Getting a Permanent Account Number (PAN) card is essential if you are administering a trust or society in India in order to control the organization's financial operations.
An exclusive 10-digit alphanumeric code known as a PAN card is given out by the Indian Income Tax Department. Any organisations, including trusts and societies, that engage in financial activities are required to obtain a PAN card.
We'll go over the simple procedures for obtaining a PAN card for a trust or organisation in this article.
Introduction
As previously stated, a PAN card is required for any entities, including trusts and societies, that engage in financial operations.
The Income Tax Department is informed of every financial transaction thanks to the PAN card, which also aids in the identification of the organisation.
The following section will go over the necessary paperwork and the application procedure for obtaining a PAN card for a trust or society.
Documents needed to apply for a PAN card for a Trust or Society
The following documents must be prepared before beginning the PAN card application process:
- a duplicate of the trust agreement or society registration document
- a replica of the identity documentation for the trust or society's designated signatory (such as Aadhaar card or voter ID card)
- a copy of the authorised signatory of the trust's or society's proof of address (such as electricity bill or telephone bill)
- a copy of the PAN card of the trust or society's authorised signatory (if available)
Obtaining a PAN card for a trust or society: steps
A trust or organisation can obtain a PAN card through an online or offline approach.
application process online
The steps to apply for a PAN card online are as follows:
- Choose the option to apply for a new PAN card on the NSDL or UTIITSL official websites.
- Choose Trust or Society as the PAN card application category.
- Enter the trust or society's information, the signatory who is authorised, and any other necessary information.
- Submit the required paperwork, which should include the trust deed or society registration certificate as well as the authorised signatory's identity and address evidence.
- Online PAN card application fees must be paid.
- Send in the application.
- A distinct 15-digit acknowledgement number will be generated after the application is submitted, and you can use it to check on the status of your PAN card application.
offline method of application
The steps to apply for a PAN card offline are as follows:
- At the NSDL or UTIITSL website, get the PAN card application form for Trusts or Societies.
- Fill in the necessary information on the trust or society, the authorised signature, and any other necessary information.
- Include the relevant paperwork, such as the trust deed or society registration certificate, as well as the authorised signatory's identification and address verification.
- Send the application form and application fee to the nearby NSDL or UTIITSL centre.
- A distinct 15-digit acknowledgement number will be generated after the application is submitted, and you can use it to check on the status of your PAN card application.
Documents needed to apply for a PAN card for a Trust or Society (Offline mode)
The PAN card application form must be submitted in offline mode with the necessary supporting documents:
- a duplicate of the trust agreement or society registration document
- a duplicate of the authorised person's identity document
- a copy of the authorised signatory of the trust's or society's proof of address
- a copy of the PAN card of the trust or society's authorised signatory (if available)
- PAN card application fees should be paid by demand draught or check.
Conclusion
A trust or society can easily obtain a PAN card, which is necessary for controlling the organization's financial transactions.
A copy of the trust deed or society registration certificate, proof of the authorised signatory's identity and residence, and a copy of the authorised signatory's PAN card are all essential documents for the PAN card application (if available).
The application process can be completed online or offline, and after submission, a distinct 15-digit acknowledgement number is generated to let you monitor the progress of your PAN card application.
FAQs
A PAN card is required for a trust or society, but is it required?
Yes, including trusts and societies, any entities that engage in financial activities must have a PAN card.
What is the cost to apply for a PAN card as a trust or society?
For a trust or organisation, the PAN card application fee is Rs. 1,000 for Indian citizens and Rs. 10,000 for foreigners.
How long does it take for a trust or society to get a PAN card?
Typically, the PAN card is sent out within 15 to 20 days of the application being submitted.
Can I withdraw or cancel my PAN card application?
Yes, the PAN card application may be withdrawn or cancelled by sending a written request and payment receipt to the NSDL or UTIITSL.
