![]() ![]() Otherwise, the government can charge you the highest possible tax rates If you are a foreign company, you need to have a PAN to operate in India.It is important that you have this so that no trouble comes your way By giving this number, the Income Tax Department can track your transactions. For any tax-related transactions and documentation, you need to quote your PAN. ![]() The following are the reasons why your company needs it: Additionally, even if you are not eligible to pay tax under income tax benefits given to startups, you still need a PAN card if you are earning money. It also helps in identifying the tax flow of your company. Your company’s PAN card is of huge significance as every transaction will go through this number. If you come under any of the following entities, then you should be having a PAN card to deal in any kind of business. Be it an Indian company or a foreign company, you need to get registered and have a PAN card.Īlso, if your company is generating money from outside India but was registered in India or has a permanent establishment or even a simple office in India, you need a PAN card. Which businesses require a PAN card?Īny individual or corporate involved in business in India requires a PAN card. In this article, we address a few things that you should know if you want to get a PAN for your company. Furthermore, it also acts as identity proof.įor you to get the unique 10-character PAN, you need certain documents and identifications. ![]() PAN is for all taxpayers living in the country, be it an individual, a partnership, or a company. A Permanent Account Number or PAN, as it is commonly known, is not just for individuals but for companies as well. ![]()
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