Apply for PAN TAN directly while filing Form INC 7

Now, apply for PAN / TAN for new Company in Form INC-7- No Separate Application Required. Thus reducing the time limit for starting the business and opening the bank account.

Ministry of Finance has come up with a notification 38/2015 dated 10th April, 2015 that now a new company can directly apply for PAN & TAN of the Company via filing the Incorporation form at MCA via eForm INC 7. However, amendment in eForm INC 7 is still pending by Ministry of corporate Affairs.

Earlier the timeline to start the Company operations was as below;

No.	Detailed procedures	Estimated timeline
1.	Receipt of original attested due diligence documents	X
2.	Applying for digital signature (DSC)	X+1
3.	Approval of DSC	X+2
4.	Apply for Director Identification Number (DIN)	X+2
5.	Approval of DIN	X+2
6.	Preliminary name check	X+2
7.	Filing for name approval	X+2
8.	Getting name approval letter from Registrar of Companies (ROC)	X+9
9.    \	Receipt of Incorporation documents	X+12
10.	-------------------------------------------------------------------------
11.	Filing of incorporation forms with the Registrar	X+12
12.	Certificate of Registration i.e. Company number is issued	X+19
13.	Applying for PAN	X+19
14.	Approaching Bank for opening of Bank account	X+20
15.	Documents sent to Client for opening of Bank Account for signing	X+21
16.	Applying for TAN	X+30
17.	Opening of Bank Account	X+30
18.	Foreign Shareholders inducing their amount of paid up capital into Company’s Bank Account	X+31
19.	Request for FIRC	X+31
20.	Documents sent to Client for signing FC GPR form	X+41
21.	RBI Compliances Filing FC GPR with AD	X+51
22.	Filing for Commencement of Business in INC 21 after funds are induced into the company’s bank account	X+51
23.	Company can start its operations after the approval of INC 21