A partnership firm in India is a business formed by two or more people sharing profits, governed by the Indian Partnership Act, 1932. For tax purposes, every partnership firm must obtain a PAN Card (Permanent Account Number) from the Income Tax Department.
For a partnership firm, a PAN Card is important to conduct financial transactions, file income tax returns, open a bank account, and meet GST requirements. The process of acquiring a PAN Card for a partnership firm involves submitting an application through Form 49A, which includes details of the firm and its partners.
Before you make an application for a PAN Card, the partnership firm must complete certain formalities to ensure a smooth PAN application.
Apply PAN Card for Partnership Firms Online by following the steps given below:
Step 1 - You can apply for your Partnership's PAN Card online on the Income Tax Department's website.
Step 2 - Select "New PAN for Indian Citizen". This is also known as Form 49A.
Step 3 - Read the instructions carefully before you fill out the application.
Step 4 - Select the category of applicant as "Firm".
Step 5 - Fill out the application form.
Step 6 - Select your mode of payment.
Step 7 - You can choose between cheque, demand draft, credit card, debit card and net banking.
Step 8 - After completing the payment, you will get an acknowledgement slip which you need to print out.
Step 9 - You need to attach a recent passport-sized photograph of the authorised partner to the acknowledgement slip and sign across the photo using a black pen.
Step 10 - Send the signed acknowledgement slip along with all required documents to the office of Protean eGov Technologies Limited within 15 days of submitting the online application.
By following the steps given below, you can apply a PAN Card for a partnership firm offline:
Step 1 - Apply for a PAN Card offline by visiting a TIN FC.
Step 2 - An application form will be given to you.
Step 3 - You must fill it in with a black ball point pen.
Step 4 - The managing partner will have to sign the form, or use the rubber stamp.
Step 5 - Submit the form and the fee required.
Note: Once the verification of submitted documents is completed, the PAN card will be delivered to the registered office address of the partnership firm within 15 to 20 days
The Process to fill the PAN Card application form for Partnership Firms are explained below:
Step 1 - From the option ‘Category’, select ‘Firm’
Step 2 - Enter your date of incorporation as mentioned in the partnership deed.
Step 3 - In the ‘Name section’, enter the full firm's name exactly as mentioned in the Certificate of Registration.
Step 4 - In the ‘Date of Birth’ section, fill in the date of the partnership deed.
Step 5 - Do not fill in the sections such as Gender, Parents’ Details, or Aadhaar Number.
Step 6 - In ‘Address’, fill in the address of the firm as per the partnership deed.
Step 7 - Fill in the Registration number of the firm as mentioned in the Certificate of Registration.
Step 8 - From the category ‘Source of Income’, select the option ‘Income from business/profession’.
Step 9 -Select the business code that is based on the business of the partnership firm.
Step 10 - Mention what documents you are submitting for proof of identity, proof of address, and date of birth. You can submit your Partnership deed. If your firm has been registered with the Registrar of Firms, you can submit a copy of the Certificate of Registration.
Step 11 - In the "Declaration" section, the authorised partner must write their name, place, and date.
Step 12 - The application form must be signed by authorised partner.
Note: If you are applying the application offline, then a passport-sized photo of the authorised partner must be affixed on the top-left corner of the form, and the partner should sign across the photo.
Code | Profession or Business |
01 | Medical Profession and Business |
02 | Engineering |
03 | Architecture |
04 | Chartered Accountancy |
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 |
While filling out Form 49A for a partnership firm, you need to follow some important points in order to avoid rejection:
According to the Partnership Act, a partnership firm involves two or more individuals joining together to carry out a business or profession, agreeing to share both profits and losses.
A partnership deed, executed by all partners, outlines the terms and conditions of the partnership, including profit-sharing ratios and other important aspects of the business relationship.
Yes, under the Income Tax Act of 1961, partnership firms are required to file tax returns annually, regardless of their profit or loss.
A PAN card is mandatory for partnership firms for income tax filing purposes, serving as proof of the firm's existence.
Before applying for a PAN Card, partners must notarize the partnership deed, appoint an authorised partner, mention the firm's formation details, and ensure all partners and witnesses sign the deed.
Documents such as the partnership deed, digital signature certificate of the authorised partner, proof of office address, identity and address proofs of partners, and the certificate of registration are necessary.
Partners can apply online through the NSDL website, fill out the form, make the payment, send the acknowledgement slip with required documents to the Income Tax Department, and await verification and dispatch of the PAN Card.
Partners can obtain Form 49A from a PAN Centre or online, fill it out, submit it to the TIN-FC office with the required documents and fees, and track the application status using the acknowledgement number.
The application form should include the firm's name as per the registration certificate, date of incorporation, office address, status of the applicant as a partnership firm, business code, and signature of the authorised partner, among other details.
Credit Card:
Credit Score:
Personal Loan:
Home Loan:
Fixed Deposit:
Copyright © 2025 BankBazaar.com.