Procedure for obtaining pan card for self help group
This query is : Resolved
09 October 2015
I want to know how pan card can be obtained for SHG. How SHG can get their registration based on which PAN can be obtained by them. Is maintaining of books of accounts mandatory and whether this has to be audited?
10 August 2024
Obtaining a PAN card for a Self-Help Group (SHG) involves several steps and compliance requirements. Here’s a detailed guide on how to obtain a PAN card for an SHG, including the registration process, book maintenance, and audit requirements:
### **1. Understanding the Self-Help Group (SHG)**
A Self-Help Group (SHG) is a collective of individuals formed to provide financial and social support to its members. SHGs are typically informal groups but can register under various forms such as societies, trusts, or cooperatives.
### **2. Registration of the SHG**
Before applying for a PAN card, the SHG must be registered under a suitable legal structure. This can be done in several ways:
1. **Registration as a Society:**
- **Apply to Registrar of Societies:** Register the SHG as a society under the Societies Registration Act, 1860 or the relevant state-specific act.
- **Documents Required:** Society registration certificate, list of members, bylaws, and a governing body.
2. **Registration as a Trust:**
- **Apply to the Charity Commissioner:** Register the SHG as a trust under the Indian Trusts Act, 1882.
- **Documents Required:** Trust deed, registration certificate, and list of trustees.
3. **Registration as a Cooperative Society:**
- **Apply to Registrar of Cooperative Societies:** Register the SHG as a cooperative society under the Cooperative Societies Act.
- **Documents Required:** Cooperative society registration certificate, list of members, and bylaws.
### **3. Obtaining a PAN Card for SHG**
Once the SHG is registered under the appropriate legal structure, follow these steps to obtain a PAN card:
1. **Gather Required Documents:**
- **Registration Certificate:** Proof of registration of the SHG (as a society, trust, or cooperative).
- **Identity Proof:** PAN card of the authorized signatories (e.g., President, Secretary).
- **Address Proof:** Address proof of the SHG’s registered office.
- **Bank Statement:** A recent bank statement in the name of the SHG.
2. **Complete the PAN Application Form:**
- **Form 49A:** For applying for PAN for entities, complete Form 49A. This form can be downloaded from the Income Tax Department’s website or obtained from PAN application centers.
- **Form Submission:** Submit the form online through the NSDL or UTIITSL website, or in person at a PAN application center.
3. **Submit the Application:**
- **Online Submission:** Submit the application form online, pay the required fee, and upload the necessary documents.
- **Physical Submission:** Alternatively, submit the completed form and documents at a PAN application center.
4. **Receive PAN Card:**
- **Acknowledgment:** After processing, you will receive an acknowledgment receipt.
- **PAN Card Dispatch:** The PAN card will be dispatched to the address provided.
### **4. Maintenance of Books of Accounts**
Maintaining books of accounts is generally mandatory for all SHGs, especially if they are registered entities:
1. **Book Maintenance:**
- **Account Records:** Maintain accurate records of all financial transactions, including income, expenses, and receipts.
- **Minutes of Meetings:** Keep minutes of meetings and resolutions passed by the SHG.
2. **Audit Requirements:**
- **Society/Trust/Cooperative Compliance:** Depending on the legal structure under which the SHG is registered, an audit may be required. For instance:
- **Societies:** May require annual auditing by a chartered accountant as per the rules of the Societies Registration Act.
- **Trusts:** Audit requirements may depend on state-specific regulations and income levels.
- **Cooperatives:** Typically require regular audits as per cooperative society regulations.
3. **State-Specific Regulations:**
- **Check Regulations:** Confirm specific regulations related to accounting and auditing with the relevant state authority or legal advisor.
### **5. Summary**
1. **Register the SHG** under the appropriate legal framework (society, trust, or cooperative).
2. **Apply for a PAN card** using Form 49A with necessary documents.
3. **Maintain accurate financial records** and comply with audit requirements as per the legal structure.
Ensure you follow the applicable regulations and seek professional advice if necessary to ensure compliance with legal and tax obligations.
### **1. Understanding the Self-Help Group (SHG)**
A Self-Help Group (SHG) is a collective of individuals formed to provide financial and social support to its members. SHGs are typically informal groups but can register under various forms such as societies, trusts, or cooperatives.
### **2. Registration of the SHG**
Before applying for a PAN card, the SHG must be registered under a suitable legal structure. This can be done in several ways:
1. **Registration as a Society:**
- **Apply to Registrar of Societies:** Register the SHG as a society under the Societies Registration Act, 1860 or the relevant state-specific act.
- **Documents Required:** Society registration certificate, list of members, bylaws, and a governing body.
2. **Registration as a Trust:**
- **Apply to the Charity Commissioner:** Register the SHG as a trust under the Indian Trusts Act, 1882.
- **Documents Required:** Trust deed, registration certificate, and list of trustees.
3. **Registration as a Cooperative Society:**
- **Apply to Registrar of Cooperative Societies:** Register the SHG as a cooperative society under the Cooperative Societies Act.
- **Documents Required:** Cooperative society registration certificate, list of members, and bylaws.
### **3. Obtaining a PAN Card for SHG**
Once the SHG is registered under the appropriate legal structure, follow these steps to obtain a PAN card:
1. **Gather Required Documents:**
- **Registration Certificate:** Proof of registration of the SHG (as a society, trust, or cooperative).
- **Identity Proof:** PAN card of the authorized signatories (e.g., President, Secretary).
- **Address Proof:** Address proof of the SHG’s registered office.
- **Bank Statement:** A recent bank statement in the name of the SHG.
2. **Complete the PAN Application Form:**
- **Form 49A:** For applying for PAN for entities, complete Form 49A. This form can be downloaded from the Income Tax Department’s website or obtained from PAN application centers.
- **Form Submission:** Submit the form online through the NSDL or UTIITSL website, or in person at a PAN application center.
3. **Submit the Application:**
- **Online Submission:** Submit the application form online, pay the required fee, and upload the necessary documents.
- **Physical Submission:** Alternatively, submit the completed form and documents at a PAN application center.
4. **Receive PAN Card:**
- **Acknowledgment:** After processing, you will receive an acknowledgment receipt.
- **PAN Card Dispatch:** The PAN card will be dispatched to the address provided.
### **4. Maintenance of Books of Accounts**
Maintaining books of accounts is generally mandatory for all SHGs, especially if they are registered entities:
1. **Book Maintenance:**
- **Account Records:** Maintain accurate records of all financial transactions, including income, expenses, and receipts.
- **Minutes of Meetings:** Keep minutes of meetings and resolutions passed by the SHG.
2. **Audit Requirements:**
- **Society/Trust/Cooperative Compliance:** Depending on the legal structure under which the SHG is registered, an audit may be required. For instance:
- **Societies:** May require annual auditing by a chartered accountant as per the rules of the Societies Registration Act.
- **Trusts:** Audit requirements may depend on state-specific regulations and income levels.
- **Cooperatives:** Typically require regular audits as per cooperative society regulations.
3. **State-Specific Regulations:**
- **Check Regulations:** Confirm specific regulations related to accounting and auditing with the relevant state authority or legal advisor.
### **5. Summary**
1. **Register the SHG** under the appropriate legal framework (society, trust, or cooperative).
2. **Apply for a PAN card** using Form 49A with necessary documents.
3. **Maintain accurate financial records** and comply with audit requirements as per the legal structure.
Ensure you follow the applicable regulations and seek professional advice if necessary to ensure compliance with legal and tax obligations.
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