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.

AI Summary

Section 25 Company Queries PAN Status as Trust; Seeks Guidance on Correcting Filing Errors and Obtaining New PAN. A Section 25 company, registered for an 80G certificate with the Income Tax department, has a PAN indicating its status as a Trust ('T') instead of a Company ('C'). The company has been filing returns manually under the trust section. The query seeks advice on whether a new PAN should be obtained, as there is no provision for correcting the status in the current PAN, and concerns about previously filed returns with the incorrect status. The response suggests that Section 25 companies are typically marked 'T' in the PAN database and advises consulting with the jurisdictional Assessing Officer for clarification.