PAN requirement for foreign companies investing in india

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avinav (Querist)
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27 September 2019 We are a subsidiary of a foreign company having headquarters in Singapore. They have recently in-fluxed more capital in our company. Now while filing the ITR, CA firm has advised me to obtain PAN number from foreign company who is investing in India. In 2011, it was not mandatory for foreign company to obtain PAN. If there is an amendment, kindly let me know.

Aashok Kumar Sharma online

Aashok Kumar Sharma online

(Expert)
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04 June 2020 The PAN for foreign companies is no longer necessary in all cases. The Permanent Account Number PAN introduced in India in 2010 is no longer mandatory in all cases for foreign companies since June 1, 2016. Even without the PAN, withholding tax deductions according to the double taxation agreement are guaranteed.

https://www.pwc.in/assets/pdfs/india-services/not-having-a-pan-may-mean-paying-more-tax.pdf

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