Pan Card on trade name

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Querist : Anonymous

Querist : Anonymous (Querist)

14 March 2011 Is it possible for sole proprietorship business to have PAN card on the trade name. I have recently come across a live case where a sole proprietor having pan card on trade name and also a personal PAN card. PAN number in both the cases where different.
Even IN SEBI know your distributor process pan card on trade name if available is asked.
Link for the same is as follows:- https://www.fidelity.co.in/assets/downloads/know_your_distributor-process_flow.pdf

Please answer my question ASAP.

CA KRISHNA KUMAR DARUKA

CA KRISHNA KUMAR DARUKA (Expert)

14 March 2011 PAN card in the trade name of proprietorship business is not allowed. Pl check the fourth letter of PAN no whether the same is "P" or something else.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)

14 March 2011 PAN card of proprietorship business should only be in the name of Individual.
There has been cases of mistakes but it does not mean it is eligible. In case of one proprietorship business i have seen two PAN cards one in the name of the individual, and other in the name of his proprietorship firm in which the 4th letter was C "Company". But it was just a mistake and the returns are filed with the PAN of the individual and the other PAN card is surrendered.

Murtaza I Bhagat

Murtaza I Bhagat (Expert)

14 March 2011 agreed, bcz proprietor is the only person whos business trade name or his/her name does not make any differences in IT Return. so PAN Should be one but in case of partner,company,other its not one person owning so that they have to take different PAN of Firm and file seperate returns of firm and personal.. in proprietor trade business return and his/her personal IT return is same. all the details goes on proprietor PAN.

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