pan card of school run by a charitable organisation

[M. K. Anwar and Co.]

Dear Colleagues,

 

A charitable organisation is running a school. It has its pan and submits income tax return after including the school's surplus to its own surplus.

 

The school wants to open a bank account in its own name for which the banks want a pan card in the name of the school.

1. Can the school obtain a pan card in its own name? Is it consistent with the rules?
2. Will that mean the school will have to submit its own return of income?
3. If it should not obtain its pan card, how to open a bank account?

Regards,

CA Faiz Anwar

[vimal...@gmail.com]

Mr. Anwar,

The school does not need to obtain a PAN Card. The school is nothing but a unit of the charitable organisation.

A resolution of the society to this effect should suffice.

Regards

Ritesh Vimal

Sent on my BlackBerry® from Vodafone

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From: "M. K. Anwar and Co." <mkan...@gmail.com>

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Date: Wed, 19 Feb 2014 12:37:25 +0530

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Subject: [CA RUNGTA PD] pan card of school run by a charitable organisation

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[RISHAB JALAN]

May be the school can get pan card, probably you have to mention the name of the charitable trust as representative assessee in the application form. Confirm the same from TIN call centre and apply.

Regards,
CA Rishab Jalan

[Pankaj Agrwal]

Issue is not whether you can get PAN Card in School’s name or not. Kindly see section 160 for the definition of ‘Representative Assessee’.  In my view it does not apply to the present case.  In the given case, PAN can only of the Charitable trust.  Can an individual running business in different trade name have different PAN ? Similarly, owner being the Trust, PAN will be of trust only.

Thanks

 

 

CA. Pankaj Agrwal

225 Tej Kumar Plaza, Hazratganj,

Lucknow 226001

Phones: 0522-4009167

pan...@mgcoca.com; agrwal...@icai.org

agrwal...@gmail.com