• Multiple proprietorships

can any indian individual open 2 or more propertiorship firm with single PAN number
Asked 7 years ago in Income Tax

Yes there is no restriction in having more than one business in same PAN.

Just that you have to disclose all the balancesheets and profits from all the business in the IT Return.

Regards,

Ria

Ria Nagpal
CA, Ahmedabad
49 Answers
5 Consultations

5.0 on 5.0

No you can have only one TAN no against single PAN.

Ria Nagpal
CA, Ahmedabad
49 Answers
5 Consultations

5.0 on 5.0

Hello Sir,

You can very well open N number of Proprietorship firms with a single PAN but at the time of filing your Income Tax Returns you will have to club all of them and file a single return.

Trust this clarifies your query.

Feel free to call / get back in case of further clarifications.

Thanking You.

Regards,

Rohit R Sharma

BCOM, ACA, LLB-GEN, CERT. FAFP.

Rohit R Sharma
CA, Mumbai
2104 Answers
95 Consultations

5.0 on 5.0

Dear Sir,

You cannot apply for multiple TAN on a single Pan.

Trust this clarifies your query.

Feel free to call / get back in case of further clarifications.

Thanking You.

Regards,

Rohit R Sharma

BCOM, ACA, LLB-GEN, CERT. FAFP.

Rohit R Sharma
CA, Mumbai
2104 Answers
95 Consultations

5.0 on 5.0

Dear Sir,

Yes, one can have two or more businesses under a single PAN but ITR return will be filed only one consolidating all the businesses.

Further you can only have one TAN against a single PAN.

please feel free to revert in case of any doubts

Thanks and Regards

Abhishek Dugar

Abhishek Dugar
CA, Mumbai
3576 Answers
183 Consultations

4.8 on 5.0

Yes you can open 2 or more proprietorship concerns with one PAN. The income from all will be taxed in the single PAN

Shyam Sunder Modani
CA, Hyderabad
1408 Answers
164 Consultations

5.0 on 5.0

Ask a Chartered Accountant

Get tax answers from top-rated CAs in 1 hour. It's quick, easy, and anonymous!
  Ask a CA