5 August 2022

PAN application integration with LLP incorporation form FiLLiP

The Central Board of Direct Taxes (functioning under the Ministry of Finance) through its notification dated 26 July 2022 has issued the procedure for Permanent Account Number (PAN) application and allotment through LLP form FiLLiP of the Ministry of Corporate Affairs (MCA).

Application for PAN for LLPs
With reference of sub-rule (1) to Rule 114 of Income Tax Rule, 1962, a Limited Liability Partnership (LLP) may apply for allotment of PAN through a Common Application Form (CAF) along with the incorporation form FiLLip.

Our Comments

For incorporation of LLPs, the MCA has notified a web-based form called FiLLiP through which the application for PAN can now be made by submitting a CAF along with the web-based incorporation form FiLLiP.

This is in line with the integration of company incorporation forms with various statutory registrations. The application for allotment of PAN will be filed in form FiLLiP using a Digital Signature Certificate (DSC) of the applicant. Once the LLP is incorporated and the LLPIN is generated, the MCA shall forward the application for PAN in Form 49A to the Income Tax Authority along with the digital signatures. The PAN and LLPIN will be issued along with the certificate of incorporation to the LLP.

The circular link is given for your ready reference.

Nexdigm
ThinkNext@nexdigm.com | www.nexdigm.com

DISCLAIMER
This alert contains general information which is provided on an "as is" basis without warranties of any kind, express or implied and is not intended to address any particular situation. The information contained herein may not be comprehensive and should not be construed as specific advice or opinion. This alert should not be substituted for any professional advice or service, and it should not be acted or relied upon or used as a basis for any decision or action that may affect you or your business. It is also expressly clarified that this alert is not intended to be a form of solicitation or invitation or advertisement to create any adviser-client relationship.

Whilst every effort has been made to ensure the accuracy of the information contained in this alert, the same cannot be guaranteed. We accept no liability or responsibility to any person for any loss or damage incurred by relying on the information contained in this alert.

© 2022 Nexdigm. All rights reserved.