PAN APPLICATION OF A COMPANY

This query is : Resolved

Caanchal Rastogi (Querist)
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06 December 2019 A company was incorporated in f y 2015-16. that time they did not apply for PAN of company. facility og online application for pan of a company has been withdrawn and offline application has been rejected by NSDL and the reason is that you have not applied for pan at that time now your pan can not be issued. what remedy available to the company to obtain new pan card.

Asha Kanta Sharma online

Asha Kanta Sharma

(Expert)
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04 June 2020 As per the Income-Tax department:
1. Every person needs it if his total income or the total income of any other person in respect of which he is assessable during the year exceeds the maximum amount which is not chargeable to tax.
2. A charitable trust is required to furnish returns under Section 139(4A).
3. Every person who is carrying on any business or profession whose total sale, turnover, or gross receipts are or is likely to exceed five lakh rupees in any year.
4. Every importer/exporter who is required to obtain Import Export code.
5. Every person who is entitled to receive any sum/income after deduction of tax at source.
6. Any person who is liable to pay excise duty or a producer or manufacturer of excisable goods or a registered person of a private warehouse in which excisable goods are stored and an authorized agent of such person.
7. Persons who issue invoices under Rule 57AE requiring registration under Central Excise Rules, 1944.
8. A person who is liable to pay the service tax and his agent.
9. Persons registered under the Central Sales Tax Act or the general sales tax law of the relevant state or union territory.
10. Every person who intends to enter into specified financial transactions in which quoting of PAN is mandatory.