Whether new pan required on conversion of firm into llp?

Ankit (XYZ) (24 Points)

25 April 2015  

Hello Everyone..

Whether a partnership firm is required to obtai new PAN on conversion into Limited Liability Partnership or it should continue to use old PAN no. and make an application for correction in PAN database viz. name and date of formation? Please note that under the Income Tax Act, firm and LLP are treated at par and defintion of firm includes LLP and thus as such there is no change in constitution of firm on conversion into LLP.

If new PAN is required to be obtained, then how the TDS credit in OLD PAN will be claimed by LLP? Further what should be done for income tax return filing for the broken period of a financial year?

Await response.. thanks in advance

- Ankit