Pan for partnership
This query is : Resolved
11 March 2013
SIR
IN A PARTNERSHIP OF FOUR ALL PARTNERS RETIRED ON 31.3.2011 EXCEPT ONE. ON 1.4.2011 THE REMAINING ONE ADMITTED ONE PARTNER AND CONTINUED THE PARTNERSHIP UNDER ANOTHER DEED. MY QUESTION IS WHETHER THE PAN OF THE PREVIOUS FIRM WORKS FOR THIS NEW FIRM FOR FILING I.T.RETURNS OR SHOULD THE FIRM APPLY FOR A NEW PAN. PL CLARIFY.
IN A PARTNERSHIP OF FOUR ALL PARTNERS RETIRED ON 31.3.2011 EXCEPT ONE. ON 1.4.2011 THE REMAINING ONE ADMITTED ONE PARTNER AND CONTINUED THE PARTNERSHIP UNDER ANOTHER DEED. MY QUESTION IS WHETHER THE PAN OF THE PREVIOUS FIRM WORKS FOR THIS NEW FIRM FOR FILING I.T.RETURNS OR SHOULD THE FIRM APPLY FOR A NEW PAN. PL CLARIFY.
11 March 2013
The partnership is intact and hence new PAN card is not required. But if leaving partners takes the name/business of firm out than new firm comes in existance from 01.04.2011 therefore new PAN will be required. Hope its clarifies.
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