5.4. Licensing and Permits

Once incorporated, a company must secure several critical licenses before commencing operations: an annual Trade License from the local city corporation or municipality (renewed by June 30), a 12-digit corporate e-TIN from the NBR, and a 13-digit Business Identification Number (e-BIN). Crucially, a new Section 256(3) of the Income Tax Act 2023 mandates that any registered partnership firm seeking formal dissolution must first obtain a Tax Clearance Certificate from the DCT; RJSC is legally barred from dissolving the entity until this is presented.