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A Permanent Account Number, or PAN, is a necessary document for each taxpayer. It’s a one-of-a-kind 10-character string of letters and digits. The Income Tax Act of 1961 specifies the PAN card criteria. A PAN card is required for all tax-paying individuals, partnerships, corporations, and so on. It also functions as an identification for a variety of applications.

How to Apply for a Company PAN Card?

Apply for Business PAN Card Online Apply for Business PAN Card Offline
Applying for a PAN card for a business may be completed in a few simple steps, as detailed below:

Step 1: Go to the NSDL website and fill out the application form. From the drop-down option, choose Form 49A.

Step 2: Select ‘Firm’ from the ‘Application Type’ drop-down menu and enter information such as the firm name, date of establishment, and so on.

Step 3: Enter the company registration number, income information, and communication address.

Step 4: Enter the Assessing Officer (AO) Code (found on the NSDL website’s ‘AO Code Search for PAN’ page).

Step 5: Upload copies of the necessary papers and pay the cost.

Step 6: You will be given an acknowledgment number that will allow you to follow the status of your PAN application.

Step 7: Send the signed acknowledgment form to the NSDL office listed below within 15 days after completing the online application:

Income Tax PAN Services Unit,

NSDL e-Governance Infrastructure Limited,

5th Floor, Mantri Sterling,

Plot No.341, Survey No.997,8,

Model Colony, Near Deep Bungalow Chowk.

Pune- 411016

Step 1: The Form 49A must be downloaded and printed from the NSDL or UTIITSL websites.

Step 2: The form must be completed, and any supporting papers must be attached.

Step 3: The form and its annexures must be sent to the nearest NSDL processing location. The addresses of all processing locations may be found on the government’s TIN website.

Step 4: They will give an acknowledgment as evidence of the submitted papers.

Step 5: The PAN card will be sent to the company’s registered office after the documents have been reviewed. This requires an Rs. 110 application fee.

Do you need a Business PAN Card?

Any corporate organization conducting business in India, whether registered in India or overseas, needs a PAN card. A PAN card is required for every individual or entity doing business with an Indian company. It is also necessary for everyone involved in earning money outside of India, regardless of whether the firm is incorporated, has a permanent establishment, or an office in India.

A list of bodies that require PAN Cards in India

  • Company
  • Partnership firm
  • Association of persons
  • Limited Liability Partnership (LLP)
  • Body of Individuals
  • Trust
  • Incorporations
  • Limited companies
  • Private firms
  • Associations
  • Foreign institutional investors
  • Hedge funds

Documents Needed to Get a PAN Card for a Company

In order to apply for a PAN card in India, organizations must provide the following papers together with the application form:

  • Identity/address verification:
  • Copy of Certificate of the Incorporation
  • Copy of No Objection Certificate issued by the Ministry of Corporate Affairs.

Guidelines for a Company PAN Card

  • Read the instructions on the form and make sure all supporting papers are included before applying.
  • In the case of offline forms, the form should be filled out in block letters using a black pen.
  • The form should only be signed by the CEO of the firm’s authorized signatory.
  • The PAN Department provides a customer service line where you may get information and ask questions.
  • The mode of payment will change depending on whether the firm is Indian or overseas.

Why does a Business Need a PAN Card?

  • It is a reference number that the Income Tax Department uses to trace your financial activities. You will be compelled to include your PAN on all transactions and tax documents.
  • Even if you are not required to pay taxes, you must have one if you earn money.
  • Companies, whether registered abroad or in India, are obligated to pay tax on transactions conducted in the nation. Without the PAN, the government will deduct the maximum amount of tax.
  • Your PAN will assist you in getting bills paid, remittances, and completing income tax forms.
  • Companies, like people, must furnish their Tax Registration Number (TRN) to whoever is paying them. A TRN can only be obtained if the firm possesses a PAN.
  • In the case of foreign corporations, it was made necessary by Section 206AA of the Finance Act of 2009, which was revised in 2009. All international parties who offer or produce a payment to a counterpart in India would be required to disclose their PAN under this modification. This covers not just persons, but also corporations, partnerships, limited liability companies, and any other type of entity.
  • In the absence of a PAN, the government will levy withholding tax, which might amount to more than 30% of the entire invoiced payment.

PAN Card for Company – FAQs

Q1. What documents are required to apply for a PAN Card for a partnership firm?

Certificate of Registration issued by the Registrar of LLPs.

Q2. What do I need to keep in mind while mailing the acknowledgment receipt?

  • The envelope should be labeled ‘Application for PAN’ -N- Acknowledgement Number’.
  • It must arrive at the NSDL office within 15 days after the date of the company’s online PAN application.
  • Applications sent by demand draft will be handled only upon receipt of appropriate evidence and payment realization.

Q3. How to apply for a PAN Card for a foreign company?

The PAN Card application process for a foreign company will be the same as of an Indian company, but the documents to be submitted will be different. 

The following supporting documentation must be given by international firms when applying for a PAN card.

Submit any of the following as identification and address proof:

  • Copy of Certificate of Registration issued in the applicant’s home country, suitably certified by “Apostille” or by the Indian Embassy, High Commission, or Consulate in the applicant’s home country, or authorized officers of overseas branches of Scheduled Banks registered in India
  • Copy of registration certificate issued in India by Indian authorities approving the establishment of an office in India.

Q4. Is it mandatory for companies to have a PAN Card?

A PAN Card is required for all people, businesses, partnerships, and other entities. If you own a business, your company pan card serves as your tax identification. In India, regardless of whether your company is formed in India or overseas, you must obtain a Business PAN Card.

Q5. What are company PAN card details?

A Permanent Account Number (PAN) is a 10-character alphanumeric identification code. The Income Tax Department issues it to all judicial organizations designated under the Indian Income Tax Act, 1961. The basic goal of a PAN is to identify all financial transactions of an individual or corporation in order to avoid tax evasion.

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