General Circular No. 16/2014, Dated: 10.06.2014

Sub:  Applicability of PAN requirement for Foreign Nationals

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.

F. No: 01/12/2013 CL-V

Yours faithfully

Encl- Undertaking

(Sanjay Kumar Gupta)

Deputy Director



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.


Name of the Person



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Posted Under

Category : Company Law (3486)
Type : Circulars (7563) Notifications/Circulars (30679)

0 responses to “Resident Director of Foreign Companies to Submit PAN at the time of Incorporation”

  1. krishnakumar says:

    Dear Sir,
    Thanks for the useful update. Just wanted to understand if the title for this article should have reference to “foreign companies” as the circular clarifies resident director in general and not resident director of only foreign companies.


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