Wednesday, 12 April 2017

New Companies to get PAN and TAN within 1 day - Ease of Doing Business

In order to improve the Ease of Doing Business for newly incorporated corporates, CBDT has tied up with Ministry of Corporate Affairs (MCA) to issue Permanent Account Number (PAN) and Tax Deduction Account Number (TAN) in 1 day.

ease of doing Business

Applicant companies submit a common application form SPICe (INC 32) on MCA portal and once the data of incorporation is sent to CBDT by MCA, the PAN and TAN are issued immediately without any further intervention of the applicant. The Certificate of Incorporation (COI) of newly incorporated companies includes the PAN in addition to the Corporate Identity Number (CIN). TAN is also allotted simultaneously and communicated to the Company.

KYC of all Directors

ALL COMPANY DIRECTORS HAVE TO FILE DIR-3 KYC on or before 31st August,2018 WITH MCA. DIR-3 KYC As part of updating its registry, M...