How to apply a Company PAN card?

For all entities and individuals earning income in India, having a permanent account number (PAN) is important. Hence, PAN is important for individuals and companies alike. Moreover, it is a set of unique characters that combine letters and digits. The Income Tax Act, 1961 makes it mandatory to get individual and company PAN. Any company incorporated and doing business in India will have to apply for PAN card for the company. So, as an entrepreneur you must be aware of how to apply a company PAN card. Don’t worry, LegalWiz.in is at your rescue again! We’re here to show you how to apply for a company pan card online. So, in this blog we will take a look at the process of how to apply for PAN card for a private limited company, see why it’s important and the list of documents to make it easy. Let’s dive in. 

What is a Company PAN Card?

The PAN card of a company refers to its unique Permanent Account Number assigned to it by the Income Tax Department. The PAN card is mandatory for all earning individuals and entities in India. Despite the different kinds of companies in India, PAN is an identification document common to all. Simply put, a company pan card is its unique ID. Moreover, you can apply for a company PAN card online easily. Keep reading to see how. 

Which businesses require a PAN Card?

There are many different business structures you need to choose for your business journey in India. Amongst those, the following entities need to know how to apply for company PAN card online: 

Sole Proprietorship Firm

This firm is informal, and one man army. Here, the firm is not different from its owner. Hence, you need to get a PAN in your own name if you are a sole proprietorship owner. Read more about the sole proprietorship firm registration process and advantages here. 

Partnership Firms

Even though not a separate entity, partnership firms require to file an income tax return at the end of each year. So, the partners of the firm also need to obtain the PAN card of the partnership firm to file ITR. Besides, even though the partnership firm registration process is not mandatory, PAN cards are. 

Limited Liability Partnership

These are formal and more popular business structures. This also makes it mandatory to obtain a PAN card for LLP, even if it is subject to tax exemptions as a startup. 

Private Limited Company

Company PAN cards for private limited firms are a must for facilitating all financial transactions and payment of taxes. In the list of documents required for company registration, PAN always tops the list. Thus, making it altogether more important to know how to apply for a PAN card for a private limited company in india.  

Apart from these, Hindu Undivided Families, Corporations, Public Companies, Trusts, etc. all also need PAN cards, if they are generating income from any sources in India. 

Documents required to apply for pan card for private limited company

Knowing how to apply for company PAN card online is not only important for the Indian Private Limited Companies, but also for the foreign companies established in India. So, the documents required for the pan card for private limited companies also change. Let’s take a look at both the categories of company pan card in detail. 

Documents required for Indian Company PAN

• Copy of incorporation certificate of the company granted by the registrar of companies; 
• Company’s address proof where its registered office is located; and
• Fees payable. 

Foreign Company PAN Card in India

• Apostilled copy of the certificate of incorporation from the respective government;
• The certificate allocated by Indian authorities to establish a business in India; and
• Demand draft for payment of fees along with the application.

Why do companies require a company PAN?

The company PAN card is more than just a legal mandate. It is an integral part of the entire company registration process. The purpose of a PAN card is not limited to act like a proof of identification. Apart from being an ID card, the company PAN card is important for:

Income Tax Identification

As stated above, company pan is an identification tool. So, it allows the income tax department to stay up to date with all the income earning entities of the country. This makes regulation of the post incorporation compliance requirement for companies much easier. 

Filing Income Tax

The PAN will link your company’s financial information to the tax payment you make. Read all about ITR Filing for Business Owners. 

Transactions across the Globe

The company PAN cards are strong identity proofs for the entity in question. So, this PAN will be helpful in facilitating international business transactions. 

GST Registration

For all companies engaged in supply of goods / services, GST Registration is a must. Moreover, PAN card is a mandatory submission in the documents required for GST Registration. 

How to Apply for Company PAN Card?

The Income Tax Department in association with other regulatory bodies have given two different modes of applying for PAN card of company. Let’s take a look at both. 

How to Apply for Company PAN Card Online?

First, let’s talk about the online process of applying for company PAN. 

Step one

Visit the NSDL website. Choose the form 49A or 49AA from the application type dropdown menu.

Step two

Select the category firm and then fill in details such as company name (in the last name box), company incorporation date, contact number or email ID.

Step three

Next, fill in details regarding the company, such as the company’s registration number, financial information, and mailing address.

Step four

Next you have to fill in your AO code. To find your AO code, you can go to the ‘AO Code Search for PAN‘ page.

Step five

Finally, upload all the required application documents and Pay the required fee. Documents include Proof of identity, proof of address, etc. After uploading, click on “Submit”, and your application for PAN for company has been successfully filed!

Step six

An acknowledgement receipt will be provided via email. It will have an Acknowledgement form (pdf) and an Acknowledgement number. You should note down the number as you can use this number to track the status of your PAN card.

Step seven

Finally, you have to print, duly-fill and send the acknowledgement form within 15 days to the NSDL office at the address given below. You also have to attach a copy of your company/firm’s registration certificate with it. Note: If you’d chosen demand draft as your payment method earlier, you have to send the demand draft with this form itself.

“Income Tax PAN Services Unit,

NSDL e-Governance Infrastructure Limited,

Firth floor, Mantri Sterling, Plot No. 341,

Survey No. 997/8, Model Colony,

Near Deep Bungalow Chowk, Pune – 411016.”

You should keep these things in mind:

• The envelope has to be super-scribed with ‘application for PAN with acknowledgement’.
• Application with the DD will be processed on receipt of proof and after payment.

Also Read: HR policies in India

How to Apply for PAN card for Private Limited Company Offline?

The process to apply for the company PAN card is straightforward, and you can initiate the process online as well. Companies incorporated in India will have to submit Form 49A to apply for the PAN card for the company. Besides, foreign citizens can also apply for the PAN card through form 49AA.

• Download the copy of form 49A and print it from the NSDL site or UTIITSL website;
• Fill in the form and attach the necessary documents;
• You will have to submit the form along with attachments to the nearest NSDL processing center. You can access the processing center’s address from the TIN website of the government; 
• The concerned department will grant you an acknowledgement receipt as proof of submission; and
• After the verification of documents, authorities will deliver the PAN card to your registered office of the company. The application fee will be Rs. 110. 

Also Read: PF registration process

Conclusion

In a nutshell, obtaining a PAN card for your company is not just a legal requirement but a vital step towards ensuring proper tax compliance and financial credibility. It serves as the company’s tax identity and enables the government to track its financial transactions. By acquiring a PAN card, you can easily submit income tax returns, handle remittances, and generate invoices. The application process can be conveniently completed online, ensuring a hassle-free experience. So, don’t delay any further—apply for a PAN card for your company today and pave the way for seamless financial operations and compliance.