Corporate Updates – 15-02-2016


The Department of Industrial Policy and Promotion in discussion with the Ministry of Corporate Affairs to improve ease of doing business, will soon introduce Business Identification Number (BIN) forcompanies. The BIN would act as an identification number for different regulatory purposes and do away with the need for procuring separate registration numbers such as Company Identification Number and Labour Identification Number. . As per the proposal, the permanent account number (PAN) may become the BIN for companies. The DIPP is expected to come out with the BIN in the next 2-3 months. It will help in reducing the time of registration processes of the companies.


CBDT has received request from field formations and tax payers to provide functionality for issue of online certificate u/s 195(2) and 195(3) for lower / no deduction as manual certificates were not being considered during processing of TDS statements by CPC TDS. In this regard, existing functionality to issue online certificate u/s 197 in ITD application has been enhanced to issue online certificate u/s 195(2) and 195(3). All Assessing Officers of International taxation will also be assigned the role AR_I NT_TAXATION in ITD application by respective Computer Center through HRMS module. Further, for issue of certificate u/s 195(2) and 195(3), jurisdiction restriction of PAN has been relaxed and for issue of certificate u/s 195(3) , TAN and Amount has been made optional.

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