How to get PAN Card for Private Limited Company

PAN card or Permanent Account Number is a prime tool to open bank account in the company’s name and do income tax registration and other things.

It is of 10 characters which are made up of numbers and digits; is distinctive for each card holder and made necessary for all Private limited Companies to acquire after registration with the Registrar of companies.

Why does a company need PAN card?

The government of India under the Income Tax Act, 1961 made PAN generation obligatory for individuals and any form of entity while the payment of counterpart in India. Hence those who fail to do so; the government will charge concealing tax which can be at the rate of more than 30% of the total invoiced payment i.e. the government will deduct tax at the highest rate possible.

Having a PAN will grant benefits while paying the invoices, income tax returns and remittances.

Documents required for PAN card registration

The following documents are required for the registration

For ID proof (any one)

• An authentic copy of the certificate of incorporation
• An authentic copy of the business registration certificate
• An authentic copy of articles of association

How to apply for PAN card?

By following these simple steps getting PAN card for a company becomes very simple

1. Application form 49A can be downloaded from any reliable PAN website
2. Fill the form with all the necessary information
3. You need to acquire bank draft for the payment of the pan card fees
4. The name and the details of accessing officer can be left blank
5. Once the form has been filled you can download and print it
6. The form has to be send to any PAN agent or broker of your choice after it has been signed by the authorized director on behalf of the company
7. You can also send the form directly to any NSDL processing centers in India for those who do not prefer online services
8. You can note down the PAN card number in order to track down the status of your application
9. It can take around 15 days to 5 weeks to get PAN card number

Other important details

The question arises that who should sign the PAN application form?

The company has to authorize one of its directors to process the permanent account number on behalf of the company i.e. the authorized director will sign the PAN registration form on behalf of the company.