Relation between Pan Card and Udyog Aadhar

Introduction

Concept of Udyog Aadhar came in 2015 which replaced Old process of registration of Micro, Small and Medium Enterprise (MSME) under Ministry of MSME. Udyog Aadhar is mandatory for small and medium class of business. During filing of Udyog Aadhar memorandum you have to mention you PAN details, PAN details is require for identification. PAN is not mandatory for everyone during filing of Udyog Aadhar memorandum but it is mandatory for those whose turnover is more than Rs.20 lakh. Here Relation between PAN and Udyog Aadhar is mentioned below

PAN Card

PAN card is essential document for many government schemes and it is also essential for Udyog Aadhar. Permanent Account Number (PAN) is a 10 digit unique number, issued by the Income Tax Department of India. There is no minimum age requirement for obtaining this card. Once you obtain this it will be valid for lifetime. This card act as identification for everyone which includes individual, companies, HUF. This card is mandatory for taxpayers. PAN registration is mandatory for various Government Schemes. PAN card is also mandatory for those who want to open a bank account.

PAN Card Registration is very easy; you can file your application online. You have to visit official website of NSDL where you can file your application online. Online application requires some documents like Identity proof, address proof, incorporation of company(in case of company), partnership deed (in case of partnership) etc. you have to upload these documents. After successful submission of application, your PAN card will deliver to your address.

Udyog Aadhar

Udyog Aadhar is 12 digit unique numbers which is issue by Ministry of MSME. Prior Udyog Aadhar there was registration under MSME was difficult so government launched Udyog Aadhar in 2015. Udyog Aadhar is very important for Small and medium business because it is required by the government, it certify your business. Once you obtain this you will become eligible for many government schemes like you will get loan from bank on low interest rates, you can present your products in foreign trade expos, you will get tax deduction, and government will give you subsidy and other benefits from the government schemes. Without obtaining Udyog Aadhar you will not get any benefits from the government schemes which requires Udyog Aadhar.

Process of Udyog Aadhar Registration is simple, you can file your Udyog Aadhar Memorandum online for which you have to visit official website of Udyog Aadhar. There is no requirement of documents but you have mention your personal and profession details. After submission of online form you will get your Udyog Aadhar Number.

PAN is required for the Udyog Aadhar Registration

PAN is optional document for the Udyog Aadhar registration but it is mandatory for those whose turnover is more than Rs. 20 lakh. If your organization’s turnover is more than Rs.20 lakh, you have to specify your PAN while filing of Udyog Aadhar memorandum. This will includes companies, limited liability partnerships, cooperative societies, societies and trusts. PAN is important for Udyog Aadhar because if you are apply for loan with Udyog Aadhar then you have to mention your PAN number so it is an important document for Udyog Aadhar. If you want to take benefits from the government schemes then you should submit your PAN number to Udyog Aadhar because without PAN may be you will not get benefits and for the tax benefits under Udyog Aadhar you have to mention your PAN, without PAN you may not get tax deductions. So PAN is optional but it is important document required by government. And it is mandatory for those whose turnover is more than Rs.20 lakh.

Conclusion

As you can see that PAN card is essential document for Udyog Aadhar. PAN is mandatory for those whose turnover is more than Rs.20 Lakh. PAN is also mandatory is government schemes. If you want to take benefits from the government schemes then you should link your PAN with Udyog Aadhar.

This is Anurag Jain, CMO at MyOnlineCA ( India's leading Online Legal Service Provider Company deals in Company and Tax Registration across India.