UMASHANKAR (MANAGER-ACCOUNTS & FINANCE) (62 Points)
23 October 2012Dear Friends
I want to open a proprietorship Firm and interested to get PAN Card issued in the name of proprietorship Firm. I have already my PAN card.
Please help and suggest me that whether I can get it issued new PAN Card in the name of Proprietorship Firm. As per current demands of Current Bank Account and other govt. registration.
Sonu Kumar
(Account Manager)
(665 Points)
Replied 23 October 2012
You can use your Own PAN Card for ProprieterShip Firm
Poonam
(CS,Mcom CA FINAL)
(512 Points)
Replied 23 October 2012
You can use your PAN because proprietary business is not a separate assessee under the Income Tax Act. As per the IT Act under the definition of Assessee only individual comes and not Proprietary concern.There is no personal PAN as such for the proprietary concern. The person must obtained PAN in his 'individual' status. You should file the return of income in the status of 'individual' only by using your PAN
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