Business or Company PAN Card

Last Updated at: May 11, 2020
161
Business or Company PAN Card
  1. Is PAN mandatory for companies?

  2. What happens if you don’t have a PAN Card?

  3. How to do PAN Card correction online

  4. Address of the NSDL office

  5. Is PAN mandatory for companies?

As per the provisions mentioned in the Income Tax Act of 1961, when comes to business or company PAN card, a PAN is a must for all individuals, companies, partnerships, etc. It is the tax identity for any individual or business that is generating income.

Are you the owner of a business or a company operating in India? If yes, then the PAN bears even more significance for you. You need to have a PAN even if your company is incorporated abroad. You must mention your PAN in all invoices and remittances and also while making any kind of financial transactions.  If you do not have a PAN, you may be considered by the Department to be concealing important information related to your financial transactions from them. 

What happens if you don’t have a PAN Card?

If your company is without a PAN, you can’t enjoy the tax benefits offered by the Government of India and you will be liable to pay taxes at the highest rate applicable. As per the Income Tax rules in India, the following entities require a PAN-

  • Companies
  • Association of persons
  • Limited companies
  • Partnership firms
  • LLPs(Limited Liability Partnerships)
  • Trusts
  • Bodies of individuals
  • Incorporations
  • Private Firms
  • Hedge funds
  • Foreign institutional investors

How to do PAN Card correction online

By now, you must have had an idea that a PAN is not just any ordinary string of digits and letters. It is the tax identity for any company or business that is generating income. Any incorrect information appearing in your PAN card may land you in problems. Therefore, if you have spotted any misinformation/error in your PAN card, you should make the necessary corrections immediately. 

Ask for Free Legal Advice

You can make changes in your PAN card both online and offline, with a few simple steps. You can download the pan card correction form in PDF form here.

Here are the steps to follow if you want to make changes to your PAN card online-

Step 1

Visit the NSDL portal by clicking the URL   

Step 2

From the ‘Application Type’ drop-down menu, select ‘Change or Correction in Existing PAN data’. The following pan card correction form will appear on your screen.

pan card correction form

Step 3

Fill in your details in appropriate boxes. Write ‘M/S’ in ‘Title’ and your company name in the ‘Last Name ‘box. Mention your PAN correctly. After you fill in the details, enter the Captcha code, and click ‘Proceed’. An auto-generated token number will be sent to your email address. 

Step 4

You will be redirected to a new page as shown below.

redirected to a new page

Check ‘Submit scanned images through e-Sign’ on the top. Insert your PAN in the space provided.

Step 5

Fill in all the mandatory fields with your details. Make sure to select the checkbox adjacent to the parameter you want to change. For example, if you want to change the spelling of your company name, insert the correct spelling, and select the checkbox on the left. The changes will be made only for the parameter(s) for which you select the checkbox. Click ‘next’ after checking all your details for accuracy. 

Fill in all the mandatory fields with your details

Fill in all the mandatory fields with your details

Fill in all the mandatory fields with your details

Step 6

You will be directed to a page where you will need to upload valid documents related to the proof of your identity, residence, and age. You will also need to upload your photograph and signature in the format and size specified. After you submit the pan card correction form, the same will be available for your review. After checking for errors, click the ‘submit’ button. 

pan card correction form

pan card correction form

Step 7

In this step, you need to pay the requisite fee. You can make the payment through debit/credit card, net banking, and demand draft. The demand draft should be in favor of NSDL-PAN, payable at Mumbai. 

Step 8

On successful submission of payment, an acknowledgment receipt bearing a 15-digit acknowledgment number will be sent to your email id.  With this number, you can track your application status at the NSDL website. 

track your application status

Step 9

You need to send the following to the NSDL office-

  • Acknowledgment receipt, signed by the authorized signatory( Director for a company/Karta for a HUF, Trustee for a trust/ Partner for an LLP or firm)
  • Copy of company registration certificate
  • Demand draft, if payment is made offline

Address of the NSDL office is

Income Tax PAN Services Unit,

NSDL e-Governance Infrastructure Limited,

5th floor, Mantri Sterling, Plot No. 341,

Survey No. 997/8, Model Colony,

Near Deep Bungalow Chowk, Pune – 411016

Please keep in mind the below-mentioned points – 

  • Please take care to select the correct checkbox (against the field asked for correction) while submitting the pan card correction form.
  • While sending the acknowledgment slip to NDSL office, you should super-scribe the envelope with the words-  ‘APPLICATION FOR PAN CHANGE REQUEST’
  • It should reach the NSDL office  inside 15 days from the online application date

 

 

 

0

Business or Company PAN Card

161
  1. Is PAN mandatory for companies?

  2. What happens if you don’t have a PAN Card?

  3. How to do PAN Card correction online

  4. Address of the NSDL office

  5. Is PAN mandatory for companies?

As per the provisions mentioned in the Income Tax Act of 1961, when comes to business or company PAN card, a PAN is a must for all individuals, companies, partnerships, etc. It is the tax identity for any individual or business that is generating income.

Are you the owner of a business or a company operating in India? If yes, then the PAN bears even more significance for you. You need to have a PAN even if your company is incorporated abroad. You must mention your PAN in all invoices and remittances and also while making any kind of financial transactions.  If you do not have a PAN, you may be considered by the Department to be concealing important information related to your financial transactions from them. 

What happens if you don’t have a PAN Card?

If your company is without a PAN, you can’t enjoy the tax benefits offered by the Government of India and you will be liable to pay taxes at the highest rate applicable. As per the Income Tax rules in India, the following entities require a PAN-

  • Companies
  • Association of persons
  • Limited companies
  • Partnership firms
  • LLPs(Limited Liability Partnerships)
  • Trusts
  • Bodies of individuals
  • Incorporations
  • Private Firms
  • Hedge funds
  • Foreign institutional investors

How to do PAN Card correction online

By now, you must have had an idea that a PAN is not just any ordinary string of digits and letters. It is the tax identity for any company or business that is generating income. Any incorrect information appearing in your PAN card may land you in problems. Therefore, if you have spotted any misinformation/error in your PAN card, you should make the necessary corrections immediately. 

Ask for Free Legal Advice

You can make changes in your PAN card both online and offline, with a few simple steps. You can download the pan card correction form in PDF form here.

Here are the steps to follow if you want to make changes to your PAN card online-

Step 1

Visit the NSDL portal by clicking the URL   

Step 2

From the ‘Application Type’ drop-down menu, select ‘Change or Correction in Existing PAN data’. The following pan card correction form will appear on your screen.

pan card correction form

Step 3

Fill in your details in appropriate boxes. Write ‘M/S’ in ‘Title’ and your company name in the ‘Last Name ‘box. Mention your PAN correctly. After you fill in the details, enter the Captcha code, and click ‘Proceed’. An auto-generated token number will be sent to your email address. 

Step 4

You will be redirected to a new page as shown below.

redirected to a new page

Check ‘Submit scanned images through e-Sign’ on the top. Insert your PAN in the space provided.

Step 5

Fill in all the mandatory fields with your details. Make sure to select the checkbox adjacent to the parameter you want to change. For example, if you want to change the spelling of your company name, insert the correct spelling, and select the checkbox on the left. The changes will be made only for the parameter(s) for which you select the checkbox. Click ‘next’ after checking all your details for accuracy. 

Fill in all the mandatory fields with your details

Fill in all the mandatory fields with your details

Fill in all the mandatory fields with your details

Step 6

You will be directed to a page where you will need to upload valid documents related to the proof of your identity, residence, and age. You will also need to upload your photograph and signature in the format and size specified. After you submit the pan card correction form, the same will be available for your review. After checking for errors, click the ‘submit’ button. 

pan card correction form

pan card correction form

Step 7

In this step, you need to pay the requisite fee. You can make the payment through debit/credit card, net banking, and demand draft. The demand draft should be in favor of NSDL-PAN, payable at Mumbai. 

Step 8

On successful submission of payment, an acknowledgment receipt bearing a 15-digit acknowledgment number will be sent to your email id.  With this number, you can track your application status at the NSDL website. 

track your application status

Step 9

You need to send the following to the NSDL office-

  • Acknowledgment receipt, signed by the authorized signatory( Director for a company/Karta for a HUF, Trustee for a trust/ Partner for an LLP or firm)
  • Copy of company registration certificate
  • Demand draft, if payment is made offline

Address of the NSDL office is

Income Tax PAN Services Unit,

NSDL e-Governance Infrastructure Limited,

5th floor, Mantri Sterling, Plot No. 341,

Survey No. 997/8, Model Colony,

Near Deep Bungalow Chowk, Pune – 411016

Please keep in mind the below-mentioned points – 

  • Please take care to select the correct checkbox (against the field asked for correction) while submitting the pan card correction form.
  • While sending the acknowledgment slip to NDSL office, you should super-scribe the envelope with the words-  ‘APPLICATION FOR PAN CHANGE REQUEST’
  • It should reach the NSDL office  inside 15 days from the online application date

 

 

 

0

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