Ease of Doing biz : Now get PAN TAN for firms issued in a day

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The ease of doing business for newly incorporated corporates , the tax department tied up with Ministry Of Corporate Affairs (MCA) to issue PAN and Tax Deduction Account Number (TAN) in a day.Generally companies submit a common application form on the MCA portal and once the data of incorporation is sent to the Central Board Of Direct Taxes (CBDT) bY the Ministry Of Cooporate Affairs  PAN & TAN numbers would be issued immediately without any further intervention of the applicant.

The certificate of incorporation off newly incorporated companies includes the PAN in addition to the Corporate Identity Number (CIN).TAN is also allotted simultaneously & information is conveyed to the company, the tax department’s initiative in starting of a business is expected to significantly improve the ranking of India in the ease of doing business survey conducted by the World Bank by reducing the number of processes of registration, before various authorities , reducing the time taken for allotment of the registration no. and making the entire registration process for new companies much simpler.

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