Applicability of PAN requirement for Foreign Nationals - Companies Law - 16/2014

General Circular No. 16/2014 F. No: 01 / 12/ 2013 CL-V Ministry of Corporate Affairs Government of India `A' Wing, 5 th floor, Shastri Bhawan Dr. Rajendra Prasad Road, New Delhi-01 Dated: 10.06.2014 To All Regional Directors, All Registrars of Companies. All Stakeholders. Sub: Applicability of PAN requirement for Foreign Nationals Sir, In continuation of the General Circular No. 12/2014 dated 22.05.2014 regards the above subject, it is clarified that the provisions of the said Circular are applicable to a Foreign National who is a subscriber/ promoter at the time of incorporation of the Company. 2. In case the said subscriber/promoter, does not possess Permanent Account Number (PAN), he/she shall furnish a declaration in the prescribed proforma, as an attachment to the Incorporation Form (INC-7). 3. Further, it is clarified that, in case of a Resident Director of the proposed company he/she shall be required to submit PAN details at the time of incorporation. 4. This issue with the approval of the Competent Authority. Yours faithfully Encl- Undertaking (Sanjay Kumar Gupta) Deputy Director 23384657 PPS to Secretary PPS to Additional Secretary PPS to JS (B) /JS (M) /DII (UCN) / DII (BNH) /DII (RCM) PS to DIR (AB) Undertaking I_________ (name)_______son of __________(father's name)________ , citizen of___________(nationality) R/o(Address) _____________having passport No.__________ (passport Number)___________hereby declare as under: (i) That I am not required to obtain Income Tax Permanent Account Number (PAN) under the provisions of Income Tax Act, 1961 ; (ii) That in view of the above I have not been issued any PAN; and (iii) That I undertake to furnish to the Registrar of Companies (mention jurisdiction) details of my PAN as soon as a Permanent Account Number is allotted to me. (Signature) Name of the Person Date: Place: