Radhika (Consultant) (320 Points)
06 April 2011Thanks & Regards,
Radhika
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 06 April 2011
if Y is executor by court then the pan of late X would be used untill the property gets transferred.
if Y is the receipent of property or financial aspects then all transactions will be shifted to Y pan card
in all cases the TDS can be set off but not to get refunded,
MD
(AAA)
(117 Points)
Replied 06 April 2011
Mr. Y will be termed as an executor who will administer the estate of deceased.
Being an executor Mr. Y will be treated as a legal representative – Estate of Late Rangalal Jajodia v. CIT (1971) 79 ITR 505 (SC).
Mr. Y can use Mr. X PAN.
Radhika
(Consultant)
(320 Points)
Replied 06 April 2011
Hi,
Thank you very much for the response. However, Mr. X do not possess a PAN card and there are other beneficiaries to Mr. X's estate. In such a case, how can we proceed further? whose PAN card can be used?
MD
(AAA)
(117 Points)
Replied 07 April 2011
Mr. Y will have to apply for PAN in the name of ‘Estate of Deceased Mr. X’ in the status of Artificial Juridical Person having Mr. Y as Representative assessee.
Separate assessment shall be made on the total income of each completed previous year or part thereof as is included in the period from the date of death to the date of complete distribution to the beneficiaries of the estate according to their several interests.
Radhika
(Consultant)
(320 Points)
Replied 07 April 2011
@ MD: Thank you very much sir for the support and clarification given.
RINKIE
(artcicle)
(21 Points)
Replied 28 April 2011
sir a company which is registered with roc of kolkata ahving it office in jabalpur madhya pradesh also,can apply for pan card with teh address of jabalpur office???what docuement it should submit for address proof/?
MD
(AAA)
(117 Points)
Replied 28 April 2011
One company can only have one PAN where the company has registered office.
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