An organization created through partnerships enables two or more individuals to jointly operate business ventures or professional activities. Every partnership firm must file annual income tax returns with the Income Tax Act of 1961 regardless of its financial position. Get a PAN card for  partnership firm easily. Essential for tax filing and business compliance. Apply now to simplify your firm’s financial processes!

A PAN card stands as a legal requirement for obtaining tax compliance partnerships that must register with the Income Tax Act. A PAN card stands as official proof of business existence for the firm while serving as a necessity for tax return preparation.

Formalities Before Applying for a PAN Card

When applying for a PAN card for a partnership firm, we must complete the following formalities:

1. Notarize the Partnership Deed: You must have a partnership deed recognized through official public notarization.
2. Authorize a Partner: The firm chooses one partner whose role will be that of manager to act as the primary signatory for corporate documents.
3. Verify Details: A partnership deed must contain clear information about the partnership date as well as its location and all necessary framework aspects.
4. Signatures and Witnesses: A partnership deed requires all partners to sign each document page after which they need two more witnesses to authenticate it.
5. Stamp the Deed: A rubber stamp displaying both ‘Partner’ and the ‘Partnership Firm Name’ validates this document.

Documents Required for PAN Card Application

1. Partnership deed.
2. Digital Signature Certificate (DSC) of the partner.
3. Proof of office address.
4. Identity proof of all partners.
5. Address proof of all partners.
6. Certificate of Registration of the firm.

Steps to Apply for PAN Card for Partnership Firm

Online Process

1. Visit the official NSDL website.
2. Select “New PAN (Form 49A)”.
3. Choose ‘Firm’ under the ‘Category’ option.
4. Fill in the required details such as firm name, contact details, income details, and business code etc.
5. You can complete the payment process through credit/debit cards together with net banking and through demand drafts or cheques.
6. After printing your acknowledgement slip, place a signed new passport-sized photo next to it before sending everything.
7. Send the acknowledgement slip withthe  required documents within 15 days to: The PAN issuance function of the Income Tax PAN Services Unit operates out of Protean eGov Technologies Limited’s 4th Floor offices located in Sapphire Chambers on Baner Road, Baner, Pune – 411045.
8. The firm will receive its PAN card at its registered office following verification within 15-20 days.

PAN Card Application Form Details

When filling Form 49A for a PAN card for a partnership firm, the following details must be provided:

• Choose ‘Firm’ under the ‘Category’ option.
• Enter the firm name as per the Registration Certificate.
• Provide the date of the partnership deed.
• Leave fields such as gender, parent details, and Aadhaar blank.
• Enter the office address.
• Mention the firm’s registration number.
• Choose ‘Income from business/profession’ under the ‘Income’ option.
• Specify the business code based on the nature of the business.
• Attach all necessary documents as proof.

Business Codes for PAN Application

Here is a list of common business codes to be entered during the PAN card application process:

Conclusion

Partnership firms can obtain a PAN card quickly when they provide all the necessary paperwork and meet all official requirements. Accurate documentation presentation combined with prompt submission of paperwork when applying ensures delay-free procedures both through online and offline channels. Through our user-friendly platform at Pancardresizer, we guide partnership firm clients through their PAN card applications while making their compliance process easy to navigate. Our team stands ready to provide expert help now.