FINANZAMANAGEMENT 592282e3a958ff0a889431c4 False 104 1
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PAN UPDATE Requirement for obtaining PAN card u/s 139A of IT Act, 1961 eased for corporate assessees Posted On: 14 APR 2018 10:44AM by PIB Delhi In case of a company, an application for incorporation, allotment of Permanent Account Number (PAN) and allotment of Tax Deduction and Collection Account Number (TAN) may be made through a Common Application Form submitted to the Ministry of Corporate Affairs (MCA). In these cases, the Certificate of Incorporation (COI) issued by MCA contains a mention of both PAN and TAN. Finance Act, 2018 amended section 139A of the Income-tax Act, 1961 removed the requirement of issuing PAN in the form of a laminated card. Hence, it is clarified that PAN and TAN mentioned in the COI issued by MCA shall also be treated as sufficient proof of PAN and TAN for the said company assessees.
Ministry of Corporate Affairs initiatives taken towards ease of doing business in India on the occasion of 69th Republic Day: i.Registration fee Nil: up to Rs. 10 lakh capital. ii.Introduction of 'RUN': "Reserve Unique Name". It is a single page e-form into which one name of proposed company can be reserved without obtaining DIN and Digital Signature (DSC) iii.Reduction of time limit for reservation of name: Name can be reserved for only 20 days iv.No resubmission for reservation of Name: It can be either rejected or approved in one go. v.Simplified process for incorporation of the company: by removing the requirement of the affidavit with a declaration from the proposed directors and promoters. vi.The new process for obtaining DIN: combined SPICe form only at the time of an individual's appointment as Director. Call Us: Mr. Saurabh Tripathi 91+9953431467 Mr. Kapil Sharma 91+9990032660