How to Get PAN Card for Company?

Permanent Account Number (PAN) is a 10 digit alphanumeric number that is issued by the Income Tax Department to every person who has filed an application in this regard. Through PAN card number, the taxpayer is connected with the Tax Department. A PAN card is a mandatory requirement for the incorporation of various forms of the company like the private limited company, public limited company, one person company, etc.

Why is it important to have a PAN card number?

As per the Income Tax Act, 1961, it is mandatory for individuals and any form of entity to generate a PAN number while the payment of counterpart in India. Any person that fails to do so will be charged with the concealing tax which can be at the rate of more than 30% of the total invoiced payment i.e., the government will deduct tax at the highest rate possible.

Also, having a valid PAN number will grant benefits while paying the invoices, income tax returns and remittances to the holders.

How to Get a Pan Card for a Company?

To apply for a Pan Card for a company, the following steps need to be taken:

Step 1: You must fill in the application form on the Protean eGov Technologies Limited website. For this, you must select Form 49A from the drop-down menu visible on the screen.

Step 2: As your next step, you must select 'Firm' from the 'Application Type' and add in all the necessary details such as company name, date of incorporation, etc.

Step 3: Now, fill in the company details such as its registration number, financial information and the mailing address. 

Step 4: Now, fill in the Assessing Officer (AO) Code. You can easily find the code on the 'AO Code Search for PAN' available on the Protean eGov Technologies Limited website.

Step 5: Upload copies of all the relevant documents and pay the prescribed fee.

Step 6: Once you are done with the payment, you will receive an acknowledgment number, which you can use to easily track the status of your company’s PAN application.

Step 7: Now, you need to send the signed acknowledgement form within 15 days of filing the online application to the Protean eGov Technologies Limited office. Its address is mentioned below:

Income Tax PAN Services Unit,

Protean eGov Technologies Limited,

5th Floor, Mantri Sterling,

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

Model Colony, Near Deep Bungalow Chowk.

Pune- 411016

Documents required

Following documents are required for obtaining a PAN card number-

1. Any one of the following documents shall be submitted as the Proof of identity
   • A valid copy of the certificate of incorporation
   • A valid copy of the business registration certificate
   • An authentic copy of articles of association
2. For the proof of address a valid copy of the company's bank statement bearing the company's name and full current address for any kind communication. The PAN card will be delivered to this address.

Documents Required for Pan Card for Foreign Company

For a foreign company to apply for a pan card, some supporting documents need to be submitted such as:

• Proof of ID and Address: Copy of Registration Certificate issued in the applicant’s country and duly attested by an Apostille or Indian Embassy, High Commission, or Consulate there, or by a representative of an overseas branch of a Scheduled Bank having Indian registration.
• Copy of India-issued Registration Certificate for approval to set up an office in India by Indian authorities.
• To pay the Income Tax Department the PAN Card’s issuance fee, the applicant will require a bank draft. The amount that is due has to be paid in INR (Indian Rupees). For this, you can buy a foreign currency draft made out to Pan or UTIITSL, Protean eGov Technologies Limited. The destination of this draft will be Mumbai. 

Tips on Pan Card for Companies

Here are a few tips on the Pan Card for the companies:

• Carefully read the instructions mentioned on the form and make sure that all the supporting documents are attached when the application is sent.
• In case of offline forms, the applicant must fill the form in block letters with a black pen.
• The form should only have the signature of the company’s CEO or the authorized signatory of the company.
• For seeking information or getting answers to your queries, you can contact the customer care service of the PAN Department.
• The method of paying fees differs for the Indian and foreign companies. 

Does your Company Need a Pan Card?

PAN Card is mandatory for all the corporate bodies doing business in India, regardless of whether these companies are registered in India or overseas. All the individuals or entities that partake in the business activities with an Indian firm must possess a PAN Card. It is also needed by anyone involved in generating money out of India, whether the company is registered, permanently established or has an office in Indian territory. 

Mentioned below is a list of all the bodies that need to possess PAN cards in India:

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

Conclusion

Whether you are an individual or an entity, it is mandatory to hold a PAN card. It is a legal requirement as per the Indian laws. If you need assistance in applying for PAN Card for your company, get in touch with the Registrationwala team!

Author: Dushyant Sharma

Hey there, I'm Dushyant Sharma. With the extensive knowledge I've gained in past 8 years, I have been creating content on various subjects such as banking, insurance, telecom, and all the important registration and licensing processes for various companies. I'm here to help everyone with my expertise in these areas through my articles.