PAN for Proprietary

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Tejus Golchha (Querist)
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29 May 2009 Hi....
As proprietary concern is not an assesse in income tax so PAN individual is used for filing return.
But if some Tax deductor has deduted tax at source in the name of Proprietary (for say Creative designers) then how credit will be available to proprietor of creative designers, as name of PAN holder mismatches in e-records of department?

CA.Tarun Maheshwari

CA.Tarun Maheshwari (Expert)
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29 May 2009 The credit shall be given on the basis of the PAN.

CA.Tarun Maheshwari

CA.Tarun Maheshwari (Expert)
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29 May 2009 For avoidence of any problem at the time of assessment, you can ask the tax deductor to issue the TDS certificate in the following Style 'M/s XYZ, Proprietor Mr.A'

CA PARVEEN GAMBHIR

CA PARVEEN GAMBHIR (Expert)
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30 May 2009 The views expressed by Mr. Tarun are correct. Mismatch between proprietor name & proprietroship firm's name is causing lot of problems to the tax payers and Dept. The Board should formulate clear policy.

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