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Pan/ tan/ form 16/ it 2011-2012

UNKNOWN (PROPRIETOR) (78 Points)

18 April 2012

As a proprietorship company i want to give FORM 16 to my employee, so am going to apply TAN number for that, in TAN application in one column they are asking for PAN number, so should i put my PAN number or COMPANY PAN number. Because i do not have PAN on COMPANY name, If really i have to put my COMPANY PAN means first i apply for COMPANY PAN then apply TAN. So once TAN received i file returns on my company name and give FORM 16 with the help of audhitor. For year 2011-2012 when should i file tax? FORM 16 can i give to employee after APRIL 30 because i heard last date to give FORM 16 is every year april 30. Kindly guide me correct path to go.

THANKS

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4 Replies

Giridhar S Karandikar (Team Lead) (7543 Points)
Replied 19 April 2012

Is your business in the form of an proprietary concern, or is it an company registered under the companies Act?

It is quite confusing from your question, as you are saying that it is an proprietary company. If it is an proprietary concern, then your PAN will be requried to be given for TAN application, as youa re the only proprietor of the business. But if it is an company registered under the companies Act, then definitely the PAN of the Co will be requried to be given, because an company is considered as an seperate elgal entity.

If the turnover of your organization is more than 60lacs rupess, then you will ahve to file your I-T return on or before 30th September, if not then on or before 31st July.

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UNKNOWN (PROPRIETOR) (78 Points)
Replied 19 April 2012

Thanks for your reply.

Actually mine is proprietorship cocern. I need to give form 16 to my manager whose salary is 25000 rupees getting credited in bank, he needs to apply for home loan. So to give form 16 i need TAN right? then i have to file tax on my name or office name to give FROM 16? That is only confussion so help me to understand how can i give FORM 16.

Thanks

Jayakanth

Giridhar S Karandikar (Team Lead) (7543 Points)
Replied 19 April 2012

In case of an proprietary concern, there is no difference between the proprietor & his business. So the PAN of the proprietor is the PAN that should be considered.

However the name given to your business for e.g ABC & Co, can be put on Form16, however the PAN would be given of yours only.