Tax Registration Process
Any business entity, including industry that has to pay income tax or Value Added Tax (VAT) should obtain the PAN. The industry has to be registered with the District office of the Inland Revenue Department or Inland Revenue Office (IRO) before its operation. In order to get PAN, there is no fee or deposit imposed.
PAN registration is essential for buying land, building and clearance of goods at custom office. Therefore, it is recommended that the companies are registered with IRO immediately after incorporation. For this, the company has to apply with an application form as shown in Income Tax Act and Rules along with the following documents:
- Copy of the certificate of incorporation
- Copy of the memorandum and articles of incorporation
- Copy of the citizenship certificate (or passport in case of foreign national) who signs the application
- Two passport size photo of the individual who signs the application
- Hand drawn sketch of the business location of the applicant
- Power of attorney, if applicable.