Hi All,
Can a proprietor use his/her PAN No. ( which is in his/her personal name) for his/her proprietorship firm?
Is any rule that a properitor is required PAN No. compulsory?
Hi All,
Can a proprietor use his/her PAN No. ( which is in his/her personal name) for his/her proprietorship firm?
Is any rule that a properitor is required PAN No. compulsory?
hai, good morning every body
| Originally posted by :Rachana Gadage | ||
| " | Hi All, Can a proprietor use his/her PAN No. ( which is in his/her personal name) for his/her proprietorship firm? Is any rule that a properitor is required PAN No. compulsory? |
" |
The problem will now come up when PAN is compulsory for all deductees. Say if Pan No. is in name of Mr. ABC who is proprietor of XYZ Corp. If he issues bill in name of XYS Corp and quotes his PAN of Mr. ABC to the deductor, the database will not match when deductor makes payment and files the TDS returns. Therefore I think they will have to pass a law for all proprietorship concerns to change their businesses totheir individual names.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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