section 25 company

[anil goenka]

a section 25 company is having registration with Income tax for 80G certificate. This company obtained PAN wherein the status mentioned was that of a Trust.  The 4th  letter in PAN which denotes the status is ‘T”instead of “C for a company. The returns till date are being filed manually with the trust section Should the company obtain a fresh PAN since there is no provision of PAN correction in case of Status?  Further, what about the previous return filed with the wrong status.

[CAGOPALJI AGRAWAL]

To my view, section 25 companies are marked T in PAn date base. Please also carify the safe from your jurisdictional AO.

AI Summary

PAN status misclassification for nonprofit company may reflect PAN database practice; confirm classification with tax assessing officer. A nonprofit company functioning as a section 25 entity discovered its PAN fourth-character status indicates trust rather than company, and has been filing returns under the trust category; administrative practice reportedly records such nonprofits as trusts in the PAN database, and the practical course is to confirm with the jurisdictional assessing officer whether PAN modification or corrective steps are required for prior filings.