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MCA Circular on Applicability of PAN requirement for Foreign Nationals

Saturday, June 14, 2014 Posted by Unknown , , No comments
General Circular 16/2014, F.No: 01/12/2013 CL-V, dated 10th June, 2014

In continuation of the General Circular No. 12/2014 dated 22.05.2014 regards the above subject, it is clarified that the provisions of the said Circular are applicable to a Foreign National who is a subscriber/promoter at the time of incorporation of the Company.

2. In case the said subscriber/promoter, does not possess Permanent Account Number (PAN), he/she shall furnish a declaration in the prescribed proforma, as an attachment to the Incorporation Form (INC-7).

3. Further, it is clarified that, in case of a Resident Director of the proposed company he/ she shall be required to submit PAN details at the time of incorporation.

4. This issue with the approval of the Competent Authority.
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