Latest Laptops Offers on Amazon
    Facebook Twitter Instagram
    Wednesday, February 1
    • Contact Us
    • Subscribe
    • About us
      • Privacy Policy
      • Disclaimer
      • Sitemap
    Facebook Instagram Pinterest Telegram
    KyaLu
    Join Us
    • Home
    • Blog
    • Shop
    • Business
      • Finance
      • Education
      • Jobs & Career
    • Digital Marketing
      • Social Media
    • Health & Fitness
      • Fashion & Beauty
    • Travel
    • How to
      • WordPress
    • Technology
    KyaLu
    Home » Blog » PAN Card for Partnership Firm
    Law

    PAN Card for Partnership Firm

    KyaLu TeamBy KyaLu TeamNovember 14, 2022Updated:November 14, 2022No Comments5 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    <strong>PAN Card for Partnership Firm</strong>
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Table of Contents

    • Introduction
    • PAN Card
    • Is PAN Card compulsory for Partnership Firms?
    • Documents required for Partnership Pan Card
    • PAN Card Online Application Process
    • PAN Card Offline Application Process
    • PAN Card Application Details for Partnership Firm
    • Conclusion

    Introduction

    Partnership firms are formed by two or more persons or parties who agree to share the responsibilities and profits or losses incurred through a business. They agree to do so in an oral or written agreement called a partnership deed. Since a verbal agreement has no validity for tax purposes but most partnership firms have a written agreement, a legally-valid partnership deed. The registration, working, rules, and regulation of Partnership firms fall under the Indian Partnership Act of 1932. However, the partnership firm must register with the Income Tax Department for filing taxes and possess a valid PAN card. In this article, we will look at how the PAN card is useful for a partnership firm.

    PAN Card

    A Permanent Account Number or PAN number means it is an identification number that is assigned to all taxpayers in India. A Permanent Account Number is an electronic system through which all the tax-related information for a person or company is recorded against a single PAN number. PAN Card is the vital key for the storage of information and is shared across the country. Hence no two entities can have tax-paying through the same PAN.

    Is PAN Card compulsory for Partnership Firms?

    Partnership firms are required to submit their partnership deed and PAN card to the IT department for filing the Income Tax Return. Firms can apply for a Permanent Account Number Card by application form no.49A. However, a firm must complete certain formalities before filing a PAN Card application. What a partnership firm requires to do before filing for a PAN card which given below:

    • Prepare and duly notarize the partnership deed by a public notary.
    • Define and authorize at least one partner to perform as the manager and sign on behalf of the partnership firm.
    • The Partnership Deed mentioned the date of formation and place of business of the partnership firm.
    • Ensure that every page of the Partnership deed is signed by all the partners and two additional witnesses also.
    • Stamp and authorize the partnership deed using a rubber stamp that holds up the name of the Partnership firm along with the word -partner.
    See also  Foreign Subsidiary Company Compliances

    Documents required for Partnership Pan Card

    • Partnership Deed
    • Digital signature certificate
    • Residence Proof of the office
      • Rental agreement
      • Sale Deed
      • NOC from the owner
        • Service charges that are not more seasoned than 90 days
    • Proof of identity of partner
      • Address proof of all partners
      • An authenticated testimony expressing that the real factors given are precise and valid
      • Certificate of Registration

    PAN Card Online Application Process

    How you can apply for a PAN Card online through the website of the Income Tax Department:

    • Visit the official portal of the NSDL Link
    • Click on the New PAN for Indian Citizen or Form 49A option from the home page.
    • Before starting to fill out the form, make sure you go through all the instructions carefully.
    • Select Firm as your category and fill in the other details requested on the website or application form.
    • In case there is an error in the format then a response will be generated indicating the errors.
    • The applicant should make the necessary changes and re-submit the form.
    • After that, you choose a mode of payment from DD, credit card or debit card, net banking, and through cheque and if completed the payment of Rs.105 is then the process is complete
    • Now you take a print-out of the acknowledgment slip and fix a recent passport-size photo on the slip and attested it with a black pen.
    • After that, you send this acknowledgment receipt to the Income Tax Department along with the other supporting documents within 15 days.

    PAN Card Offline Application Process

    • If you do not have access to the internet then you can apply for a PAN Card by visiting the nearest TIN office.
    • Request for an application form then you can fill the form using a black pen and make sure you go through all the details that are given carefully to avoid any mismatch or mistake or error.
    • The managing partner signs or use the rubber stamp to authorize the application form.
    • Apply along with the essential documents and pay the appropriate registration fees.
    • After verification of the details which is provided or given, then the PAN card will reach the address provided in around 15 days.
    • You may use the acknowledgment number you receive after completing the registration for tracking your PAN Card.
    See also  Income Tax Return in India

    PAN Card Application Details for Partnership Firm

    The details you are required to fill on an application form for obtaining a PAN card as a partnership firm are as follows:

    • Firm’s name according to the Certificate of Registration with an M/S tag
    • Date of fuse as per the organization deed
    • Office address according to the partnership deed
    • In your status of application form select  the Partnership Firm
    • Choose an appropriate business code which is given below
    • Bring up all the supporting documents you will be submitting as proof.
    • Also, provided the place and date at the end.

    Conclusion

    It concluded that A Permanent Account Number is an electronic system through which all the tax-related information for a person or company is recorded against a single PAN number. PAN Card is the vital key for the storage of information and is shared across the country. Partnership firms are required to submit their partnership deed and PAN card to the IT department for filing the Income Tax Return. Firms can apply for a Permanent Account Number Card by application form no.49A.

    eStartIndia will help you in Partnership Firm Registration from the comfort of your home.

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    KyaLu Team
    KyaLu Team
    • Website

    KyaLu is a Professional Affiliate Marketing and Blogging Platform. We will provide interesting content, which you will like very much.

    Related Posts

    Foreign Subsidiary Company Compliances

    Foreign Subsidiary Company Compliances

    October 20, 2022
    Steps To Take Following a Car Accident

    Steps To Take Following a Car Accident

    August 27, 2022
    Startup India Registration

    Startup India Registration

    August 25, 2022
    Add A Comment

    Comments are closed.

    Follow us on:
    • Facebook 25.4K
    • Pinterest 48.3K
    • Instagram 18.5K
    • Telegram 25.4K
    • LinkedIn 23.7K
    How to
    How to Pick The Perfect Travel Accessory

    How to Pick The Perfect Travel Accessory

    June 19, 2022
    How to Get Rid of Pimples Fast

    How to Get Rid of Pimples Fast

    June 5, 2022
    The Top 5 Time Management Tips to Help You Get Ahead

    The Top 5 Time Management Tips to Help You Get Ahead

    June 4, 2022
    How to be a productive person: 10 tips to get more done

    How to be a productive person: 10 tips to get more done

    June 4, 2022
    How to increase the followers on Instagram in just 9 easy steps!

    How to increase the followers on Instagram in just 9 easy steps!

    June 4, 2022
    Categories
    About Us

    KyaLu is a Professional Affiliate Marketing and Blogging Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Affiliate Marketing and Blogging, with a focus on dependability and Shopping Suggestions. We’re working to turn our passion for Affiliate Marketing and Blogging into a booming online website. We hope you enjoy our Affiliate Marketing and Blogging as much as we enjoy offering them to you.

    We will keep posting more important posts on my Website for all of you. Please give your support and love.

    Latest Post
    7 photo shoot ideas for birthday

    7 photo shoot ideas for birthday

    January 1, 2023
    3 Days in Udaipur – How to Explore Like a Pro?

    3 Days in Udaipur – How to Explore Like a Pro?

    December 17, 2022
    1 2 3 … 283 Next
    Newsletter Signup
    [lead-form form-id=1 title=Subscribe to Newsletters]
    Facebook Twitter Instagram Pinterest Telegram
    • Subscribe
    • Contact Us
    • About us
    • Privacy Policy
    • Disclaimer
    © 2023 kyalu.in

    Type above and press Enter to search. Press Esc to cancel.