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| Permanent account number |
Permanent account number (PAN) means a number which the assessing officer may allot to any person for the purpose of identification.
PAN has ten alphanumeric character and it is used in the form of laminated card.
Application of PAN. If an assessee has not allotted A Permanent Account Number he must apply for it in form number 49 within the prescribed time. The assessing officers has also got power to allot to any other person a Permanent Account Number if tax is payable by such person.
Quoting PAN. Once a Permanent Account number has been allotted, such member must be quoted in all returns, correspondence with income tax authorities, challans for payment and in all document prescribed by the board.
It helps in linking the aforesaid document to his assessment records to facilitate quick disposal of his assessment and refund claim.
The assessee must intimate to the Assessing Officer about any change in the address, name Or nature of business carried on by him.
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