How to Apply for a PAN Card for Partnership Firm?

The Partnership Act, 1932 regulates firms in India that form a partnership through an oral or written agreement. These firms need to have a PAN card to file Income Tax Returns (ITR). Here’s everything you need to know about PAN application for partnership firms – how to apply for a PAN card for Partnership firms online and offline, details the firms are required to furnish in Form 49A, business codes and documents required. Keep reading!

Elements Required for the Formation of a Partnership Firm

Before applying for a partnership PAN card, a company must go over the following elements to confirm it as a partnership firm. 

• Number of persons involved in the partnership
• Contract or deed of partnership 
• Business agreement to carry on with the business
• Mutual agency
• Sharing of profits  

Requirements Before Partnership Firm PAN Card Application

A firm’s partners should finish these formalities before applying for a partnership firm PAN card:

• Notarise the firm’s partnership deed 
• One partner must be given authority (defined as an authorised partner) to sign on the firm’s behalf and serve as a manager
• The partnership deed must specify the place and date of origin of business
• Partners of a firm and two witnesses should sign every page of the deed.
• Stamp the deed with a rubber stamp, carrying the partnership firm’s name and the term ‘partner.’

Documents Required for Partnership Firm PAN Card Application

Here are the documents required for partnership firm PAN Card : 

• Partnership firm’s registration certificate
• Proof of address of partners
• Identity proof of each partner
• Address proof of office documents such as utility bills (past 3 months), owner’s NOC, sale deed or rental agreement
• Authorised partner’s digital signature certificate

How to Apply for PAN Card for Partnership Firm Online?

How to Apply for PAN Card for Partnership Firm Offline?

Step 1: Purchase a copy from a UTIISL agent or download the PAN card application form from the NSDL or UTIISL websites.

Step 2: Complete the form and attach any supporting documents (proof of identity, address and photographs)

Step 3: Submit the form and documents, along with the processing fee, to the NSDL office.

Step 4: The PAN card will be mailed to the specified address within 15 business days.

Step 5: The partner must sign or use the rubber stamp on the form

Step 6: Submit the form and the required fee.

After document verification, you will receive the PAN card at the partnership firm’s registered office within 15 to 20 days. You can check PAN status online using the acknowledgement number provided after you submitted your form.

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Details Required in Form 49A 

A partner must furnish these details in the PAN application form:

Step 1: Provide the firm’s name as mentioned in the Certificate of Registration (the Registrar of firms issues such a certificate, with M/S used before the applicant’s name)

Step 2: Mention the firm’s incorporation date as specified in the partnership deed

Step 3: Specify the firm’s office address as mentioned in the deed

Step 4: In the ‘Status of Applicant’ section, select ‘Partnership Firm’

Step 5: Give the partnership firm’s registration number as per the deed

Step 6: In the ‘Source of Income’ section, select ‘Income from business/profession’

Step 7: Select the relevant business code depending on the firm’s business

Step 8: Specify necessary documents you are submitting with Form 49A/ acknowledgement slip (for online mode of application) to the IT Department/TIN-FC office

Step 9: Provide the authorised partner’s name in the declaration section

Step 10: The authorised partner must put his/her signature on the form across the photo that is affixed to the left top corner of the form

Step 11: The form should be filled only in English, with block letters and preferably in black ink.

Step 12: In the space provided on the top corners of the form, the applicant must attach two recent colour photographs. Ensure that the photographs are not stapled or clipped to the form because they will be displayed on the PAN card.

How to Fill PAN Card Application Form for Partnership Firm?

Step 1: Enter the firm’s name as it appears on the Partnership Deed or Certificate of Registration. The name you enter here will be the same as the name on your PAN card, so enter it carefully.

Step 2: Enter the Partnership Deed’s Date of Incorporation.

Step 3: Mention your office address as it appears in the Partnership Deed.

Step 4: Select the applicants’ status as a Partnership Firm.

Step 5: Enter the firm’s registration number.

Step 6: In the source of income column, select business or another option as appropriate.

Step 7: In the provided space, list the documents required for Proof of Identity, Proof of Address, and Date of Incorporation.

Step 8: The managing partner will sign  mentioning his or her name, location, and date in the declaration column

Chart of Business Codes  

Refer to the above-mentioned list while selecting your line of business in the PAN application form. 

Points to Remember Before Applying for Partnership Firm PAN Card

One should keep these points in mind while applying for a partnership firm PAN card:

• The deed should mention one partner as the managing partner. He/she will be liable to provide his signature on all official documents on behalf of the company. 
• The partnership must be authorised by a notary of India. 
• The establishment date of the partnership has to be mentioned. 
• Each shareholder has to sign all sections of the partnership certificate. 
• Contact details and the address of the firm should be refurbished in the partnership contract. 
• The firm needs to avail a rubber stamp with the firm’s name and the word ‘Partner’. This has to be used by the managing director to sign the official papers. 

Final Word

While opting for a partnership firm PAN card, only 1 partner must sign Form 49A. You can rectify any mistake in the form and resubmit it. You must keep photocopies of the registration certificate and the partnership deed handy. A PAN card for partnership firms is helpful for filing ITR and also acts as proof of the firm’s existence. So, go ahead and apply now!

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