BUSINESS REGISTRATION

PAN/TAN Registration

Overview
Documents Required
Process

PAN stands for Permanent Account Number. PAN is a ten-digit unique alphanumeric number issued by the Income Tax Department. PAN is issued in the form of a laminated plastic card (commonly known as PAN card). All existing assesses or taxpayers or persons who are required to furnish a return of income, even on behalf of others, must obtain PAN. TAN is Tax Deduction and Collection Account Number, TAN is a 10-digit alphanumeric number and issued to persons who are required to deduct tax or collect tax as per provisions of TDS/TCS on payments made by them.

The person deducting the TDS is required to deposit the tax deducted to the credit of the Central Government by quoting the TAN number, TDS amount, the entity registered for TAN. TAN application is sent in form 49B and quarterly TDS returns need to be filed. Deducting entity would issue a TDS certificate to a person/entity whose tax has been deducted.

Frequently Asked Questions

Who can apply for PAN card?

Any Indian citizen, including a minor, can apply for allotment of Permanent Account Number by furnishing valid proof and documents. Foreign individual or entity can also apply for PAN allotment.

Whether new business requires PAN card?

Yes, every business established in India must apply for PAN card online or offline within the 30 days of establishment. However, sole proprietorship firm does not need so as it does not have a separate identity from its owner.

In how much time is the Permanent Account Number (PAN) allotted?

Once the application for PAN Card is forwarded, generally it takes 5 – 7 working days for allotment of PAN. However, receipt of physical PAN card may take time.

What is the validity of PAN card?

The Permanent Account Number, once allotted, comes with lifetime validity for individuals and business entities. If the businesses entities are dissolved or closed, it must surrender the allotted PAN.

Can I hold more than one PAN card?

A Person cannot hold more than one PAN card. If a person holds more than one PAN, a penalty of Rs. 10,000/- may be imposed under section 272B. Therefore, the person holding more than one PAN must surrender it immediately.

Can a PAN be used instead of TAN?

No, a PAN cannot be used instead of TAN. PAN and TAN serve two different purposes. Therefore, it is mandatory for those deducting tax at source to obtain a TAN.

What are the due dates to file TDS Returns?

TDS Return should be filed quarterly on the 31st day of July, October, January and May. The TDS return filed on these months will correspond to the transaction of the preceding three months.

Documents Requirement for PAN Application

Address Proof – Copy of Aadhar Card or other address proof, in case of individual
Photograph – Two passport size photograph, in case of individual
Birth Certificate – Copy of Birth Certificate, in case of Minor
Proof from Parents – ID proof and Address proof of any of the parent
Certificate of Incorporation – CoI in case of company and LLP
Agreement – Agreement in case of LLP and Partnership Firm

Documents Requirement for TAN Application

Address Proof
Copy of Aadhar Card or other address proof
Applicants Information – Name, contact details, and signature of the applicant
Certificate of Incorporation – Certificate of Incorporation in case of company and LLP
Agreement – Agreement in case of LLP and Partnership Firm

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PAN/TAN Registration

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Never let the businessman see down by giving your business a shining name with PAN/TAN Registration registration. It is extremely easy to start and run!

Why choose Company registration in INDIA ?

Shields from personal liability and protects from other risks and losses.
A registered company makes it genuine and increases the authenticity of your business.
Procures bank credits and good investment from reliable investors with ease.