export to India
One of our customers has told us we now need a PAN card to eport to India.
Is this correct?
What is best way of applying?
To apply for PAN you will find all the information you need at following:
Permanent Account Number (PAN) is a ten-digit alphanumeric number, issued in the form of a laminated card, by an Assessing Officer of the Income Tax Department.
It is mandatory to quote PAN on return of income, all correspondence with any income tax authority and challans for any payments due to Income Tax Department.
Likewise, PAN has to be mentioned for making a time deposit exceeding Rs. 50,000/- with a Bank or Post Office or depositing cash of Rs. 50,000/- or more in a Bank
It is compulsory to quote PAN on return of income.
1.All existing assesses or taxpayers or persons who are required to furnish a return of income, even on behalf of others, must obtain PAN.
2.Any person, who intends to enter into economic or financial transactions where quoting PAN is mandatory, must also obtain PAN.
3.The Assessing Officer may allot PAN to any person either on his own or on a specific request from such person.
The following categories of persons are not required to obtain or quote PAN:
1. Persons having only agricultural income and do not have any taxable income. Such persons will file a declaration (Form 61) in respect of transactions where quoting of PAN is mandatory;
3. Central Government, State Governments and Consular Offices in transactions in which they are the payers.
We ship clients goods regularly to India and don not see this mentioned anywhere unless under a letter of credit shipment.
We can assist you with your shipping needs as India is one of our main services. If you need further assistance on the shipping side ie quotes and shipping docs please email me or contact me as below.
STI Global Logistics Ltd
Tel: +44 (0)1268 289653