by admin | May 25, 2021 | Corporate, Corporate Governance
New Delhi : The government on Saturday said the Certificate of Incorporation (COI) issued by the Ministry of Corporate Affairs (MCA) is adequate proof of Permanent Account Number (PAN) or Tax Deduction and Collection Account Number (TAN) for a company.
“Finance Act, 2018, amended section 139A of the Income-tax Act, 1961, and removed the requirement of issuing PAN in the form of a laminated card,” an official statement said, adding, “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.”
It further said: “In case of a company, an application for incorporation, allotment of PAN and allotment of TAN may be made through a common application form submitted to the MCA.”
“In these cases, the COI issued by MCA contains a mention of both PAN and TAN,” the statement noted.
—IANS
by admin | May 25, 2021 | News, Politics
Chennai : India’s insurance regulator on Monday extended the time to link Aadhaar number to insurance policies till March 31, 2018.
In a circular issued on Monday to all the life, non-life (including standalone health insurers) the Insurance Regulatory and Development Authority of India (Irdai) said the date of submission of the Aadhaar Number and Permanent Account Number or Form 60 by clients to reporting entity is March 31, 2018.
The Irdai cited the central government’s gazette notification on December 13, relating to Prevention of Money-Laundering (Maintenance of Records) (Seventh Amendment) Rules, 2017.
On November 8, the Irdai had directed the insurers to link Aadhaar and Pan Card numbers with insurance policies.
“These rules have statutory force and, as such, life and general insurers (including standalone health insurers) have to implement them without awaiting further instructions,” the Irdai had said in a statement.
—IANS
