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PAN

This query is : Resolved 

(Querist)
22 July 2009 1 - I am having PAN no in my individual capacity. Now I am about to open a proprietory concern. Shall I use the same PAN no or have to apply for a new one in the name of the concern?

2 - Secondly, I have noticed that in ITR 4, we have to give full details of the balance sheet. But what if I am not having balance sheet done not can I make it? I am doing a free lance consulting services, for which I can no way draft the balance sheet.

22 July 2009 1. You will have to use the same PAN. PAN is same for proprietor or his any proprietorship concern.

2. If you are not maintaining books of accounts as per section 44AA, then you need to fill up only four columns given below the Balance sheet format. Same with P&L Account. But first ensure that maintenance of books as per section 44AA is not applicable to you


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