Govt eases Requirement for obtaining PAN Card for Corporate Assessees
The Finance Ministry has eased Requirement for obtaining PAN card under Section 139A of the Income Tax Act, 1961 for corporate assesses. 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...
The Finance Ministry has eased Requirement for obtaining PAN card under Section 139A of the Income Tax Act, 1961 for corporate assesses.
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 Â 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.
