PAN of shareholder in Government Company
Query: In case of a Government Company, the shares are held by the Government of India in the name of the Hon’ble President of India. As per the Business Rules, either CIN of shareholder or PAN of shareholder is Mandatory in case Country of incorporation or residence of shareholder is India. Please guide us, what should be put in PAN in such cases?
Answer: In case where shares are held by President or State Government or elsewhere PAN of shareholder is not available, in those cases a dummy PAN ‘AAAAA9999A’ may be used.
But kindly note that use of this default ‘AAAAA9999A’ should be supported by providing an adequate footnote.