I have applied for a HUF PAN CARD in the name of xyz ventures.
The Huf affidavid which was submitted states that
We have formed an huf in the name of xyz ventures where in I, abcd am the Kartha
I have also received the PAN CARD IN THE NAME OF MY HUF ie as xyz ventures
I have 2 questions
1. is it a must that the PAN card should be in the name of the kartha or can it also be like how I have taken
2. now the bank is asking me to change the PAN card name to kartha's name to open a current account.
do I need to change the PAN card to kartha name?
1) It is possible for an HUF to obtain a PAN card in the name of the HUF, such as "xyz ventures." However, it is not a requirement that the PAN card be issued in the name of the kartha (the head of the HUF).
2) If a bank is asking you to change the name on your PAN card to the kartha's name in order to open a current account, it is likely because the bank is requesting proof of your identity as the kartha of the HUF.
CAclubindia
