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of <h1>Income Tax Board Abolishes ITCC Requirement for Commercial Contracts; PAN Quotation Now Mandatory for Compliance.</h1> The circular issued on February 10, 2004, by the Income Tax Board announces the abolition of the requirement for obtaining an Income-tax Clearance Certificate (ITCC) for individuals entering into commercial contracts. Effective from January 1, 2003, contractors are no longer required to furnish an ITCC when submitting tenders or obtaining commercial contracts. This exemption also applies to other activities such as registration renewals and import/export licenses. Instead, individuals must quote their Permanent Account Number (PAN) in relevant documents. The issuance of ITCCs by the Income-tax Department for these purposes is discontinued, and previous circulars on this matter are withdrawn.
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