We have all encountered situations where a vendor or service provider has asked us to provide a “Permanent Account Number (PAN)” or provide a copy of the Personal Account Number as a supporting document. The most common is to open a bank account. This is because Section 139A(5)(c) of the Income Tax Act has set the rules when a person is required to quote or compulsorily give a PAN.
Just as one needs to give the PAN number to open a bank account, many translations as stipulated by law require you to mention the PAN number in the documents. One of these requirements is to view a file frying pan Buyer and seller date 2,00,000 . bills or higher.
In simple words, if you, as a seller, raise an invoice of 2,00,000 or more, it is necessary for you to print your PAN number with the buyer’s PAN number on the invoice as a separate field
Let’s discuss with an example.
Ganesh Traders, a trader of hardware goods located in Maharashtra, is supplying goods worth 2,50,000 to Maruthi Traders of Karnataka.
Here, Ganesh Traders must mention PAN as well as PAN of Maruthi Traders in the invoice. The PAN for both parties will be printed in a separate field on the invoice.
How to print PAN on invoices in TallyPrime
With TallyPrime, you can easily configure the PAN for the company as well as for the buyer. All you have to do is mention the PAN in the legal details of the company and the buyer’s ledger. Once selected, TallyPrime will automatically print the PAN on all invoices. You can follow the below steps to configure and print the PAN number on the invoices
Company PAN Configuration
To configure the company’s personal account number, go to “Features” by pressing F: 11 > Ctrl + I for more details > PAN / CIN details > mention the PAN number and accept the screen.
Party PAN Configuration
To provide PAN details to buyers, go from Gateway of Tally > Alter > Ledger > Select Party Ledger > Recall PAN and accept to save changes.
PAN printing on invoices
To print invoices, make sure that “PAN / Income Tax Number Indicator” is enabled for the company and party.
To enable, from Sales Invoice, press Ctrl + P for ‘Print Current’ > Configure > Type ‘PAN’ > Enable ‘Show Income Tax Number / Company Account Number and Company Ledger.
Invoice with PAN in TallyPrime
PAN printing on cash bills
If you are making cash sales and would like to print your Personal Account Number (PAN) on invoices, you can follow any of the options below:
- Option -1: If the party ledger is created with PAN details
On the Buyer Details screen (Supplementary Screen), select the Party Ledger.
- Option -2: If the party ledger is not available
You can either create a ledger and use it as mentioned in the above option. Otherwise, you can manually add the PAN as part of the address details under the Buyers Details screen (Supplementary Screen)