NEW APPLICATION FOR PAN

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article assistant
53 Points Posted on 18 July 2020
In my partnership firm I have 5 partners .

4 are residents and 1 is NRI but he is origin of india.

Should I apply PAN normally as of a firm

or there are some restrictions.
please guide.
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On 18 July 2020 at 11:57 Report
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This discussion addresses the process of applying for a PAN (Permanent Account Number) for a partnership firm that includes a Non-Resident Indian (NRI) partner. The user seeks clarification on whether to apply normally or if there are specific restrictions, particularly concerning capital contributions from foreign partners. Guidance is provided that a partnership firm is considered resident in India if its control and management are partly or wholly situated within India.

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Practising CA
8954 Points Posted on 18 July 2020
Apply normally.
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On 18 July 2020 at 13:05
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article assistant
53 Points Posted on 18 July 2020
Is there any restriction on capital contribution by foreign partner??
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On 18 July 2020 at 13:07
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Practising CA
8954 Points Posted on 18 July 2020
A partnership firm is said to be resident in India if then control and management of its affairs wholly or partly situated within India during the relevant previous year.

Answer to Can a NRI become a partner in a partnership firm? by Indiavent https://www.quora.com/Can-a-NRI-become-a-partner-in-a-partnership-firm/answer/Indiavent?ch=3&share=dd6c6d2a&srid=hRvlA
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On 18 July 2020 at 13:18

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