PAN card application issue - UK company
The online 49AA form has a minor issue which delays PAN card applications for foreign companies.
The 49AA form shows a list Proof of Address support documents mainly (1) Registration certification, or (2) Copy of approval to setup a business in India
The issue is:
(1) Company registration certificate in the UK does NOT have registered address in general
(2) A foreign company does NOT have to establish a subsidiary in India, at least during PAN application (ie, they do not always have copy of approval letter if any)
In stead of Company registration certification, company's Bank statement has the proof of address. This seems to acceptable for postal applications.
I requested NSDL to add the following but they are not responding:
49aa online application as a COMPANY:
** Bank statement of the company duly attested by Indian embassy/consulate/high commission/Apostile in the country where application is located /Authorised officials of overseas branches of banks registered in India **
Can someone please advise? more
The 49AA form shows a list Proof of Address support documents mainly (1) Registration certification, or (2) Copy of approval to setup a business in India
The issue is:
(1) Company registration certificate in the UK does NOT have registered address in general
(2) A foreign company does NOT have to establish a subsidiary in India, at least during PAN application (ie, they do not always have copy of approval letter if any)
In stead of Company registration certification, company's Bank statement has the proof of address. This seems to acceptable for postal applications.
I requested NSDL to add the following but they are not responding:
49aa online application as a COMPANY:
** Bank statement of the company duly attested by Indian embassy/consulate/high commission/Apostile in the country where application is located /Authorised officials of overseas branches of banks registered in India **
Can someone please advise? more
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View all 8 comments Below 8 comments
@Vijaya - please note that the following documents would suffice for foreign co PAN application a. Copy of certificate of Registration or incorporation, either apostille or attested by Indian Consulate b. Copy of Bank Statement of company either apostille or attested by Indian consulat while giving co registration certificate - please also give a print out of co profile from UK Co registration office which contains the address and related entities and get the full set attested by consulate.Hope that will solve your problem. more
Oct 15
@Mr Raoot - suggest the nature of the activity to be undertaken by the company and also the form of the entity( co/partnership,etc) so that we can suggest the required procedures. more
Oct 15
Hi Vijaya, For the sake of reference, following links provide the requisite information regarding PAN card application for foreign entities other than individuals. https://www.tin-nsdl.com/download/pan/Additionalguidelines_01062016.pdf https://tin.tin.nsdl.com/pan/rule114.html https://www.tin-nsdl.com/download/Annexure%20D_03022014.pdf I am pretty sure you must have gone through them. For now, easy way would be to 1) get approval letter for setting up business (if you think you would do that couple of months down the lane then why not get it done sooner itself) or 2) Look at point #3 of Proof Of Address under point#6 in the 'guidelines' pdf or 3) Approach 'Indian Authorities' in UK for suggesting an alternate means of providing Proof of Address. When you say you have requested NSDL to add altogether a new criteria (i.e. duly attested copy of bank statement) under this category, you do understand that it is neither logical nor feasible for NSDL to make such a big change for single entity (for the simple reason that this provision might get misused by others in many ways). If NSDL gets substantial number of similar requests from the same region, they might consider adding country specific criteria(UK - in this case) at best. Either ways it will take considerable amount of time. Moreover you(i.e. company) applying for a PAN means, I am assuming, you want to enter into some financial transactions in India which may lead to taxation. Few months back the IT Simplification Committee has suggested amendment of section 206AA of the I-T Act from June 1, 2016 to provide that instead of PAN, the tax identification number or any other unique identification proving residency of its home country could be submitted by the foreign payee. So in future things might get sorted. more
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