How to Apply for a PAN Card for Partnership Firms?

Every partnership entity requires a Permanent Account Number (PAN) card to transact in the monetary and taxation system and fulfil other responsibilities. This alphanumeric ID issued by the Indian Income Tax Department is vital for observing financial activities and ensuring compliance with tax laws.

Knowing how to get a PAN card for a Partnership Firm is crucial for efficient running and legal obedience.

Keep reading to learn about the PAN card for Partnerships Firm, its core components, documentation process, application procedure, etc.

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PAN Card for Partnership Firm Elements
Formalities Before Applying
Documents Required
Apply PAN Card for Partnership Firms Online & Offline
PAN Card Application Form
Process to Fill PAN Card Application
Business Code in PAN Application
Tips on PAN Cards for Partnership Firms
Frequently Asked Questions

Essential Elements of a PAN Card for Partnership Firm

The essential elements required for a Partnership PAN Card (Permanent Account Number) include:

Name of the Firm: This needs to be the correct name for the partnership organisation. It should also match with the name registered under the Registrar of Firms.
Address of the Firm: The registered office address of the partnership organisation as mentioned in the partnership deed.
Letter of Registration: A letter from the partnership firm on its letterhead mentioning the need for Permanent Account Number card issuance and other essential details.
ID Proof of Partners: Authentic PAN cards of all partners associated with the partnership business.
Partnership Deed: A copy of the partnership deed is primarily needed to ascertain the existence and details of the partnership firm.
Registration Certificate: A copy of the registration certificate from the Registrar of Firms is also required to ensure the authenticity of the partnership firm.
Application Form: Form 49A must be filled out accurately and submitted to the Income Tax Department.
Photographs: Current passport-size photos of all partners
Address Proof: Proof of the registered office address of the Partnership Firm, such as lease agreement or electricity bills.
Payment: Processing charges for PAN card, if applicable.

The procedure and requirements may differ depending on the jurisdiction and the current rules of the Income Tax Department.

Formalities Before Applying for PAN Card for Partnership

The partners of a partnership firm need to obey and complete the following formalities before availing a PAN card of the firm:

The Partnership Deed must mention one partner as a managing partner responsible for signing on behalf of the firm.
The notary in India must duly notarise a Partnership Deed.
The partnership deed should clearly state the date of formation and location of the partnership organisation's business.
Ensure that all the partners sign all pages of the partnership deed
Use a rubber stamp to stamp the partnership deed comprising the name of the partnership firm and the word – 'Partner’.

Documents Required to Apply for PAN Card for Partnership Firms

Partnership firms need to furnish the following documents while applying for a PAN card:

Partnership Deed (original or attested copy)
Copy of PAN cards of all partners
Address proof of the partnership firm (rental agreement, electric bills, etc.)
ID proof of partners (Aadhaar card, passport, voter ID, etc.)
Photos of partners
An application letter is on the company's letterhead requesting issuing a PAN card.

How to Apply PAN Card for Partnership Firms Online?

Mentioned below is the simple step-by-step process to apply for a Partnership Firm PAN card online:

Step 1: Go to the official NSDL website that provides PAN card application services online.

Step 2: Click on the option ‘New PAN – Indian Citizen (Form 49A)’ for Indian companies or “New PAN – Foreign Citizen (Form 49AA)” for foreign companies.

Step 3: Read the instructions before completing the application form online. The form requires certain details, such as the firm's name, address, contact details, and so on. Fill in all the essential fields accurately.

Step 4: After this, you will be asked to pick the type of entity for which your PAN card is required. Click on “Firm” as the type of entity.

Step 5: Upload the necessary documents, such as ID proof, address proof, and business registration proof. Make sure that the documents are readable and genuine.

Step 6: Verify the details given in the application form before making payment. The application charges can be paid via debit cards, credit cards, UPI, or net banking.

After paying the application charges, submit the application form and obtain the acknowledgement receipt for future reference.

How to Apply PAN Card for Partnerships Offline?

Alternatively, partnership firms can also apply for a PAN card for partnership firms offline by following these steps:

Step 1: First, visit the NSDL website and download Form 49A for applying for a PAN card. This form can be used to apply at TIN facilitation centres, and you can also get it from any TIN facilitation centre.

Step 2: Complete the form correctly with all required information, such as firm name, contact details, address, etc. The form also includes a list of documents to be submitted as proof, including ID proof, address proof, and proof of business registration.

Step 3: Attach these papers with the application form and ensure all documents are genuine and readable.

Step 4: Complete the form and submit it with your documents at a PAN or TIN facilitation centre. Remember to carry the original documents and their self-attested photocopies for verification.

Step 5: Pay the processing fee at the PAN or TIN facilitation centre in cash, cheque or demand draft.

You will get an acknowledgement receipt once you submit the application and pay the fee. Remember to keep it handy so that you can track your application status. Remember to keep it handy so that you can track your application status.

What is a PAN Card Application Form?

Form 49A or Form 49AA is a must for procuring a Permanent Account Number (PAN), commonly referred to as the PAN card application form. The Income Tax Department uses the PAN card as a taxpayer identification tool, gathering personal information such as birth dates and tax identification numbers.

It also collects details on entities' or persons' addresses and other related data, including photographs that are mandatory supporting documents along with proofs of identity. Once the form is duly filled, it has to be submitted to authorised PAN service providers or the Income Tax Department for further processing after submission.

How to Fill PAN Card Application Form for Partnership Firm?

The procedure to fill out the application form for a new PAN Card for a partnership firm is mentioned below:

Step 1: First, enter the firm's name as mentioned in the Certificate of Registration or the Partnership Deed. The name you write in the form will be displayed on the PAN Card.

Step 2: Enter the incorporation date as stated in the Partnership Deed.

Step 3: Provide your office address as stated in the Partnership Deed. Under ‘Status of Applicant,’ you can choose ‘Partnership Firm.’

Step 4: For ‘Source of Income’, click on ‘Income from Business or Profession’.

Step 5: After this, you need to choose your Business Code based on your associated business.

Step 6: Submit the documents alongside the application form, such as ID proof, address proof, and date of birth. You must submit a copy of the Partnership Deed and the ‘Registration Certificate’ if your firm is registered with the ‘Registrar of Firms.

Step 7: In the ‘Declaration’ part, the authorised partner of the partnership firm should put their full name, location, signature, and date.

What is the Business Code in PAN Application?

The table below shows the list of business codes alongside the type of businesses/professions associated with it:

Codes	Businesses/Professions
1	Medical Profession/Chemist Businesses
2	Engineering
3	Architecture
4	Chartered Accountants
5	Interior Decoration
6	Technical Consultancy
7	Company Secretary
8	Legal Practitioners and Solicitors
9	Government Contractors
10	Insurance Company
11	Films, Television, and other entertainment
12	Information Technology
13	Builders and Developers
14	Share Brokers and Sub-Brokers, Members of Stock Exchange
15	Performing Arts and Yatra
16	Operation of Ships, Aircraft, Helicopters, or Hovercraft
17	Plying Taxis, Buses, Trucks, Lorries, or other Commercial Automobiles
18	Ownership of Jockeys or Horses
19	Cinema Halls and Other Theatres
20	Others

Tips about PAN Cards for Partnership Firms

Following are the essential tips regarding PAN Card for Partnership Firms:

Only one partner can fill out and sign the Partnership PAN application form.
A copy of the Partnership Deed or Certificate of Registration is necessary.
No photograph is necessary.
A minor mistake in the PAN application form must be rectified and resubmitted.
An application fee of ₹105 will be charged.
PAN cards for partnership firms will be delivered within 15-20 days from the date of application.
You can track your PAN card application for partnership firm status online with the acknowledgement ID you get after submitting the form.

In a nutshell, availing a PAN card for a Partnership Firm in India is essential for partnership business firms. It helps determine the firm’s authenticity and streamlines financial transactions, tax filings, and various legal compliances.

The partnership PAN card also enhances the credibility and transparency of the firm in business. Before obtaining their PAN card, partnerships must correctly complete all essential formalities mentioned above.

FAQs about PAN Card Application Process for Partnership Firm

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How can a Partnership Firm check the application status of a PAN Card?

Partnership Firms can easily track the status of their PAN card online by visiting the official NSDL PAN website.

What is the estimated time of processing a Partnership PAN card application?

PAN cards for partnership firms are usually processed in 15 to 20 working days from the date of submission unless there are errors or modifications in the application.

Is there a specific validity period for a Partnership Firm PAN card?

Partnership Firm PAN Card has no expiry date; it is valid until changes or errors occur.

What is the cost of a partnership firm PAN Card?

The fee can range from ₹105 to ₹1,077, depending on whether you choose an online or offline application and whether you opt for an e-PAN card or a physical PAN card.

Why is a PAN card important for a partnership firm?

A partnership PAN Card facilitates paying taxes, filing tax returns, and performing other financial transactions related to finance. Additionally, it boosts the credibility of the partnership firm and ensures its compliance.

Can a partnership firm obtain PAN without a registered office address?

Getting a PAN card without an office address registered with the government is impossible— if the partnership firm does not have one, rejection is inevitable.

Is there a penalty for not having a PAN card for the partnership firm?

Yes, such actions can lead to penalties under the Income Tax Act. To avoid any legal consequences, it would be wise to possess a PAN card.

Can a partnership firm be issued with more than one PAN card?

No, each partnership firm is allotted only one Permanent Account Number (PAN) card as its identification symbol.

How long does it take to receive the partnership PAN Card?

It takes around 15-20 days to get the partnership PAN Card.

Is it notary necessary for a partnership PAN Card?

Yes, it is mandatory to be notarised for a partnership deed by a public notary.

What information is necessary for the partnership PAN Card?

The application form requires the firm’s name according to the registration certificate, incorporation date, office address, applicant status at the firm, business code, authorised partner’s signature, and other necessary details.