1. Ease of doing business: No need to file separate PAN, TAN application under company incorporation process

Ease of doing business: No need to file separate PAN, TAN application under company incorporation process

The Ministry of Corporate Affairs has dispensed with the requirement of separately uploading Form 49 A and Form 49B after filing SPICe e-forms.

By: | Published: November 7, 2017 5:28 PM
Ministry of Corporate Affairs, MCA, Form 49A, Form 49B, SPICe e-forms, PAN TAN service, SPICe submission With effect from 4th November 2017, stakeholders are not required to upload signed 49A/49B using ‘Submit application for PAN/TAN’ service.

As part of its continuous efforts for simplifying incorporation-related process for providing ‘ease of doing business’ to stakeholders, the Ministry of Corporate Affairs (MCA) has dispensed with the requirement of separately uploading Form 49 A and Form 49B after filing SPICe e-forms. Accordingly, with effect from 4th November 2017, stakeholders are not required to upload signed 49A/49B using ‘Submit application for PAN/TAN’ service, in respect of any fresh SPICe submission or resubmission cases. PAN and TAN will continue to be issued as before based on the details submitted in the SPICe form itself.

It may be noted that in order to improve the Ease of Doing Business for newly-incorporated corporates, CBDT had some time back tied up with the Ministry of Corporate Affairs (MCA) to issue PAN and TAN in 1 day. Applicant companies had to submit a common application form SPICe (INC 32) on MCA portal and once the data of incorporation was sent to CBDT by MCA, PAN and TAN were 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.

Till 31st March 2017, 19,704 newly-incorporated companies were allotted PAN in this manner. During March 2017, of the 10,894 newly-incorporated companies, PAN was allotted within 4 hrs in 95.63% cases and within 1 day in all cases. Similarly, TAN was allotted to all such companies within 4 hrs in 94.7 % cases and within 1 day in 99.73% cases.

CBDT’s initiative in starting of a business was expected to significantly improve the ranking of India in the Ease of Doing Business Study conducted by World Bank by reducing the number of processes of registration before various authorities under law, reducing the time taken for allotment of the registration number (CIN, PAN, TAN) and making the entire registration process for new companies much simpler. CBDT had also introduced the Electronic PAN Card (E-PAN) which is sent by email, in addition to issue of the physical PAN Card, to all applicants including individuals where PAN is allotted.

  1. Rabi Narayan Pal
    Nov 7, 2017 at 6:16 pm
    JDGT must not ask self attested PAN Card to apply IEC. Due to this new Companies are facing delay in getting the IEC Number. When certificate of incorporation comes with PAN number direction must be issued to JDFT not to insist the same.
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