Every person which is required to file its income tax return or which have an income taxable in India is required to apply and obtain a PAN card. The PAN card apart from other detail mentions a 10-digit alphanumeric number known as Permanent Account Number. Which is unique and a permanent identification number of that person with the Income Tax Department. The Income Tax Department maintains an account for such persons attached to the PAN Number. A person is defined under Income Tax Act to mean and include an individual, a Hindu undivided family, a company, a firm, an association of persons or a body individuals, whether incorporated or not, a local authority and every artificial juridical person, not falling within any of the preceding sub-clauses;
How to obtain PAN number for a company and LLP?
After registration of a company or an LLP, the Registrar of company issues a certificate of incorporation. Which is considered as a conclusive proof of registration of the company? To apply for a permanent account number of Income Tax Department which is also known as PAN Number, the Director of the company must apply in the prescribed form which is Form No. 49A.
Some basic information is required to be filled in the application form, which is as under:
- Name of Company
- Date of Incorporation
- Registered address
- Telephone Number & E-mail ID
- Status of applicant
- Source of Income
The application form needs to be signed by duly authorised Director in a case of Company and designated partner in case of an LLP or any other person, who has been so authorised to sign the PAN Card application of company/LLP. The Certificate of Incorporation is a mandatory attachment, which must be filed along with the application. At the end of the application, the details of signatory, place and date are required to mention.
Recently, the Ministry of Corporate Affairs has launched e-Spice form by which the registration of company has been simplified and the PAN & TAN Number is allotted during the incorporation process itself, hence, for the companies which have been incorporated by using the e-Spice form there is no need to apply for PAN Number.
Download the form and its fee detail
|Sl. No||Particulars||Applicable form||Governmment Fee|
|1.||PAN application for Indian person||Form 49A||Rs. 107|
|2.||PAN application for Foreign person||Form 49AA||Rs. 989|
|3.||PAN Correction Form for Indian person||PAN Correction Form||Rs. 107|
|4.||PAN Correction Form for foreign National||PAN Correctin Form||Rs. 989|
Q1. Which kind of organisations & bodies need Company PAN Card?
Ans: Organisations and individuals running a business with an Indian firm or making money out of India even with the invoices need to get a PAN number. This is applicable even in the case, the organisations and individuals don’t have any registration, permanent establishment or office in India.
Q2. Is it obligatory for a company to get a Business PAN Number?
Ans: Yes, it is obligatory as it is an important legal document for a company to run the business. Thus, the companies running businesses in India, whether registered in India or in any foreign nation need a Company, PAN Card, as declared by the Income Tax department of India.
Q3. Why there is a need of Business PAN Number?
Ans: The code on the Company PAN card is used for the reference by the Income Tax department as it helps in tracking down all the financial transactions. As every registered company in India or abroad is required to pay tax, Company PAN Card Registration ensures that invoices and remittances are paid. It also verifies whether income tax returns are filed or not. Moreover, the Companies also need to provide their Tax Registration Number to their payers. A company can obtain its TRN only if it has its own PAN.