Whether institute needs separate pan card
This query is : Resolved
01 August 2020
I am running private institute under welfare society which registered under societies registration act and have pan card of welfare society. Is it essential to apply for seperate pan card for institute,and if yes how to apply and what documents needed and under which category.
01 August 2020
No, if the society is running that institute then there is no need to take separate PAN for the institute. The institute will be treated as a unit of Society. The income generated from the institute will be reported in the Income Tax Return of Society.
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