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PAN Card for Company – Process & Document Required

By Mayashree Acharya

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Updated on: Jun 28th, 2024

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7 min read

Any company incorporated in India and doing business here will have to get a PAN card mandatorily. Any form of business generating income in India will also be required to get a PAN. The Permanent Account Number (PAN) is to be quoted during all the company’s financial transactions, as well as in invoices and other registrations.

Which Business Must Apply for a PAN Card in India?

Any corporate body or artificial judicial body doing business in India must apply for a PAN card. All entities registered abroad but doing business in India must also have a PAN card. It is also required for any entity involved in generating money out of India. All the below entities must get PAN cards in India:

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

PAN Card for Company Name

All companies must apply for the PAN card of a company. The Company PAN card is a separate PAN card from the company members. Since a company is an artificial judicial person and can enter into financial transactions under its name, a PAN card is mandatory for companies.

The PAN card for a company contains the 10-digit unique Permanent Account Number issued by the Income Tax Department. The company must quote the PAN number when filing its income tax returns. 

Since the PAN card is mandatorily required by a company as soon as it is registered, the Ministry of Corporate Affairs (MCA) has introduced a facility for applying a PAN card along with the company registration form. From 1 February 2017, the MCA launched the SPICe+ Form, a common application form where a corporate applicant can apply for company registration, PAN, and TAN.

Thus, all domestic companies should apply for allotment of PAN cards along with the registration form on the MCA portal only, except for the following: 

  • Domestic companies registered before 1 February 2017, but PAN has not been applied
  • Domestic companies registered after 1 February and where PAN has not been applied through the common application form (SPICe+) of MCA

Domestic companies established before 1 February 2017 and not having a PAN card or companies established after 1 February 2017 but have not applied for a PAN card through the SPICe+ Form can apply for a PAN card on the NSDL website. 

However, such companies can only apply for a PAN card by selecting the ‘Submit digitally through e-KYC & e-Sign (Paperless)’ option for submission of documents. They must submit the application online using the Digital Signature Certificate (DSC) as PAN applications through any other option by these companies will not be accepted (i.e., TIN-FCs/ PAN Centres and offline mode). 

Foreign companies can submit their PAN applications through NSDL website by selecting any of the available options for the submission of documents. 

Why Does a Company Need a PAN Card? 

A PAN card is an important document for businesses in India. The following are the reasons why a company needs a PAN card:

  • A PAN card ensures that the company transactions are accountable and legitimate, preventing tax evasion and legal complications.
  • The PAN card serves as valid proof of the identity of the company during business-related verifications, ensuring authenticity and credibility.
  • Obtaining a company PAN card is a legal requirement and mandatory under the Income Tax Act to carry out financial transactions and register for GST.
  • A PAN card is mandatory for a company to file income tax returns, pay taxes, and comply with tax regulations. It is also required to pay invoices and receive remittances.
  • Companies should provide their Tax Registration Number (TRN) to whoever is paying them. A TRN can be obtained only when the company has a PAN card.
  • All international entities who give or generate payments to a counterpart in India must provide their PAN. 
  • Companies engaged in import and export businesses require a PAN for foreign exchange transactions.
  • Companies require a PAN card to open a business account in a bank. 
  • A PAN card is required to invest in the company’s name, such as mutual funds, stocks and other financial instruments.
  • A PAN card is needed for high-value business transactions, including selling or purchasing assets, vehicles or property.
  • A company PAN card is a prerequisite for participating in government contracts and tenders and enables the business to engage in government projects.

How to Apply for Company PAN Card?

PAN card can be applied either through the online mode or the offline mode. Following is the process that needs to be followed.

Online Mode 

Step 1: Visit the NSDL website.

Step 2: Select the ‘Application Type’ option as ‘New PAN – Indian Citizen (Form 49A)’ or ‘New PAN – Foreign Citizen (Form 49AA) from the drop-down box and the ‘Category’ option as ‘Company’.

Step 3: Fill in the PAN card application form with the required details, such as the company’s name, email ID, phone number, date of incorporation, and captcha code and click the ‘Submit’ button.

Step 4: Select either the ‘Submit digitally through e-KYC and e-Sign’ option and select if you want a physical PAN card.

Step 5: Fill in the other required details in the application, such as company details, contact details, AO code and upload the required documents.

Step 6: Choose the mode of payment and make the payment. An acknowledgement will be generated; take the print-out of the acknowledgement slip. You can track the application status from the acknowledgement number.

After the acknowledgement is generated, the PAN card will be sent to the company’s registered office, or the e-PAN card will be sent to the company email within 15-20 days.

Offline Mode

Step 1: Visit the nearest PAN Centre and get the PAN application form (Form 49A). You can also download the PAN application form from the Protean PAN website.

Step 2: Fill the application form using a black ball-point pen. The director of the company should sign the form.

Step 3: Submit the application to the PAN Centre along with the required documents and pay the application fees.

Step 4: They will issue an acknowledgement as proof of the documents submitted.

After verifying the documents, the PAN card will be dispatched to the company’s registered office, or the e-PAN card will be sent to the company email within 15-20 days.

Tips for Filling PAN Card Application for Company

  • Read the instructions on the form and ensure all supporting documents are included when the application is sent.
  • The form should be filled in block letters with a black pen in case of offline forms.
  • The full company name must be written or entered in the first block, i.e. ‘Last Name/Surname’. If the name is longer than the space provided for the ‘Last Name’ block, it can be continued in the ‘First Name’ and ‘Middle Name’ blocks.
  • The company incorporation date should be written in the ‘Date of Birth/ Date of Incorporation’ block.
  • The business code should be entered according to the nature of the company's business.
  • The gender field, Aadhaar number field, details of parents field and residential office field should be left blank.
  • The form should be signed by the director of the company.
  • Depending on whether the company is Indian or a foreign one, the method of paying the fee would differ.

Documents Required for PAN Card for Company

Following are the documents required to be submitted or uploaded along with the PAN card application for Indian companies and foreign companies (companies having no office of their own in India). 

Indian Company

  • Copy of certificate of registration issued by Registrar of Companies.
  • Declaration/Affidavit duly signed by authorised signatory stating reasons for not obtaining /applying PAN till date for domestic companies established prior to 1 February 2017.
  • No Objection Certificate from the Ministry of Corporate Affairs for domestic companies established after 1 February 2017.

Foreign Company

Any one of the following for establishing Proof of Identity and Proof of Address:

  • Copy of Certificate of Registration issued in the country where the applicant is located, duly attested by “Apostille” (For the countries which are signatories to the Hague Convention, 1961) or by the High Commission, Indian Embassy, Consulate in the country where the applicant is located, or authorised officials of overseas branches of Scheduled Banks registered in India. 
  • A copy of the Registration Certificate issued in India or the approval granted to set up an office in India by the Indian Authorities.
  • The bank draft/ foreign currency draft made out to the PAN, Protean eGov Technologies Limited, Mumbai, to pay the fee for the PAN card application to the Income Tax Department. 

Apostille Process of Company PAN Card Documents 

An apostille is a certificate authenticating the origin of a public document. Its purpose is to recognise the document in foreign countries. It verifies the genuineness of the signer’s signature, capacity, and stamp or seal on a document. When an apostilled document from a foreign country is uploaded to obtain a PAN card, it will prove the organisation’s legitimate existence and operation outside India. 

The document copies can be sent to the following offices for apostille:

Country

Office

UK

The Foreign and Commonwealth office

The Legalization Office

USA

Secretary of State Office

For other countries, the company directors will have to contact a broker or agent for more information on the apostille process.

Fees for PAN Card for Company

Mode of application submission

Mode of Dispatch of PAN card

Fees (Including GST)

PAN application submitted offline or online using physical mode

Dispatch of physical PAN card in India

Rs. 107

Dispatch of physical PAN card outside India

Rs. 1,017

PAN application submitted online through paperless mode

Dispatch of physical PAN card in India

Rs. 101

Dispatch of physical PAN card outside India

Rs. 1,011

PAN application submitted offline or online using physical mode

Dispatch of e-PAN card to the email ID

Rs. 72

PAN application submitted through paperless mode

Dispatch of e-PAN card to the email ID

Rs. 66

Benefits of PAN Card for Company

The Company PAN card is an essential document for financial transactions. It ensures compliance with financial regulations and helps the Income Tax Department track all financial transactions.

When a company does not have a PAN card, it can result in paying higher rates of tax and being ineligible for specific tax-related procedures. A PAN card helps businesses claim tax benefits and breaks and eligible for tax incentives and rebates.

A PAN card for company is crucial for financial transparency and compliance with the Indian Tax Act. The PAN card helps businesses conduct various financial transactions, file tax returns, open bank accounts and establish credibility. 

Related Articles

  1. PAN Card – What is PAN, Eligibility, How to Enrol, Download PAN
  2. How to Apply for PAN Card ? – Online Pan Application
  3. PAN Card Download
  4. Duplicate PAN Card
  5. Pan Card Status
  6. PAN Card Password
  7. PAN Card Customer Care Number
  8. PAN Card Fraud
  9. e PAN Card
  10. PAN Card Form 49A
  11. Link PAN Card with Bank Account Number
  12. Surrender PAN Card or PAN Card Cancellation
  13. e PAN Card Apply
  14. Obtain your PAN card for tax compliance
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Frequently Asked Questions

How do I obtain a physical copy of my PAN card?

You can obtain a physical copy of your PAN card by selecting ‘Yes’ under the ‘Whether Physical PAN Card is Required?’ option in the PAN card application. After submission and verification of the PAN application, the actual copy of your PAN card will be dispatched to the office address entered in the PAN application. 

Is a PAN required for GST registration?

Yes, the PAN card and the Aadhaar card are required for GST registration of the business. 

What is the format of a business PAN card?

The PAN number for businesses is similar to the individual PAN format. It is a 10-digit alphanumeric number allotted by the Income Tax Department. A business or company PAN card will not have a photograph or the father's name. It will contain only the company name, PAN number, and date of incorporation.

From where can I download the PAN application form?

You can download the PAN application form from the official Protean PAN website.

Is it mandatory for companies to have a PAN card?

Yes, a company must apply for a PAN card. Domestic companies can apply for a PAN card in the integrated company registration form, i.e., SPICe+ form. The company PAN card acts as proof of a company's identity. In India, even foreign companies must also apply for a PAN card as the PAN number is required to conduct financial operations.

About the Author

I am an advocate by profession and have a keen interest in writing. I write articles in various categories, from legal, business, personal finance, and investments to government schemes. I put words in a simplified manner and write easy-to-understand articles. Read more

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