PAN Card for Partnership firm
All Partnership Firms in India governed as per Indian Partnership Act 1932. As per Section 4 “Partnership is a relationship between two people who have agreed to share profits of a business carried on by all or any of them acting for all “. All those who have entered into the Partnership must have a PAN card for Partnership Firm. At the time of filing Income Tax Return, it is a must to submit either certificate of registration or Partnership deed which works as proof of the firm’s existence along with PAN Card form 49A.
What are the essential elements related to a Partnership firm?
Contract of Partnership
Number of Persons
Agreement to carry on business
Sharing of profits
Mutual agency in Partnership
Required documents to apply for PAN Card for Partnership Firm
A Partnership deed duly notarized by Notary in India
Date of formation of Partnership
Address of the Firm
Partnership deed should define one partner as a Managing Partner who will be responsible to sign on behalf of the firm.
All pages of deed should be signed by all the partners.
Rubber stamp with the name of Partner at the bottom. This can be used by the Managing Partner to sign the application form for PAN card.
Process to apply for PAN Card online for a Partnership firm.
- Log into the NSDL portal https://www.onlineservices.nsdl.com/paam/endUserRegisterContact.html
- Form is applicable for both Indian citizens residing in India and outside India.
- Applicants need to fill Form 49 A and then submit the form.
- If the data that is to be submitted, stuck at any level of the validation, then error(s) will be displayed on the screen.
- The application should rectify the error immediately and after that re-submit the form.
- If there is no error in formatting, a confirmation screen will be displayed with all the data which was filled by the applicant
- The applicant either does editing, if required or provide confirmation.
- After that, select the mode of payment. Payment can be done in any form that is Cheque, Demand Draft, Debit Card or Net Banking.
How to apply for PAN Card offline for a Partnership Firm?
- One should either collect a PAN Card application form from UTIITSL agents or download the PAN Card application from the website of UTIITSL.
- After that, fill all the required details in the PAN application form along with attaching the supporting documents such as identity proof, photographs, and address. Make sure that the applicant should fill the form with a black ballpoint pen.
- Submission of form along with supporting documents done at the NSDL office along with processing fee. PAN application fee for Partnership firms is Rs 105.
- Managing Directors need to make sure that form should be duly signed by him or her along with a rubber stamp on it.
- In the "Declaration" section, the authorized partner must write their name, place,and date.
- After the verification of all documents taken place along with the proper checking of details mentioned in the PAN Card application form by PAN authorities, PAN card will be sent at the mentioned address within 15 working days.
Things to keep in mind while filling PAN card application for Partnership Firms
- Enter the name of the firm as per it is mentioned in the Certificate of Registration of Partnership Deed. As Partnership is non-individual, you can select “M/S’’ and start writing the name from the first block which is meant for the surname.
- The name mentioned in the form will be the name printed on PAN Card.
- Enter the date of Incorporation as mentioned in the Partnership Deed.
- For ‘Status of Applicant’, you can select ‘Partnership Firm’.
- For “Sources of Income”, you can select an option “Income from business or profession”. Select the option which applies to your firm.
- You need to make a selection of your business code according to the business you are conducting.
Business Code
| Code |
Profession or Business |
01 |
Medical Profession and Business |
02 |
Engineering |
03 |
Architecture |
04 |
Chartered Accountant |
05 |
Interior Decoration |
06 |
Technical Consultancy |
07 |
Company Secretary |
08 |
Legal Practitioner and Solicitors |
09 |
Government Contractor |
10 |
Insurance Agency |
11 |
Films, TV and other such entertainment |
12 |
Information Technology |
13 |
Builders and Developers |
14 |
Members of Stock Exchange, Share Brokers, and Sub-Brokers |
15 |
Performing Arts and Yatra |
16 |
Operation of Ships, Hovercraft, Aircrafts and Helicopters |
17 |
Plying Taxis, Lorries, Trucks, Buses and Commercial Vehicles |
18 |
Ownership of Horses or Jockeys |
19 |
Cinema Halls and Theatres |
20 |
Others |
- Mention the details of all documents you are submitting as an identity proof, address proof and date of birth proof. Along with that you can submit partnership deed. In case, your firm registered with Registrar of firms, you can submit copy of registration.
- In the ‘Declaration’ section, authorized partner write date, place and their name.
TIPS ON PAN CARD FOR PARTNERSHIP FIRMS
- Only one partner is required to sign the form.
- The form to be filled only by a Managing Partner.
- All errors in the PAN application form can be resubmitted and rectified.
- Keep a copy of Partnership deed or Certificate of Registration ready.
- No photograph is required
- You can able to track the PAN Card for Partnership firms online with the help of acknowledgment number you receive after submitting the form.
