Confused which type of PAN card you would require?
A PAN card is intrinsic to any financial transaction (business or personal). However, the PAN card types are not the same for all residents and non-resident entities in India.
You will receive a specific PAN card based on the type of entity you are – an individual, HUF, foreigner, company, etc. For example, the PAN card that you get as an individual will not be the same as the PAN card you get for your company.
In this article, let’s get clear on the different types of PAN cards and the documents and forms you need to fill for each of them.
Table of contents
Types of PAN Card
Both individuals and business entities residing in India and abroad are eligible to apply for a PAN card. The Income Tax Department issues the PAN cards based on the applicant’s category. The PAN card category can be mainly divided into the below-given types:
- Indian Resident Individuals.
- Foreigners.
- Non-Resident Indians.
- Hindu Undivided Family PAN Card.
- Companies.
- Partnerships and Firms.
- Trusts.
- Society.
PAN Card for Indian Resident Individuals/Hindu Undivided Family
Hindu Undivided Families(HUF) and Indian citizen individuals are required to apply for a PAN card using Form 49A. The PAN card issued to the applicant will have their photograph, or in the case of HUFs, it will have the photo of the head of the family. The fee for applying for such a PAN card is Rs. 101(including GST). Given below are some of the documents required to apply for a PAN card:-
- Identification Proof: Voter ID card/Ration card/passport/driving licence/arm’s licence/Aadhaar card copy/CGHS card/government-issued ID card/pensioner card/bank certificate.
- Address Proof: Copies of electricity bills/landline phone bills/internet bill/bank account statement/credit card statement/passport/post office account passbook/Voter ID card/latest property tax assessment order/domicile certificate/Aadhaar card/Allotment letter.
Foreigner’s PAN Card
The rapid expansion of the Indian industrial sector and the booming Indian economy has attracted several foreign investors. A PAN card is one of the most important documents to carry out business and financial transactions. Foreign individuals can apply for a PAN card by filling out Form 49A.
The foreigner’s PAN card contains various details like PAN, full name, father’s name, a photograph of the cardholder, date of birth, gender, signature, and QR code. The process for making any changes in the PAN card is similar to those of Indian applicants.
The fee for foreigners applying for a PAN card depends on whether their registered address is in India or overseas. For an Indian communication address, the PAN card fee is Rs. 101 (including GST), while the fee for an overseas address is Rs 1017.
PAN Card for Companies/Trusts/Partnership Firms
Companies, trusts, or partnerships registered in India can apply for a PAN card on the UTIITSL, NSDL or MCA (Ministry of Corporate Affairs) portal. Cards issued to Indian business entities bear the company’s name, registration date, hologram, QR code, PAN, and allotment date.
Companies have to use Form 49A for making PAN card applications through the UTIITSL or NSDL portals. If the company applies through the MCA portal, they will be required to fill in the SPICe-INC 32 Form. However, any changes or updations to the PAN card can only be made through the UTIITSL or NSDL portal by submitting Form 49A.
PAN Card for Foreign Companies
Foreign entities planning to invest in India are required to get a PAN card to set up business operations in the country. Such entities can apply for a PAN card on the UTIITSL or NSDL portal by submitting Form 49AA.
Your PAN card will be sent to the registered communication address within 45 days. A PAN card for foreign companies costs Rs. 107 (including GST). Given below are the mandatory documents for the PAN card application process:-
- Copy of registration certificate issued in the country or a copy of the approval granted by Indian government authorities.
- Copy of registration certificate issued in the applicant’s home country, duly attested by the Indian Embassy or India consulate in the country.
PAN Card for Societies
Society is the association of two or more individuals with the purpose of income generation. Such entities can make PAN card applications on the NSDL or UTIITSL online portals using Form 49A.
The PAN is an important document for societies as it is used by the income tax authorities to track income tax transactions. Given below are some of the documents to be submitted in such PAN card applications:
- Copy of formation agreement.
- Copy of registration certificate number issued by a Charity Commissioner or local authority.
- State or Central Government-issued identity documents.
What are the Different PAN Card Forms?
The PAN card applications can be made on the UTIITSL or NSDL website by submitting the applications online. The form you will need to fill out depends on the category of applicant you fall under. Given below are the 2 forms that can be used to make PAN card applications:-
- Form 49A: Indian individuals and business entities are required to submit this form to make a PAN card application. This form can also be used to make PAN card applications for minors and students.
- Form 49AA: Foreign registered companies and individuals need to use this form to make PAN card applications. The PAN card will have details like name, address, phone number, and AO.
Summing Up
A PAN card is not only a crucial document for identification and taxation but also for any kind of financial transaction. Whether you are a citizen of India, an NRI or a foreigner, a PAN card is a must-have document that can help you smoothen investment and business processes in the country.
Before a PAN card application, always make sure to understand its prerequisites and the PAN card type you would need. Additionally, you should always be mindful to only make PAN card applications from government websites like UTIITSL, NSDL or MCA portal.
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