Dear Sir,
For Two Proprietorship businesses,
1) Can there be a single PAN number ? (or)
2) Can a PAN number of Proprieter who is doing two different business with two different names be the same?
Pls resolve.
Regards
Narendra Reddy K
Narendra Reddy K (Executive) (28 Points)
20 May 2011Dear Sir,
For Two Proprietorship businesses,
1) Can there be a single PAN number ? (or)
2) Can a PAN number of Proprieter who is doing two different business with two different names be the same?
Pls resolve.
Regards
Narendra Reddy K
KIYOSH
(TAX CONSULTANT)
(332 Points)
Replied 20 May 2011
yes, person can have two proprietor business
CS,CA F,Numrologi TusharSampat
(CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert)
(85930 Points)
Replied 20 May 2011
In case of propritorship business no new pan is req if the owner has a valid pan no.
Same person even if does business wit 2 diff name is not allowed two diff pan no. as per income tax provision. ,as d person who owns both business has to club all d income under d head income frm business .for the purpose of filing his ITR.
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 21 May 2011
IN CASE OF PROPRIETOR BUSINESS NO NEED TO TAKE SEPARATE PAN NO.
NiTiN JAiN
(TAX CONSULTANT & CA FINAL STUDENT)
(155 Points)
Replied 21 May 2011
Yes a single PANo would be sufficient for two propreitorship business
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