General
Circular No.
12/2014, F. No.1/12/2013 CL-V, dated 22nd May, 2014
Applicability
of PAN requirement for
Foreign Nationals
Attention of Ministry has been drawn to difficulties being faced by
Foreign Nationals while filing Incorporation form (INC-7) due to mandatory requirement of submission of PAN details of intending
Directors at the time of filing the application for
incorporation.
2. It is hereby clarified
that PAN details are mandatory only for those foreign nationals who are
required to possess “PAN” in terms of provisions of the
Income Tax Act, 1961 on the date of application for
incorporation. Where the intending Director who is a Foreign National is not
required to compulsorily possess PAN, it will be sufficient for such a person
to furnish his/her passport number, alongwith undertaking stating that
provisions of mandatory applicability of PAN are not applicable to the person
concerned. The form of Declaration is required to be
made in the proforma enclosed.
3. This issues with the
approval of Competent Authority.
.
.
.
.
0 comments:
Post a Comment