TYPE OF PAN CARD

There are three types of applications:

1) Application for allotment of PAN (Form 49 A) 
This application should be used when the applicant has never applied for a PAN or does not have PAN allotted to him.

2) 'Request for New PAN Card or/and Changes or Correction in PAN data' 
This application should be used when PAN has been allotted already to applicant but a new PAN card is required or when data associated with the PAN (e.g. name of applicant / date of birth / address) is required to be updated in the records of Income Tax Department.

3) Application for allotment of PAN (Form 49AA) - applicable for foreign citizens 
This form should be used when the applicant has never applied for a PAN or does not have PAN allotted to him. An applicant can visit Income Tax Department (ITD) website to find whether a PAN has been allotted to him or not.

PAN card is allotted by the income tax department of India to an Individual, Company, Hindu Undivided Family (HUF), Partnership firms, NGO’s as well as Foreign Citizens. Basically all tax paying entities possess a PAN Card.

PAN Card for Individuals

A PAN card for individuals is used to keep track and link all financial transactions that attract tax, with the IT department calculating the total taxable amount due on the basis of this data.

PAN Card for Companies

A PAN card for organizations is similar to that for individuals, with the exception that there is no photograph on the physical PAN card. Also in lieu of the date of birth mentioned on individual PAN cards, the date of registration of the company/organization is mentioned.

PAN for foreign citizens in India

PAN is an important document for foreign citizens also, who wish to undertake business in India or wish to invest in India. Procedure to obtain PAN is same as applicable for Indian citizens. However, the application is required to be filled using Form 49AA meant for foreign citizens and submitted at any of the authorized PAN Service Centre

The IT Department calculates the amount of tax the company/organization is required to pay through its various transactions, all of which now require quoting the PAN card.