Form 49AA

Relevant Statute

• Section 139A of the Income-tax Act, 1961
• Rule 114 of the Income-tax Rules, 1962

Legal Provision

• Form 49AA is the statutory form prescribed for non-resident individuals and foreign entities to apply for a Permanent Account Number (PAN).
• If PAN allotment has been assigned to a specific Assessing Officer by the Chief Commissioner/Commissioner submit to that officer, Otherwise to the jurisdictional Assessing Officer.

Applicable for

• The following non-resident persons/entitiesmust apply for PAN using Form 49AA:

• Individual not being an Indian citizen
• LLP registered outside India
• Company registered outside India
• Firm formed or registered outside India
• Association of Persons (Trusts) formed outside India
• Any other entitysuch as AOP (other than trusts), Body of Individuals, Local Authority, or Artificial Juridical Person registered outside India

Effective from:

• Form 49AA was introduced by the IT (Seventh Amdt.) Rules, 2011, w.e.f. 1-11-2011

Pre-requisite While Filing the Form

• The application must be accompanied by documents as per Rule 114(4), including:
  • Proof of Identity (POI)
  • Proof of Address (POA)
  • Proof of Date of Birth, where applicable

Due Date

• Varies based on the nature of transaction/income, with the earliest deadline being 7 days before the proposed transaction(as per Rule 114BA).

How to file it

• PAN application is to be filed online at https://onlineservices.proteantech.in/paam/endUserRegisterContact.htmlor offline at any PAN designated centres.

Consequences of Non-Filing

• Non-issuance of PANleads to:

• Penalty under section 272B: 10,000