Partnership firm pan card

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

26 February 2014 Hi,

We have dissolved the partnership firm and already filed ITR for past 2 years. Is it compulsory to surrender the PAN card. Reply me as soon as possible.

Nikhil Kaushik online

Nikhil Kaushik online

(Expert)
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26 February 2014 it is advisable to surrender PAN because section 139 provides that firms are required to file returns compulsorily. So if you dont surrender PAN and inform AO that the firm has been dissolved, AO may issue notice for not filing of returns.

Querist : Anonymous

Querist : Anonymous (Querist)

27 February 2014 Thank you sir for your valuable advice. Dissolution deed was signed on July 2013. Is their any time frame to surrender the pan.

Querist : Anonymous

Querist : Anonymous (Querist)

27 February 2014 Thank you sir for your valuable advice. Dissolution deed was signed on July 2013. Is their any time frame to surrender the pan.

Nikhil Kaushik online

Nikhil Kaushik online

(Expert)
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27 February 2014 well essentially it is to be intimated to AO within 15 days of discontinuation (refer section 176).

so kindly intimate the AO at the earliest.

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Querist : Anonymous

Querist : Anonymous (Querist)

20 April 2014 Sorry for the long time taken to reply.

I am not understanding what AO means. Can you please explain more on this to whom I need to contact.

Refer Section 176 means: from where I can get this.