The linking will become mandatory from July 1, and it’s not mandatory to link before July 1. If you are not able to link it before July 1, your PAN will not become invalid automatically. After July 1, the linking will become mandatory and the government may declare a date after which the PAN not linked to Aadhaar will become invalid. The government has not declared that date yet.
An individual auditor cannot act as auditor for more than 5 consecutive years. After completion of his tenure company have to appoint one more auditor in his place. And first auditor eligible only after 5 years completion of his tenure as auditor in that company.
Section 139(2) of the Companies Act, 2013 (the Act) has mandated all listed companies and certain categories of unlisted public companies and private companies to mandatory rotate their auditors (whether such auditor is an individual or a firm) once their auditor has served office as an auditor for a period of 10 or more consecutive years (Rotation Period). In this regard, the third Proviso to Section 139(2) of the Act has provided a moratorium period, wherein companies incorporated prior to 1 April 2014, have been provided a time period of 3 years from such date to comply with the requirement to rotate their auditors. Therefore, beginning 1 April 2017, all companies who are required to rotate their auditors under the Act, will have to rotate their existing