Penal provisions for not applying for pan no.

Dear Friends

Facts: Came across a case were a private limited company is incorporated in 2010. since incorporation the company has not done any kind of business. even the share capital in withdrawn, the company wants to strike off the name from ROC records hence have prepared a NIL statement of affairs.

Query: After incorporation the company has not applied for PAN No.nor done any business transactions, now are there any penal provisions that can be levied on the company for Non application of PAN. or have the company defulted by not applying for PAN No. can the company face any problems in the process of striking of its name from ROC records.

Replies (2)
I don't think there will be any problem for striking the name from ROC. Still take expert advice since the matter is judgemental and contravening income tax law since company is mandatorily required to file I. T. Return as per 139 (1). Also to check liability for applting for pan arises or not.

I Agree with Mr. Raj

 

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