The Ministry of Corporate Affairs (MCA) has laid down the procedure of PAN application & allotment through simplified proforma for incorporating Limited Liability Partnerships (LLPs) electronically from the official portal of the ministry.
As per sub-rule (1) to rule 114 of Income Tax Rules, 1962, “an applicant may apply for allotment of 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)”.
A notification issued by the Ministry a few days ago stated that a Common Application Form (CAF) in the form of Simplified Proforma for incorporating Limited Liability Partnership (LLP) (Form – FiLLiP) has been notified by the Ministry of Corporate Affairs vide notification G. S. R. 173(E), dated 4/03/2022.
“In exercise of the powers delegated by the Central Board of Direct Taxes vide notification G.S.R. No. 117(E) dated 9/02/2017, the Director General of Income-tax (Systems) lays down the classes of persons, forms, format, and procedure for Permanent Account Number including the particulars Classes of persons to which FiLLiP form will apply Newly incorporated Limited Liability Partnership (LLP),” the notification said.
Procedure Application for allotment of Permanent Account Number (PAN) will be filed in FiLLip form using the Digital Signature of the applicant as specified by the Ministry of Corporate Affairs. After the generation of the LLP Identification Number (LLPIN), MCA will forward the data in Form 49A to the income tax authority under the Digital Signature, Class 2/3 of MCA.
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