Wrong category of pan no.

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 July 2013 A partnership firm applied for PAN Number. IT dept issued a PAN No. for company instead (4th letter was "C"). Now the firm wants to fill ITR-5, however since the PAN No. is of company, IT dept is saying to fill ITR-6.

If the firm opts for rectification of PAN No., it will lose TDS credit. Also is it legal for a firm to fill ITR-6?

What should the firm do now?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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24 July 2013 no any firm cannot file itr-6 in any case.

it is dept mistake and u need to intimate them as fast as possible to change the pan no. and issue correct pan for firm and then ask all the parties to revise their return after u receive correct pan no of your firm from it dept.

quoting wrong pan attracts penalty under income tax act.

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CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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25 July 2013 Its an exceptional case.

My advise is to meet your AO and then take up the matter further as advised by him.

You can also werite a letter to PAN issuing authority along with the copy of PAN and PAN allotment letter.

The department may allow you to file paper return so that you dont face problem of asking deductors to revise TDS return and then correction can be made afterwards.

This is purely my point of view since the problem in instant case is a unique one.

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