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TMI BlogPermanent Account Number (PAN) - Section 139A - General ProvisionsX X X X Extracts X X X X X X X X Extracts X X X X ..... al sales, turnover or gross receipts are or is likely to exceed ₹ 5,00,000/- in any previous year; or (iii) He is required to furnish a return of income u/s 139(4A) , ( i.e. , return of trust and charitable institutions), or (iv) being an employer, who is required to furnish a return of fringe benefits under section 115WD (v) being a resident, other than an individual, which enters into a financial transaction of an amount aggregating to ₹ 2,50,000/- or more in a financial year; or (vi) who is the managing director, director, parting anything contained in this Act, every person who is required to furnish or intimate or qner, trustee, author, founder, karta, chief executive officer, principal officer or office bearer of the perso ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lot a permanent account number to such person forthwith. [ Section 139A(3) ] Time limit for submitting application for allotment of PAN ( For more details refer this chapter ) PAN TO BE QUOTED IN CERTAIN CASES On allotment of permanent account number, every person shall: Quote such number in all his returns to, or correspondence with, any income-tax authority; Quote such number in all challans for the payment of any sum due under the Act; Quote such number in all documents pertaining to such transactions as may be prescribed by the Board in the interests of the revenue, and entered into by him. [ Read with Rule 114B of income Tax Rules ] intimate the Assessing Officer any change in his address or in the name and nature of his business on th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ious year will be nil. [ Section 139A(5B) ] Every buyer or licensee or lessee referred to in section 206C shall intimate his permanent account number to the person responsible for collecting tax referred to in that section. [ Section 139A(5C) ] Every person collecting tax in accordance with the provisions of section 206C shall quote the permanent account number of every buyer or licensee or lessee referred to in that section- ( i ) in all certificates furnished in accordance with the provisions of section 206C(5); ( ii ) in all returns prepared and delivered or caused to be delivered in accordance with the provisions of section 206C(5A) or (5B) to an income-tax authority; ( iii ) in all statements prepared and delivered or caused to be deli ..... X X X X Extracts X X X X X X X X Extracts X X X X
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