Municipality or panyachet pay tax or not
This query is : Open
oindrila srimani
(Querist)
04 March 2017
Please tell me panyachet can have pan card or not. If Panchayat has deposited more than 50000 in to bank so Panchayat needs pan card or not. I am also in doubt that the Panchayat can maintain their accounts or not. They can submit their accounts or not
CA R SEETHARAMAN
(Expert)
04 March 2017
Panchayat and Municipality are govt authorities they need not pay any income tax and file ITR. No need of PAN for them for cash deposits they are allowed to deposit any amount without PAN. They maintain the accounts as per govt requirements.
oindrila srimani
(Querist)
04 March 2017
thanks u Sir
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