A quick and easy guide for PAN registration in Nepal.
According to the new rule of the Government of Nepal, beginning from fiscal 2019-20, all salaried workers, including both government and private firms have to compulsorily obtain Permanent Account Number (PAN).
The reason for implementing this rule is to track revenue leakages. By making PAN mandatory, the government will be able to track the actual amount of tax that an individual has been paying out of his or her earnings and whether salary expenses as recorded in the accounting system of the employer are correct or not. All employers have to record Tax Deducted at Source (TDS) in the respective accounts of their employees and in case they do not own a PAN, then the government does not validate the employer’s payment of salaries to its employees.
With this new rule in place, people are hurrying to get their PAN registered. However, many are unaware of the process entailing the PAN registration and some even don’t know how and where it can be done. To get this problem sorted, we have actually tried and tested the easiest and fastest method for PAN registration and obtaining your PAN.
Follow these simple steps for your PAN registration in no time:
If you are confused regarding registering in PAN or VAT, visit our blog on Tax Registration here.