What is an Indian PAN Card Number?
The Permanent Account Number (PAN Number India) is the income tax identification number for identifying a taxpayer . A foreign company, which derives taxable income from India may also need to apply for Indian PAN Card, unless it is specifcally exempt from filing tax return in India. Further, Indian PAN Card can be applied online alongwith certain documents , that needs to be provided physically to the Indian tax authorities.
Why is it necessary to apply for Indian PAN Card for Foreign companies ?
PAN Card India is used for purposes like:
- Filing Tax Returns in India, or
- Getting Tax Refunds in India, or
- To file Form 10F in India (which is a form required to get lower tax benefits under Tax Treaty), etc.
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How to apply for an Indian PAN Card for a Foreign Company ?
A Foreign Company has to file an application online with the Tax Authorities which contains information such as:
- Name of the Company
- Registered/ Postal Address of the Company
- Source of Income of the Company
- Date of Incorporation of the company, etc.
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Online Process for PAN India
The process of applying for PAN India is simplified with online procedure. Also, it can be applied physically as well through PAN Application Centres.
It is essential to ensure that the information and documents provided for PAN number India are correct in nature so as to avoid any kind of rejection or delays.
Documents Required for PAN Card India
For the purpose of registering for PAN, a foreign company is required to attach certain documents with the Income Tax Department. So, these documents include:-
Proof of Identity: This can be the copy of the certificate of registration issued by the company’s country of origin attested by Apostille, or Indian Embassy or the High Commission or Consulate etc.
Proof of Address: Proof of the company’s physical address.
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Process of applying for an Indian PAN Card by a Foreign Company
- Apply for Indian PAN through online mode:- The foreign company can apply for a PAN online on the NSDL website and fees is to be paid. Further, if the payment is through Net Banking/ Credit Card, etc., it has to be done by the Director of the Company.
- Acknowledgement of Application:- After payment, the acknowledgement will be sent to the registered email ID of the company. Also, the acknowledgement receipt has to be printed and signed.
- Submission of Documents:- The company has to courier the receipt and proof of documents to the authorities at their address in Pune, India with acknowledgement number and application form.
- Processing of the PAN application:- The authorities will process the PAN application after the company submits it. Also, if they finds that all the requirements are met, it will issue a PAN number India.
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E-PAN or Hard Copy of India PAN?
The foreign company can apply for either an e-copy of the PAN Card India or a physical copy of the PAN Card India. The only difference is in the charges because for printing and couriering the PAN Card, the authorities will charge extra. Further, the e-PAN India will be emailed in PDF format to the registered ID. While the Hard Copy of the PAN Card India will be sent to the communication address as filled by the foreign company.
Conclusion
In conclusion, applying for a PAN number India by a foreign company is a necessary step that ensures that it gets multiple tax benefits in India. Moreover, we can file an application for Indian PAN Card by online through the easier process. Though, it is crucial to prevent delays or issues by verifying that the application is accurate.
