Pan compulsory for partnership firm

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Querist : Anonymous

Querist : Anonymous (Querist)

16 April 2018 Hello
I have applied for a government plot to start a new partnership firm. I have played installments. Now i dont wont that plot and wanted refund of the installments paid. The government official is asking for the PAN of Partnership firm.

My question is that when there is no factory, no business, no registered address then whether a PAN of firm can be applied or not?

Kindly reply ASAP.

Nikhil Kaushik

Nikhil Kaushik (Expert)

16 April 2018 how come you don't have a registered address? didn't you mention that in the partnership deed?

Querist : Anonymous

Querist : Anonymous (Querist)

16 April 2018 The government plot mentioned above would be the registered address for firm but before i could set up my factory i have to cancel that plot. My question is not about registered address. That i know that it is compulsory to mention address in Form 49A and also partnership deed.
My question is that suppose i have taken a plot in the name of my would be partnership firm, i have not set up any factory and not started business then at which point of time it would be compulsory for me to apply for PAN.

Nikhil Kaushik

Nikhil Kaushik (Expert)

16 April 2018 yes it would be compulsory under the section 139A of the Income-tax Act

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)

16 April 2018 You have mentioned you have apply plot to Start Partnership Firm, not mentioned whether you have executed Partnership Deed? If you Created partnership Deed than why you have not Apply for PAN? How you paid installments when firm bank account not opened (without PAN)

If you have paid in individual capacity payment is done in your Individual account you can give your Personal PAN,

PAN Is Mandartory for Firm to do any registrations or to open Bank account, In order to any transaction you should have Bank account, PAN Is Mandatory for all activities

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