File two ITR's, one on personal name and second on firms name? - CiteHR
Industrial Relations
Korgaonkar K A
Raj Kumar Hansdah
Shrm, Od, Hrd, Pms
Accounts Manager

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Please let me make more clearer for myself. For eg. A person named Divya Mehra has a proprietorship firmed name Professional Consultancy. She has got pan card both on her name Divya Mehra and on her firms name Professional Consultancy. There is No other source of income and all the income that she earns is through her firm.
Please let me know which of the following is correct:
1. She will have to file two ITR's, one on her personal name (Divya Mehra) and second on her firms name (Professional Consultancy.)
2. She will have to file only one ITR i.e on her firms name - Professional Consultancy.

Dear Akansha
Please give some more details regarding this query.
How many employees are engaged in that Professional consultancy. The total income will be considered for filing that ITR.
Whatever she receives as her salary/honorarium/compensation package from Professional Consultancy, the ITR should be filed in her personal PAN Card.
But as for as my concern, one need not to have two Pan Card.
Further your friend can approach some good auditor who can guide & help properly in this subject.

She has 2 PAN cards; one in her own name, second in the name of the firm she owns.
Naturally, she has to file 2 returns for each PAN numbers.
Why is there a confusion ??
It should have been amply clear while filing application for a Permanent Account Number. Or, was there any other motive for applying for PAN ???
Warm regards.

Dear Akanksha,

It is surprising to note that

Divya Mehra has a proprietorship firmed name Professional Consultancy. She has got pan card both on her name Divya Mehra and on her firms name Professional Consultancy.

I will tell you here to how to read your PAN Card.

for Example AAAAA9999A

Here two alpha characters prior to Numeric indicate the status and name of person.

1. in case of Divya Mehra it should be AAAPM999A. This P Stands for personal and M Stands for Mehra. This P = Personal.

2. In case of Partnership Firm Firm Name is Ganesh Enterprises it should AAAFG999A F-Firm,

3. In case of Company Firm name Idea Cellular the PAN should be AAACI999A C=Company,

4. in case of Trust Firm name is Balaji Society the PAN should be AAATBA T=Trust

In case her firm is Proprietory then she can not get any PAN Card in the name of firm. It is always Individual i.e. Proprietary. I suggest you to please verify both the PAN Numbers.

Also Akanksha, please check the same with your family member's PAN CARD. It should be AAAPM999A. i.e. A Can be any alphabet, 9 also can be any number but the PM is constant with all.

Coming to the answer portion she has to file her Income Tax Returns in her individual capacity and all income should be shown there only under one and only one IT Return.

I hope the matter is clear to you.


Dear Ramakant ji,
Some one told me that you can get PAN number in the name of your proprietary firm. Also I have seen many ads stating that PAN card is given in the name of proprietor. But, according to me, it is not mandatoy to have saperate PAN for proprietary firm. We need to confirm the same.
I have proprietory firm with no saperate PAN ln its name.

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