pan card of properitory firm

[SAGAR SHELKE]

Dear Sir,

i am starting a  properitory firm.  While Filling a PAN CARD THROUGH ONLINE 49A,i get little confused while chosing category.

PL GUIDE For proprietary firm, which category should I select among following:-

Firm or (2)Company or (3) Body of individuals .

Also,

For this firm , which Tax registration is needed?

The firm will be engaged in manufacturing of biomass briquetting & will sell across state.

Rgds

SAGAR SHELKE

 

 

[Guest]

Dear Sagar,

you are not supposed to apply for pan card in the name of the propreitory concern in which you  are proreitor. you must useyour individual PAN for your propreitory business. you must use the same PAN for any number of propreitory business

regrds

[DEV KUMAR KOTHARI]

Proprietory concern is not an independent and legal person person - it is a unit of proprietor. Therefore,  seperate PAN is not required. Seperate TAN is also not required. A PAN and TAN obtained for an individual carrying busines or profession in name of proprietory concern can use the samePAN and TAN.

He should take care to obtain TDS certficates in name of Proprietor. For this purpose every person who is to deduct tax from payments/ credit in favour of proprietory concern should be informed and requested to issue TDS certificates in name of proprietor instead of in name of proprietory concern.

Better course is that each invoice and other related documents should show name of concern and fact that it is proprietory concern of  say P.

 

It is suggested to the CBDT that a record of proprietory concerns of PAN holder may be kept and each proprietory concern be tagged with the PAN // TAN of the Proprietor.

 

[Guest]

you may apply for pan card use of just this simple process know your pan or get benifit in above thing.

AI Summary

Proprietorship Firm Setup: Use Personal PAN for Biomass Briquettes Business; No Separate PAN or TAN Needed An individual starting a proprietorship firm inquired about the appropriate category to select when applying for a PAN card online and the necessary tax registrations for a firm involved in manufacturing biomass briquettes. Respondents clarified that a proprietorship is not a separate legal entity; thus, the individual should use their personal PAN for the business. Separate PAN or TAN is not needed for the firm. It is advised to ensure TDS certificates are issued in the proprietor's name, and invoices should reflect the firm's status as a proprietorship. Suggestions were made to maintain records of proprietorships linked to the proprietor's PAN.