CBDT notifies procedures for allotment of PAN to an LLP

Notification No. 04/2022, dated 26-07-2022

The Permanent Account Number (PAN) is a ten-digit alphanumeric number, issued for the purpose of identification of a taxpayer. PAN has to be mentioned in all communications with the Income-tax Dept. and in specified financial transactions which exceed the threshold limit.

A resident person can apply for PAN in Form No. 49A and a foreign citizen can apply in Form No. 49AA. As per proviso to Rule 114(1) an applicant may apply for allotment of a permanent account number through a common application form notified by the Central Government in the Official Gazette, and the Principal Director General of Income Tax (Systems) or Director General of Income-tax (Systems) shall specify the classes of persons, forms and format along with the procedure for the safe and secure transmission of such forms and formats in relation to furnishing of Permanent Account Number (PAN).

In exercise of such power, the CBDT has notified that the application for allotment of PAN will be filed in Form FiLLip by a newly incorporated LLP with the MCA. After the generation of the LLP Identification Number, the MCA will forward the data in Form 49A to the Income-tax authority under its digital signature.

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