How to Get a Business PAN Card: A Simple Guide for Entrepreneurs

A permanent Account Number (PAN) card is a unique identity verification card. The government of India issues PAN cards to individuals and businesses of all sorts. It is mandatory for both categories to have a PAN card as it serves as a legal document that is required while engaging in business operations within the boundaries of India. A PAN card helps officials combat fraud and money laundering.

Table of Content

• How to Apply for a Business PAN Card?
• Businesses that Need a PAN Card

Entrepreneurs who have just started their new business venture should complete all legal proceedings involved in starting a business, applying for a business PAN card being one of them. Just like individual PAN cards, a business PAN card is also required for tax filing, opening bank accounts, legal compliance, claiming tax deductions and carrying out other financial activities.

For companies and businesses of all sorts, having a PAN card may boost their credibility while keeping financial records of the company and assisting in tax-related transactions. With everything being online now, applying for a PAN card is simpler than ever. Read this blog thoroughly to find out who needs to and how to get a business PAN card.

How to Apply for a Business PAN Card?

You can apply for a business PAN card online as well as offline. Follow the step-by-step guide mentioned below.

Online Procedure

• First of all, visit the NSDL website and select either Form 49A i.e. for Indian companies or 49AA i.e. for foreign companies from the application type dropdown menu.
• From the second dropdown menu, choose the type of your Firm and fill in your details such as name and contact information.
• Then you will get a dialogue box with a token number that says proceed ahead. Fill in the company-specific details like registration number.
• This takes you to the next option where you have to tick your source of income and fill in personal details and company-related details.
• Then you have to determine your AO code by visiting the website's 'AO Code Search for PAN' page. The assessing Office (AO) code indicates the tax jurisdiction under which the application would go for a cross-check.
• After you fill up the necessary information, you must then upload the necessary documents such as an identity card, partnership deed etc. and pay the PAN card charges. After confirming that you have successfully paid the application fee, click "Submit" to file your application.
• You will then receive an acknowledgement via email which contains a PDF of the acknowledgement form with a unique number. Note this number and keep it handy so that you can track your PAN card status.
• Lastly, you have to print out the acknowledgement form, fill it and send it to the NSDL office within 15 days, along with a copy of the registration certificate of your company or firm.

Offline Procedure

• Download the Form 49A or 49AA according to the type of your business from the NSDL website.
• Read the guidelines before filling out the form and attach the necessary documents.
• Locate the nearest NSDL centre, where you have to submit the form at the address provided on the website.
• The centre will then issue a letter of acknowledgement which serves as proof of your application submission.
• After the officials have verified your details, you will receive your business PAN card at the company address that you have mentioned.

Businesses that Need a PAN Card

It is of utmost importance that an entrepreneur selects the right type of firm or business structure while sending an application for a business PAN card. Mentioned below are the types of businesses that need to apply for a business PAN number.

• Sole Proprietorship Firm
• Partnership Firms
• Private Limited Company
• Hindu Undivided Families (HUF)
• Limited Liability Partnership (LLP)

It is important that both individual entrepreneurs and businesses obtain a PAN card to ensure a seamless operation. It also allows the government to monitor economic activities within the country.

With a staff of more than 40,000 in more than 6,000 branches, Muthoot Finance simplifies the application process involved in obtaining a business PAN card. You can be in any part of the country and send the application in a safe, secure, and hassle-free manner.