Archive for the ‘PAN’ Category


General Circular No. 4/2012, No 2/1/2011-CL.V, Dated the 9th March, 2012

To

All Regional Directors

All Registrar of Companies.

In continuation of General Circular Nos. 32/2011 dated 31.05.2011, 66/2011 dated 04.10.2011 and 70/2011 dated 15/12/2011 on the subject cited above, I am directed to say that the time for filing form DIN-4 by DIN holders for furnishing PAN and to update PAN details has been extended upto 30.04.2012.

Click here to download the above Circular- General Circular No. 4/2012 dated 09.03.2012.

Source: Ministry of Corporate Affairs


1. Is this form applicable for opening account in any bank/branch anywhere in India?

Presently, only following banks are covered opening of corporate bank account through MCA:

  • ICICI Bank
  • HDFC Bank
  • Andhra Bank
  • Kotak Mahindra Bank

2. Whether only director can be assigned as an authorized person on behalf of the Company?

No, it is not mandatory to assign the director to act as a authorized person. Any other person associated with the company can also be assigned as a authorized person. In case the authorized person is a director, then his/ her DIN shall also need to be provided along with the income tax PAN.

3. What information to be given under ‘Sources of Fund’, if company is newly incorporated?

User shall provide the information related to the main source of future income i.e. either through trading business, manufacturing unit, provisioning/ rendering of services, etc under ‘Sources of Fund’.

4. Under ‘Expected Balance’ whether Minimum Balance or Maximum Balance is to be given?

User shall provide the minimum balance which he/ she is expecting to maintain in the bank account to be opened.

5. How to update the details in case of any changes made relating to Authorised Person/Address/Bank Branch etc?

There is no facility to make any changes/ updations through this form. User is required to contact the concerned bank branch for such corrections/updations.

6. Who will be the approval authority of the form?

Concerned bank in which the bank account is to be opened shall be the approval authority of the form.

7. Is it a mandatory to file this form for every company being incorporated in MCA21 system?

No, It is not mandatory for every company to file this form. This is an additional facility provided to the corporate for opening of their bank account through MCA portal without the need of submitting physical papers with the bank and thereby reducing the overall service delivery time.

8. Is it possible to open the account in the earlier process (submission of physical documents) after implementation of the new process?

Yes, User has the option either to open the bank account through the earlier process (submission of form physically in the bank) or through the new process (online submission of form on the MCA portal).

9. Can a company change the bank and/or branch through the MCA21 system?

There is no facility to make any changes/ updations in bank / branch details through the MCA21 system. User has to contact the concerned bank/ branch for any changes/ updations in the details.

10. Can an existing account holder change the bank and branch details by filing such form?

No, this form is for opening of a new corporate bank account only. For correction/modification in details of already opened bank account, the user shall be required to contact the concerned bank/ branch.

Source: Ministry of Corporate Affairs.


General Circular No. 70/2011, No 2/1/2011-CL.V, Dated 15th December, 2011

In continuation of General Circulars No. 32/2011 dated 31.05.2011 and No. 66/2011 dated 04.10.2011 on the subject cited above, I am directed to say that the time for filing form DIN-4 by DIN holders for furnishing PAN and to update PAN details has been extended upto 29.02.2012.

Click to download the above Circular- General Circular No: 70/2011 dated 15.12.2011

Source: Ministry of Corporate Affairs


General Circular No. 66/2011, No 212011-CL.V, dated 4th Oct, 2011.

In continuation of General Circular No. 32/2011 dated 31.05.2011 on the subject cited matter, I am directed to say that the time for filing DIN-4 by DIN holders for furnishing the PAN and to update PAN details has been extended till 15.12.2011.

Copy to:

1. ICAI/ICWAI/ICSI/All Chamber of Commerce with a request to give wide publicity to their members.
2. DIN Cell to issue message through e-mail and SMS to all existing DIN holders who have not furnished their PAN earlier at the time of obtaining DIN to furnish their PAN by filing DIN-4 e-form by 15.12.2011 to avoid penal action.

Copy for information to:

1. PS to CAM and PS to MOS
2. PPS to Secretary, Additional Secretary, Joint Secretaries

Click to download the above Circular- General Circular No: 66/2011, dated 04.10.2011.

Source: Ministry of Corporate Affairs.


Allotment of Director Director Identification Number under Companies Act, 1956.

General Circular No. 32/2011, F.No. 2/1/2011 CL.V dated 31.05.2011

The Ministry of Corporate Affairs vide its General Circular No. 11/2011 dated 07.04.2011  has already informed that the Ministry is considering to allot all DIN applications online and to examine the DIN-1 and DIN-4 e-form through the system, following fields in the DIN e-form will be mandatory:

(i) Name of Applicant

(ii) Father’s name of the Applicant

(iii) Date of Birth

(iv) Income Tax Permanent Account Number (PAN) in case of all Indian Nationals.

(v) Passport in case of all Foreign Nationals.

2. It has been decided that with effect from 12.06.2011, all DIN-1 & DIN-4 applications has to be digitally signed by the practicing Chartered Accountants, Company Secretaries or Cost Accountants who shall also verify the particulars of the applicant given in the applications.  All these applications will be approved online.

3. At present, the PAN of the applicant is not a mandatory field in DIN eform-1. In order to examine DIN e-forms through the system and to avoid duplicate DIN, it has been decided that all existing DIN holders who have not furnished their PAN earlier at the time of obtaining DIN, are required to furnish their PAN by filing DIN-4 e-form by 30th September, 2011 failing which their DIN will be disabled and they shall also be liable for heavy penalty.

Form No. DIN-1-  Application for allotment of Director Identification Number.

Form No. DIN-4- Intimation of change in particulars of Director to be given to the Central Government.

Click to download the above Circular- General Circular No. 32/2011 dated 31.05.2011

Source: Ministry of Corporate Affairs.