour Photographs (Mandatory)
•   Copy of passport (Mandatory)
•   Copy of Person of Indian Origin card issued by the Indian Government, OR
•   Copy of Overseas Citizens of India OCI card issued by the Indian Government, OR
•   Copy of other national or citizenship Identification Number or Taxpayer Identification Number duly attested by Apostille or by Indian Embassy or High Commission or Consulate in the country.

2 . Proof of Address:

•   Copy of passport (Mandatory)
•   Copy of Person of Indian Origin (PIO) card issued by the Indian Government, OR
•   Copy of Overseas Citizenship of India (OCI) card issued by the Indian Government, OR
•   Copy of other national or citizenship Identification Number or Taxpayer Identification Number
•   Copy of bank account statements in the country of residence, OR
•   Copy of non-resident external bank account statements in India, OR
•   Copy of registration certificate which is issued by Foreigner’s Registration Office and shows Indian address, OR
•   Copy of Visa granted by the foreign country and/or copy of appointment letter issued by an Indian company and original certificate of Indian Address issued by employer

Attestations

The Documents are required to be duly Apostille or Attested by Consulate of Indian Embassy or High Commission or Consulate in the country where the PAN applicant is permanently residing.

Procedure for PAN Application

We, Sunil K. Khanna & Co. provide complete assistance for obtaining a Permanent Account Number in India. Our process starts when you send us preliminary documents before attestation for our internal scrutiny. Once it is scrutinised by our expert team we confirm you for getting them attested/ Appostiled in your home country. After Attestations the documents are sent to us for filing your application of PAN Card in India. Once we file the documents we send across the acknowledgement number for your reference and track the application internally. Once the number is allocated we send you a communication for allotment of Permanent Account Number. The Original PAN Card is dispatched by the Authority directly at your registered address through speed post. We send you the dispatch details of the courier and upon successful receipt of the PAN Card we close our case. The process turn around time is around 15-20 Days from the successful filing of application.

Fee Payable

We, Sunil K. Khanna & Co. charge a consolidated fee of Rs.5,000/- for the complete process which includes the Authority Filling Fee of Rs.1,100/-, documentation and other incidental charges incurred by our firm. The Fee is payable along with the filing of application. We only charge you once while filing an application. No Extra Charges would be levied for repeated communications with the authority in case of any discrepancy.

We would like to inform you that we offer customised services to our Non Residents and Foreign National Clients which broadly include the following :-

a)   Obtaining a Permanent Account Number in India

b)   Maintaining Bank Accounts &  Managing Compliances

c)   Filling & Processing of Tax Returns & Managing Compliances

d)   Maintaining Investment Records and Managing Compliances

e)   Managing Inherited Investments & Assets including buying & selling

f)    Assisting Process of Repatriation of Funds from India to Overseas Accounts & Vice-versa

g)   Seeking Approvals from Regulatory Authorities such as Reserve Bank of India, Income Tax Department etc.

h)   Filling & Processing of Property Tax     Returns & Managing Compliances

i)     Valuation & Inspection of Assets

j)   Managing compliances for Returning  Non Residents to India

k)  Setting Up Business in India & Managing Compliances