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Friday, 27 April 2018

No need for separate PAN Card in case of certain companies


Finance Act, 2018, amended section 139A of the Income-tax Act, 1961, and removed the requirement of issuing PAN in the form of a laminated card

It has been clarified that PAN and TAN mentioned in the Certificate of Incorporation (COI) issued by MCA shall also be treated as sufficient proof of PAN and TAN for the said company assesses.

In case of a company, an application for incorporation, allotment of PAN and allotment of TAN may be made through a common application form submitted to the MCA. In these cases, the COI issued by MCA contains a mention of both PAN and TAN.

Link to Press Release Dated: 14th April 2018 => http://pib.nic.in/PressReleaseIframePage.aspx?PRID=1529095