PAN Registration  - The Complete Guide

PAN refers to Permanent Account Number, which is issued by the Income Tax Department for all taxpayers residing in the country, be it an individual, a partnership, or a limited company. It is a 10-digit alpha-numeric unique number that also acts as identity proof.

Why should a business apply for a PAN Card?

In India, it is mandatory for all the businesses that are generating profit to get a PAN Card as it is required for quoting all the financial transactions of the company, invoices, and other registrations. The PAN Number helps in keeping the track of tax flow of your company. Even if you are an entrepreneur and are not eligible to pay tax, still you need to apply for PAN Card. Additionally, here are the following reasons why you should fill PAN card application form:

The IT Department tracks your tax-related transactions and documentation with the PAN Number
For foreign companies PAN Card is mandatory, or else the government can charge you the highest possible tax rates
Assist in clearing the payment of your invoices without deduction, filing of tax returns, remittances, and much more
The government has the right to charge you 30% or more of your invoiced payments in case you do not have a PAN Card
If you need a TRN (Tax Registration Number), a PAN is a must.

Procedure to Apply for PAN Card

A business can either apply for a PAN Card Online or Offline. The procedure for each of them is given below:

Online Procedure:

  • First, visit the NSDL and fill the Form 49A under “Firm” and fill in all the details like company name, date of application, and so on.
  • Then, you are required to fill in the income details and company registration number.
  • Find the AO Code Search Panel on the NSDL website and fill in the Assessing Officer code (AO Code).
  • Then you’re required to upload the copies certificate of incorporation and address proof and pay the prescribed fees.
  • Now, you will get an acknowledgment number through which you can track the details of progress regarding your PAN Card. Also, you are required to send a signed acknowledgement form to the NSDL head office within 15 days.

Offline Procedure

  • First, download Form 49A from the NSDL website and then take out the hard copy of it.
  • Fill out the form as per the requirements and attach all the required documents.
  • Then submit the form and documents to the nearest NSDL center. You’ll get a letter of acknowledgment from the center
  • After the verification of your details, you will receive the PAN card at the mentioned company address.

Documents Required for Pan Card

  • For an Indian company
  • An identity or address proof
  • A copy of the Certificate of Incorporation
  • A copy of a NOC issued by MCA (Ministry of Corporate Affairs)

For a foreign company

  • A copy of the registration certificate issued by Indian officials to set up an office in India
  • A copy of the certificate of registration from the applicant’s native country, duly attested by the Indian Embassy or High Commission or even by authorized officials of overseas branches of scheduled banks registered in India.

How can we simplify the process of getting a PAN Number?
Amidst the incorporation of a business, it is strenuous to get involved in all these registration processes. Nevertheless, to save your time as well as efforts, we at Munimbhai accomplish the complete process on your

Our service structure features end-to-end fulfillment under the guidance of our expert.

 

Connect with us

Reach Out To Us