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1. Company PAN Card (For Private Ltd, Public Ltd, etc.)
Purpose: Mandatory for filing Corporate Income Tax returns and opening a Corporate Current Account.
Benefit: Establishes a Separate Legal Entity. It allows the company to enter into contracts, sue, or be sued in its own name. It is also essential for applying for Import Export Codes (IEC) and Government Tenders.
2. Partnership Firm & LLP PAN Card
Purpose: Required to track the business’s financial transactions and distribute profits among partners after tax.
Benefit: Enables the firm to apply for Business Loans and credit lines. Without this, the firm cannot register for GST or enter into official lease agreements for office space.
3. HUF (Hindu Undivided Family) PAN Card
Purpose: Used to manage ancestral property and joint family income under a single tax umbrella managed by the 'Karta'.
Benefit: Tax Planning Tool. An HUF is treated as a separate tax unit. By having a separate PAN, the family can claim an additional basic tax exemption limit (currently ₹2.5 Lakhs to ₹3 Lakhs), effectively doubling the family's tax-saving potential.
4. Trust & Society PAN Card
Purpose: Mandatory for NGOs, Charitable Trusts, and Co-operative Societies to manage donations and institutional funds.
Benefit: Essential for obtaining Tax Exemptions under sections like 12A or 80G. Without a PAN, all donations received by the trust could be taxed at the highest bracket.
5. AOP (Association of Persons) & BOI (Body of Individuals)
Purpose: Used by groups like Clubs, Housing Societies, or temporary Joint Ventures to manage collective funds.
Benefit: Provides a formal structure to manage the group's finances and helps in opening a combined bank account, ensuring transparency among members.
Universal Benefits for Non-Individual Entities
GST Compliance: It is impossible to get a GST registration without a PAN card for the entity.
TDS/TCS Tracking: PAN is required to deduct tax at source (TDS) on payments to vendors; without it, tax is deducted at a much higher rate (usually 20%).
Asset Purchase: Required for the purchase or sale of immovable property (land/buildings) in the name of the entity.
Global Transactions: Necessary for foreign entities to conduct business or invest in India.