All You Need to Know About Company PAN Card
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| All You Need to Know About Company PAN Card sangeethaonline |
Every company in India needs a PAN card. This card helps with tax work. It also helps in many business deals. If you run a firm, you should know about this card. Here is a simple guide on company PAN cards.
What Is a PAN Card for Company?
A PAN card is a Permanent Account Number card. It has ten characters made of letters and digits. The Income Tax Department gives it. It links a company to its tax records. The card shows company name and PAN number. It also has the date of birth or date of incorporation.
What Is Business PAN in India?
Business PAN in India is the same as PAN card for companies. It is for firms, LLPs, private limited, and other bodies. It is not a personal PAN card. It identifies the firm in tax matters. It also helps bankers verify the firm. You need it before you open a bank account for business.
Key Point:
You cannot use a director's personal PAN for company transactions - the business must have its own PAN card.
Is Business PAN Different from PAN Card?
No. A business PAN is a PAN card. The only change is the category code. The fourth character of the PAN code changes. It marks the holder as a company or firm. The rest of the format stays the same. So the PAN card you get is your business PAN card.
Does Company Have PAN Card?
Yes. Every Indian company has a PAN card. It is a legal need under the Income Tax Act. The firm gets it when you apply in Form 49A. You must quote the PAN in all tax returns. You must also quote it in invoices and large deals. Without a PAN, a company cannot file tax returns.
Do Companies Have PAN Number?
Yes, every company has a PAN number. The PAN number is on the PAN card. It is a ten-digit mix of letters and numbers. The PAN number stays the same for life. You use it in tax forms, bank forms, and many deals. It is the firm's tax identity.
Why PAN Card Is Required for Companies?
A PAN card is required for companies to:
- File income tax returns.
- Open bank accounts in the firm's name.
- Quote it in invoices and bills.
- Take loans and credit in the firm's name.
- Make large cash deals over two lakh rupees.
- Link to GST and other tax IDs.
How to Apply for a Company PAN Card?
You can apply online on the NSDL or UTIITSL site. You fill Form 49A for firms and bodies. You upload the documents and pay a fee. You can also apply via MCA SPICe+ form when you register the company. The process takes about 15-20 days. Once done, you get the PAN card by post or PDF download.
Documents Needed for Company PAN Card
You need:
- Certificate of Incorporation from MCA.
- Board resolution to apply for PAN.
- Proof of company address.
- Identity proof of two directors.
- Passport photos of authorised signatory.
- Proof of address of authorised signatory. Keep clear scans ready for upload.
How Does a Company PAN Card Look Like?
A company PAN card looks like a normal PAN card. It has:
- The cardholder's name (company name).
- The PAN number.
- The father's name field empty or shows authorized signatory's name.
- Date of incorporation or birth.
- Photo of a company's logo or no photo.
- Income Tax logo and hologram.
- Signature or digital sign.
What Is Business PAN Card Number?
The business PAN card number is that ten-digit code. It starts with letters, ends with a letter. The first three letters are a random series. The fourth is the PAN card holder type:
- 'C' for Company.
- 'P' for Individual.
- 'H' for HUF.
- 'F' for Firm. The fifth is the first letter of the firm's name. The next four are digits. The last is a check letter.
Where to Find PAN Number of Company?
You can find it on:
- The physical PAN card issued by NSDL.
- The PDF/download sent by NSDL or UTIITSL.
- MCA portal under company master data.
- Invoices and bills the firm issues.
- Company's bank records and tax forms.
Does Company Have PAN Number on MCA Portal?
Yes. You can see the company PAN under the Master Data on the MCA website. Log in to MCA portal. Go to 'View Company/LLP Master Data.' Enter the CIN or LLPIN. Click submit. The page shows the company's PAN number.
How to Check Company PAN Online?
Visit the Income Tax e-filing site. Go to 'Know Your PAN.' Choose company category. Enter firm name and date of incorporation. Provide the registered email or mobile. Enter the captcha. Click submit. You get the firm's PAN details on screen.
What If You Lose Your Company PAN Card?
You can apply for a reprint. Log in to NSDL or UTIITSL site. Select PAN card reprint service. Fill company details and PAN number. Upload proof if needed. Pay the fee. Wait 15-20 days. You get a new PAN card by post.
Common Errors in Company PAN Application
Watch out for:
- Wrong CIN or LLPIN.
- Mismatch in company name.
- Wrong date of incorporation.
- Low-quality document scans.
- Missing board resolution. Check carefully before you submit.
How Does Company PAN Link to GST?
You need PAN to apply for GST. GST portal asks for PAN and business details. They verify your PAN with Income Tax database. After verification, you get GSTIN. You must quote PAN in all GST returns.
How PAN Helps in Bank Account Opening
Banks ask for PAN for KYC. They match the firm's PAN with MCA data. They also need address proofs and board resolution. After due checks, they open the current account in the company name.
Does Company PAN Change on Merger?
No, the old PAN ends. The merged or new firm applies for a fresh PAN. You must get a new PAN for the new entity. You cannot transfer the old PAN to the new firm.
Are Foreign Companies Required to Get PAN?
Yes, if they do business in India. Any foreign firm earning money here needs a PAN. The process is through Form 49AA. You need proof of identity and address in the home country. You also need proof of business in India.
What Fees Apply for Company PAN?
The fee is Rs. 110 plus GST if your address is in India. It is Rs. 1,020 plus GST for foreign address. You pay online by debit/credit card or net banking.
How Long Does PAN Application Take?
It takes about 15-20 working days. You get an acknowledgement number after applying. Use it to track status on the NSDL or UTIITSL site. If you choose paperless submission, it may take less.
Tax Filing with Company PAN
You must file ITR for companies using this PAN. A company files ITR 6 by September every year. The PAN is the key to link tax challans and returns.
Penalty for No PAN
If you do not apply for PAN, tax officers can levy a fine. The fine can be up to Rs. 10,000. Your taxes may be deducted at a higher rate. You cannot do many transactions without PAN.
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| All You Need to Know About Company PAN Card sangeethaonline |
Common Myths about Company PAN
Myth: You can use director's PAN. Fact: You need a separate company PAN.
Myth: PAN is for big firms only. Fact: All companies must have PAN.
Myth: PAN is same as GSTIN. Fact: They are different IDs.
FAQs about Company PAN
Q: Is business PAN different from PAN card?
A: No. Business PAN card is the firm's PAN card.
Q: Does company have PAN card?
A: Yes, every company must have a PAN card.
Q: Does company have PAN number?
A: Yes, a ten-digit code on the PAN card.
Q: Do companies have PAN card?
A: Yes. It is mandatory.
Q: How does a company PAN card look like?
A: It looks like a regular PAN card with firm details.
Q: What is business PAN card number?
A: It is a ten-character code for the firm.
Q: What is business PAN in India?
A: It is PAN card for firms and bodies.
Q: What is PAN card for company?
A: It is a tax ID card for companies.
Q: Where to find PAN number of company?
A: On MCA portal, tax site, or PAN card.
Q: Why PAN card is required for companies?
A: For tax filing, bank accounts, and deals.
Conclusion
A PAN card for company is key for tax, bank, and deals. You need it before you start business. It is easy to apply. Keep your records ready. Fill the form with care. Upload clear documents. Pay the fee. Track your file with the acknowledgement number. Once you get your PAN, use it in all your company work. It helps you stay law-abiding and enjoy smooth tax service.
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