Hi, I have one partnership firm and we filed ITR till 2021-22. We stopped doing any transaction in that partnetship firm thereafter and did not file ITR thereafter for 2022-23,2023-24,2024-25.
Now We want to cancel the PAN card of that partnership firm and want to make sure that no further compliance arises.
How we can do this ? Please guide
To cancel the PAN card of your partnership firm, you can follow these steps:
Notify the Assessing Officer: As per Section 176(3) of the Income Tax Act, you need to inform the Assessing Officer (AO) about the discontinuation of the business within 15 days of cessation. This is a mandatory step.
Apply for PAN Cancellation:
Visit the and select the option for "Changes or Correction in existing PAN data/Reprint of PAN card."
Fill out the required details and submit the application for cancellation.
You will receive a token number via email for tracking your request.
Ensure Compliance:
File any pending Income Tax Returns (ITRs) for the years you missed, if applicable, to avoid penalties.
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