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of <h1>PAN Application Process Under Rule 114: Requirements, Deadlines, and Penalties for Delayed Aadhaar-PAN Linking</h1> Rule 114 of Income Tax Rules, 1962 establishes procedures for permanent account number (PAN) applications. Applications must be submitted in Form 49A or 49AA to appropriate Assessing Officers. Individuals with Aadhaar numbers may be deemed to have applied for PAN without submitting additional documents. Various deadlines apply based on income thresholds, business turnover, or financial transactions. Required documentation varies by applicant type (individuals, HUFs, companies, firms, trusts) and includes proof of identity, address, and date of birth. Specific provisions exist for Indian citizens and foreign entities. Penalties apply for delayed Aadhaar-PAN linking: 500 if within three months of deadline, 1,000 thereafter.
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