08 April 2013
X is a charitable trust. While applying for PAN card, by omission the category was quoted as ‘Artificial Jurisdical Person’ although it should have been Trust. So, the PAN No. allotted by IT Department was XXXJS0287X. The fourth alpahabet in the PAN no. was "J" but it should have been "T". Now, although the trust is registered under 12AA, but the benefit of exemption under Section 11 is disallowed because of wrong PAN.
So, please guide me the future course of action. Whether a NEW Pan number should be applied and surrender old Pan Number? But if we do these, what about the previous claims for exemption? Or there is any other more convenient way ?
29 May 2013
Apply for a new PAN for trust correctly and file an appeal before the concerned authority meanwhile you will receive new PAN Card and then send the original PAN for cancellation. Generally exemption is allowed for the activities and not for any other defect till I see the order of cancellation I cannot comment on this issue.
CAclubindia
