PAN CARD For Regd.Prop.ship Firm

[Ramesh Parmar]

Sir,

I want to know that is it compulsory PAN CARD No. for a Registered Proprietorship Firm.

For a proprietory concern, there is no need to apply for a PAN in the name of the firm. It is enough, if the proprietor have a PAN in his individual name.

[rishi mohan]

In case of a proprietorship firm, the permanent account number is not separate from its owner. The same pan of the proprietor shall be used. Therefore, there is no need for a separate permanent account number in case of a proprietorship firm. 

[B L Bhojwani]

Section 139A of the Income Tax Act, 1961 specifies the situations in which it is mandatory to obtain PAN.

In case a proprietary concern intends to obtain PAN, then it has to be obtained in the name of the proprietor and it cannot be obtained in the name of the proprietary concern.

 

AI Summary

PAN requirement for proprietorships: proprietor's PAN suffices and the firm cannot obtain a separate PAN.
A proprietorship does not have a separate PAN; the proprietor's PAN must be used for the business, and any PAN application for the proprietorship must be made in the proprietor's name rather than in the business name, reflecting the statutory scheme that ties PAN obligations to the individual proprietor.