How to Get an NGO PAN Card?
Every organization is required to have a PAN card. Even an NGO is not an exception to the tax authorities. So, if you’re running an NGO, you need to have a Permanent Account Number. After all, you can’t even open a bank account today without one. Day-to-day transactions and tax payments are all tracked to a PAN. Particularly since getting one is so simple, it’s best you get one sooner rather than later.
Applying for an NGO PAN Card
The prescribed application forms and the process for submission of the application is now relatively easy for individuals with an internet connection. The application can be made online on the website of NSDL e-Governance. The online application process for the aforementioned websites is briefly described as follows:
1. Log on to the website of NSDL e-Gov. (https://www.onlineservices.nsdl.com)
2. Submit application details online. You will be asked for basic information about the entity and its members;
3. Make online payment of prescribed application fee (Rs. 67).
4. Pursuant to successful submission of the online application, an acknowledgement receipt is generated. The acknowledgement receipt must be saved and printed. Recent photographs must then be affixed on the receipt and the applicant must sign over the receipt in the space provided.
5. The receipt must then be forwarded to NSDL e-Gov along with supporting documents for further processing. You need to send hard copies of documents because of the importance of the PAN.
6. The status of the PAN application can then be traced online. Typically, it takes three weeks for the PAN to arrive at the address provided.
2. Submit application details online. You will be asked for basic information about the entity and its members;
3. Make online payment of prescribed application fee (Rs. 67).
4. Pursuant to successful submission of the online application, an acknowledgement receipt is generated. The acknowledgement receipt must be saved and printed. Recent photographs must then be affixed on the receipt and the applicant must sign over the receipt in the space provided.
5. The receipt must then be forwarded to NSDL e-Gov along with supporting documents for further processing. You need to send hard copies of documents because of the importance of the PAN.
6. The status of the PAN application can then be traced online. Typically, it takes three weeks for the PAN to arrive at the address provided.
Why Pan Card is required for NGO
Under the current Income Tax Act and all banking and money transaction for the income- tax assessees including NGO, it is totally essential for to mention the PAN number in the accompanying archives:
To open Bank account and make certain bank transaction it is necessary to mention PAN.
For the Income Tax return and in all money transaction related correspondences with the Income Tax Department and other Government Departments. Government of India has made PAN card necessary for getting funds and to get the funds NGO must be registered online with the NGO Partnership DARPAN website of Niti Ayog (Planning Commission).
For all kind of documents and challans for payment of any tax, interest and other transactions applicable under the Income-tax Act.
For all documents related with the following transactions :
sale and purchase of any immovable property in excess of certain amount that is decided by banks and other concerned authorities.
At the time of sale and purchase of a motor vehicles other than a two wheeler.
For deposit exceeding 50 thousand rupees in the bank accounts and Post Offices.
For transfer, sale or purchase of shares, stocks and other securities in excess of 10 lakh rupees.
Some times it is required to apply for a telephone connection or to get cellular mobile number.
Payment at certain places that excess of Rs. 25,000 at a time.
PAN card is required when the income of the assesses NGO is liable to deduction of tax at source, the assessee NGO is required to provide the PAN to the company or body who is for deducting tax at the source, so it can be adjusted in Income Tax returns.
To open Bank account and make certain bank transaction it is necessary to mention PAN.
For the Income Tax return and in all money transaction related correspondences with the Income Tax Department and other Government Departments. Government of India has made PAN card necessary for getting funds and to get the funds NGO must be registered online with the NGO Partnership DARPAN website of Niti Ayog (Planning Commission).
For all kind of documents and challans for payment of any tax, interest and other transactions applicable under the Income-tax Act.
For all documents related with the following transactions :
sale and purchase of any immovable property in excess of certain amount that is decided by banks and other concerned authorities.
At the time of sale and purchase of a motor vehicles other than a two wheeler.
For deposit exceeding 50 thousand rupees in the bank accounts and Post Offices.
For transfer, sale or purchase of shares, stocks and other securities in excess of 10 lakh rupees.
Some times it is required to apply for a telephone connection or to get cellular mobile number.
Payment at certain places that excess of Rs. 25,000 at a time.
PAN card is required when the income of the assesses NGO is liable to deduction of tax at source, the assessee NGO is required to provide the PAN to the company or body who is for deducting tax at the source, so it can be adjusted in Income Tax returns.
Provision of Penalty punishment applicable if not having and providing PAN
If the members and authorised office bearere of NGO do not provide PAN or not able to provide PAN that is necessary to provide under section 139A of Income Tax Act then it is subjected to penalty/punishment under area 272B of Income Tax Act, embedded by the Finance Act, 2002. A certain amount have to bear as penalty after such associations are subsequent after giving a reasonable chance of being listened. It might be noticed that punishment is leviable for not holding a candle to the current situation for PAN, as well as for inability to quote PAN in the endorsed reports, or inability to personal such PAN when required, or citing or providing a number which is incorrect. The penalty can not be applied or may be relief provided for peanlty if the assessee NGO demonstrates that there was certain reason for not submitting or providing PAN.
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