PAN Card for company

Every business operating in India requires a PAN (Permanent Account Number) card, as it serves as a unique tax identification number. Filing income tax returns, opening business bank accounts, registering for GST, and conducting high-value financial transactions all require it. Businesses are unable to carry out legal financial operations in India without a company PAN card.

Companies must apply for a corporate PAN card, whether they are newly incorporated or already established, to ensure tax law compliance and efficient operation across all financial and regulatory activities.

What is a business PAN Card?

To identify businesses and organisations for tax purposes, the income tax department issues a unique 10-digit alphanumeric number, known as a Business PAN card. All organisations that generate revenue or conduct financial transactions in India are required to have this corporate PAN card.

For businesses, firms, LLPs, and trusts operating in India, the PAN card for company serves as their official tax identification.

Businesses that need a PAN Card in India 

To guarantee tax compliance and efficient financial operations in India, the following organisations must get a business PAN card:

• Private and Public Limited companies: To comply with legal, tax, and financial reporting requirements, companies registered under the Companies Act are required to obtain a PAN. Opening bank accounts, completing high-value transactions, and filing income tax returns all require a PAN card for private limited company. Even public limited companies need the PAN card for financial transactions.
• Limited Liability Partnerships (LLPs): Limited Liability Partnerships (LLPs), which combine the advantages of a partnership and a company, must obtain a business PAN to comply with operational and tax requirements.
• Partnership firms: To file taxes, conduct banking, and carry out other business operations, traditional partnerships that are governed by a partnership deed require a PAN.
• Sole proprietorships: Although owners use their personal PAN, handling large transactions, business banking, and GST registration may require a separate business PAN.
• Foreign businesses: For tax and regulatory purposes, foreign businesses operating in India, including branch offices, liaison offices, or subsidiaries, are required to obtain a PAN.
• Trusts, societies, and non-profit organisations: To maintain transparency and comply with legal requirements, organisations that manage financial transactions, such as grants, donations, or bank accounts, require a PAN.

Documents required for a business PAN Card 

Here is a detailed table, organised by entity type, listing the documents needed to obtain a business PAN card in India:

How to apply for a company PAN Card?

Here's a step-by-step guide on how to apply for company PAN card:

Step 1: Go to the official PAN application website

Visit Protean eGov Technologies, the official PAN application portal.

Step 2: Choose the correct form

Select Form 49A for Indian businesses. Enter the name of your business (in the "Last Name" field), the date of incorporation, and your contact details after selecting the "Firm" category.

Step 3: Complete the application

Fill out the form accurately, stating:

• Name of the company.
• Date of incorporation.
• Email ID.
• Contact number.
• Company registration number (CIN).
• Details of the authorised signatory.
• AO code (searchable on the portal).
• Details of business activities to give the operations' context.

Step 4: Upload the necessary files

Get the following documents ready and upload them for PAN registration for companies:

• The Certificate of incorporation.
• Proof of authorised signatory's identity and address.
• Evidence of business address.

If available, a Digital Signature Certificate (DSC) will expedite the verification process.

Step 5: Make the application fee payment

The following is the fee structure for PAN card for company:

• ₹107 for the Indian communication address.
• ₹989 for a foreign communication address.

Step 6: Send in the application

Once payment has been received, submit the application for PAN card for company. An acknowledgement number will be provided to you for future tracking.

Step 7: Monitor the status of your application

Until your PAN is issued, use the acknowledgement number to track the status of your application online. The PAN card will be sent to the registered communication address after approval.

Note: Ensure all information is accurate to prevent rejection or delays in the issuance of the PAN card for company. Verify document formats and signature requirements one last time before submitting the form for PAN for LLP and firms. 

How to apply for a company PAN Card offline?

Wondering how to get company PAN card offline?

For the offline mode, here's how to apply for the company PAN card:

Step 1: Obtain the form

Get Form 49A (for Indian businesses) or Form 49AA (for foreign companies) from the Protean eGov website or the PAN service centre that is closest to you.

Step 2: Complete the application

Enter the company name, incorporation date, CIN, email address, phone number, authorised signatory information, and AO code accurately.

Step 3: Attach the necessary documents for company PAN card

• Incorporation certificate.
• Proof of the authorised signatory's identity and address.
• Evidence of a business address.

Step 4: Send in the Application

Send the completed company PAN card application form and supporting documentation to the TIN-FC or PAN service centre that is closest to you.

Step 5: Make the payment

₹1,017 for addresses abroad, and ₹107 for addresses in India.

Step 6: Receive acknowledgement

To follow up on your application for PAN card for company, please obtain a receipt with a reference number.

Step 7: Monitor and get PAN

Check the status online; after approval, the PAN card is delivered to the registered address.

Note: To prevent processing delays, ensure that all information is accurate and that all documents are complete. 

Advantages of a company PAN Card 

In India, a company's PAN card is an essential identification document for companies. This 10-digit alphanumeric company PAN card number streamlines several financial processes and ensures tax compliance. Getting a PAN card has several benefits that support lawful and efficient business operations.

The following are the primary advantages of a company PAN card:

• Identity proof: Acts as the company's official identity during financial and legal transactions.
• Income Tax Filing: The company PAN card number facilitates the timely and accurate filing of income tax returns, thereby preventing penalties.
• Banking operations: Needed to apply for loans, open corporate bank accounts, and carry out other banking tasks.
• Tax benefits: Facilitates the claiming of tax exemptions and deductions under relevant laws.
• Transparency & verification: The company PAN card number promotes transparency and permits financial institutions and governmental agencies to verify the organisation’s authenticty.
• GST Registration: Businesses must register for GST, and the company PAN card number is required for the registration process.
• Compliance for foreign companies: Guarantees that foreign companies doing business in India follow Indian tax regulations.
• Official Procedures: The company PAN number is required for licenses, tenders, and other formal business processes.

All things considered, a company's PAN card is essential for efficient, legal, and seamless business operations.

Tips for filling out the PAN Card application for a company

Here's how to file the correct application to get the PAN card:

• Use block letters: If submitting the form offline, use block letters and a black ballpoint pen.
• Company name: Fill in the "Last Name/Surname" field with the full name of the company. Continue in the "First Name" and "Middle Name" fields if the name is longer than the space.
• Date of incorporation: Enter the date of incorporation of the business in the "Date of Birth/Date of Incorporation" field.
• Business code: Choose a business code that accurately represents the primary operations of the organisation.
• Leave some fields blank: The fields for "Gender," "Aadhaar Number," "Parents' Details," and "Residential Office Address" should not be filled in.
• Authorised signatory: Verify that the director of the business or another designated signatory has signed the document.
• Document checklist: Enclose all necessary paperwork, such as the Certificate of Incorporation, proof of business address, and identification and address of the authorised signatory.

Apostille process of the company PAN Card documents

Getting an Apostille Certificate is necessary to authenticate the company’s PAN card documents for use abroad. Documents used in nations that have ratified the Hague Apostille Convention are authenticated through this procedure.

Procedure for Apostille of Company PAN card Records

• Document preparation: Verify that the PAN card issued by the company and any associated documents are either certified copies or originals.
• Notarisation: Have the documents notarised by a public notary in the nation of origin if necessary.
• Application for apostille: Send the notarised documents to the appropriate apostille authority in the country of origin.
• Submission to Indian authorities: Send the apostilled documents to the relevant Indian authorities for validation if they are to be used in India.

Why does a company need a PAN Card?

A company PAN card is a crucial identification document for Indian companies. This 10-digit alphanumeric code is issued by the income tax department to ensure compliance with tax regulations and maintain transparency in financial transactions. With a PAN card, businesses can legally report income, pay taxes, and request refunds—all essential for smooth operations.

Some of the key reasons are as follows:

• Income tax compliance: To file corporate income tax returns, a PAN card is mandatory.
• Banking operations: Required to open corporate accounts, write checks, and apply for business loans.
• GST registration: Required to conduct interstate business transactions and register under the Goods and Services Tax.
• High-value transactions: Required for transactions, such as securities and investments, that surpass government-imposed thresholds.
• Legal identity: Serves as official documentation when speaking with government representatives, financial institutions, and business associates.
• Foreign companies: To comply with tax laws, foreign companies doing business in India need to obtain a PAN.

A company's PAN card is essential for all corporate entities in India, as it ensures financial transparency, operational effectiveness, and legal compliance. 

Fees for PAN Card for company

The fees for obtaining a company PAN card in India vary based on the mode of application and delivery location. The corporate PAN card requirements in terms of fees are as follows:

• Offline or Online (Physical Documents):
• Within India: ₹107.
• Outside India: ₹1,017.
• Online (Paperless Mode):
• Within India: ₹101.
• Outside India: ₹1,011.

For an e-PAN card (digital format), the fees are:

• Offline or Online (Physical Documents):
• Within India: ₹72.
• Outside India: ₹1,017.
• Online (Paperless Mode):
• Within India: ₹66.
• Outside India: ₹1,011.

Note: The fees of PAN card for company include applicable taxes and are non-refundable.

Also Read: What is PAN 2.0?

Conclusion

For all corporate entities in India, a company PAN card is a necessary identification tool that guarantees financial transparency and legal compliance. Filing income taxes, opening bank accounts, registering for GST, and carrying out high-value transactions all require the PAN card for company.

To function correctly and comply with Indian tax regulations, both foreign and domestic businesses must obtain a PAN card for company. Companies that possess a PAN card can secure financial credibility, simplify official documentation procedures, streamline business operations, and maintain regulatory compliance. So, know the business PAN card types and apply for one efficiently.

Frequently Asked Questions

What is the business PAN format?

The format of a business PAN card in India is AAAAF1234Z, where the first five letters are alphabetical, the entity type (represented by 'C' for companies) is denoted by the sixth character, followed by four numerals, and a check digit at the end.

Is PAN for business mandatory for GST registration?

Yes, to register for GST in India, a business PAN card is required. The PAN card for company acts as the company's primary identification, guaranteeing tax compliance and facilitating accurate Goods and Services Tax transaction filing, verification, and tracking.

Disclaimer: This article is intended solely for informational purposes. The views expressed in this article are personal. Axis Bank and/or the author shall not be liable for any direct or indirect loss or liability incurred by the reader arising from reliance on the content herein. Readers are advised to consult a qualified financial advisor before making any financial decisions. Axis Bank does not endorse or guarantee the accuracy of any third-party content or links included in this article.