PAN CARD For Regd.Prop.ship Firm, Income Tax

[Ramesh Parmar]

Sir,

I want to know that is it compulsory PAN CARD No. for a Registered Proprietorship Firm.

Posts / Replies

[CHITRA RAGURAM]

For a proprietory concern, there is no need to apply for a PAN in the name of the firm. It is enough, if the proprietor have a PAN in his individual name.

[rishi mohan]

In case of a proprietorship firm, the permanent account number is not separate from its owner. The same pan of the proprietor shall be used. Therefore, there is no need for a separate permanent account number in case of a proprietorship firm. 

[B L Bhojwani]

Section 139A of the Income Tax Act, 1961 specifies the situations in which it is mandatory to obtain PAN.

In case a proprietary concern intends to obtain PAN, then it has to be obtained in the name of the proprietor and it cannot be obtained in the name of the proprietary concern.