ALSO READCBDT eases requirement for obtaining PAN card for corporate assesses Income Tax Office receives 15-25 lakh PAN applications a week Transgenders to be recognised as independent gender category in PAN form 'Benefit of standard deduction negligible for salaried class' Standard deduction benefit to be a few hundred rupees only
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).
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.
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