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PAN Registration

Introduction

Every person,—

 (i) if his total income or the total income of any other person in respect of which he is assessable under this Act during any previous year exceeds the maximum amount which is not chargeable to income-tax; or

(ii) carrying on any business or profession whose total sales, turnover or gross receipts are or is likely to exceed five lakh rupees in any previous year; or

(iii) who is required to furnish a return of income under section 139(4A); or

(iv) being an employer, who is required to furnish a return of fringe benefits under section 115WD,

and who has not been allotted a permanent account number shall, within such time, as may be prescribed, apply to the Assessing Officer for the allotment of a PAN.