To improve the ease of doing business for newly incorporated companies, Central Board of Direct Taxes has tied up with Ministry of Corporate Affairs to issue Permanent Account Number and Tax Deduction Account Number in one day. <br/><br/>According to an official release, applicant companies submit a common application form on MCA portal and once the data of incorporation is sent to CBDT by MCA, the PAN and TAN are issued immediately without any further intervention of the applicant. <br/><br/>Till 31st March 2017, 19,704 newly incorporated companies were allotted PAN in this manner. During March, 2017, of the 10,894 newly incorporated companies, PAN was allotted within 4 hours in 95.63 percent cases and within 1 day in all cases.<br/><br/>Similarly, TAN was allotted to all such companies within 4 hours in 94.7 percent cases and within 1 day in 99.73 percent cases. <br/><br/>Our Correspondent reports that the CBDT's initiative in starting of a business is expected to significantly improve the ranking of India in the ease of doing business study conducted by World Bank by reducing the number of processes of registration before various authorities under law, reducing the time taken for allotment of the registration number and making the entire registration process for new companies much simpler.<br/><br/>CBDT has also introduced E-PAN which is sent by email, in addition to issue of the physical PAN card, to all applicants including individuals where PAN is allotted.