Application For Pan

Application For Pan

 Director of the Company informed the Board that the Company is required to make an application to the Income Tax authorities for the allotment of Permanent Account Number pursuant to the provisions of Income Tax Act, 1961

Earlier, to apply for PAN, an individual had to physically fill up forms specified by the income tax department (i.e., form 49A for resident individuals) and provide supporting documents for proof of identity, address, and date of birth. These days you can apply for PAN online, albeit partially

Does your company need a PAN card?

Any corporate body doing business in India requires a PAN card whether it is registered in India or abroad. Any individual or entity involved in business with an Indian firm requires a PAN card. It is also required for anybody who is involved in generating money out of India whether the company is registered, or has a permanent establishment, or an office in India. Given below is a list of bodies that require PAN cards in India.

·         Corporates

·         Companies

·         Firms

·         LLC

·         LLP

·         Partnerships

·         Sole proprietorship

·         Trusts

·         Incorporations

·         Limited companies

·         Private firms

·         Associations

·         Foreign institutional investors

·         Hedge funds


How to get a PAN card for a company?

1.      Download the application form 49A from the internet on any of the reliable PAN Websites.

2.      Read the instructions for filling the form carefully. All details of the process will be mentioned on the form.

3.      Fill in the application and provide all the required information.

4.      You need to acquire a bank draft for the payment of the PAN Card fees. Bank charges for the draft will have to be borne by the applicant.

5.      Enter the details of bank draft which includes issuing bank, date of issue, and the demand draft number.

6.      The name and details of the Assessing Officer can be left blank.

7.      Once you have filled out the form, you can download and print the form.

8.      Sign the form and send it along with supporting documents to the PAN agent or broker you have selected.

9.      The supporting documents need to be apostilled.

10.  You can also send it directly to NSDL or any NSDL processing centers in India.

11.  Note down the PAN card application number which will help you track the status of your application.

12.  The government will then issue your firm a PAN number and the card will be dispatched to your registered address.

13.  It can take around 5 weeks to receive your PAN card.

Documents Required for PAN Card for Company

You require the following supporting documents.

·         Submit any one of the following as ID proof:

·         An apostilled copy of the Certificate of Incorporation.

·         An apostilled copy of the Business Registration Certificate

·         An apostilled copy of the Articles of incorporation.

·         Submit the following as Address proof:

·         An apostilled copy of the company bank statement bearing the company name and full current address for communication. The PAN card will be delivered to this address.

·         You require a bank draft which is used to pay the Income Tax Department the fee for the issuance of the PAN card. Currently the fee is around Rs. 1,000. The fee needs to be paid in INR (Indian Rupees). For this reason, you can acquire a foreign currency draft drawn in favor of NSDL - PAN or UTITSL. This draft will be payable in Mumbai.

In case you do not have the required documents listed above, you can obtain the same in the country your company was initially registered or incorporated by contacting the concerned authority.


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