Is a separate PAN required for a partnership firm?
Respected Sir, I got my PAN card which is issued in the name of our company "TASTE OF BMC". This is a partnership firm, that opened 1 month back. Due to some reason, there are some changes in the partners of this company, two existing partners leaving the company and one new partner is joining us. In this situation, do we need to surrender the PAN and issue a new one or we can use the same PAN issued to our company?
You can continue to use the same PAN card for your company, even if there are changes in the partners. You do not need to surrender the PAN and issue a new one. However, you will need to update the PAN card information with the Income Tax Department (ITD) to reflect the changes in the partners. You can do this by filing Form 49A with the ITD. Contact us for further enquiry.
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