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All about your Permanent Account NumberEach applicant receives a Permanent Account Number (PAN), a Unique I
All about your Permanent Account Number
Each applicant receives a Permanent Account Number (PAN), a Unique Identification Number provided by the Income Tax Department. Any person, whether a resident, non-resident, or foreign citizen, is required to have a PAN in accordance with standards established by the Government of India in order to conduct financial activities like purchasing real estate, opening a bank account, or investing money in some manner.
A few of the entities that can apply for a PAN card:
Individual
HUF - Hindu Undivided Family
Partnership Firm, Private or Public Limited Company
Trusts
Local authorities
Foreign companies
Association of person, and a few others
How to apply for a PAN card
Fill Form 49A: The form must be completed in black ink and in block letters only. Only one character should be entered into each of the boxes available for filling out the data. Only when the applicant is an individual is a photograph required. For all other applicants, the photo field must be left empty. Only the space designated in the box should contain a signature or left thumbprint. It must not be made across the linked photo. If a thumbprint is utilised, a magistrate, notary, or official with a gazette should be a witness to it. Every applicant—aside from Individuals—must stamp their signature with a rubber stamp.
Submit identity proof
In different cases, different documentation is needed. For instance, an individual can submit the school leaving certificate or water bill, or voter’s identity card. There are a few other options available too. In the case of a company, a copy of its certificate of registration issued by the Registrar of Company is mandatory. In the case of a trust, a copy of a trust deed or the Certificate of Registration Number is required. This certificate is issued by the Charity Commissioner.