PAN Number
Querist :
Anonymous
(Querist) 22 July 2011
This query is : Resolved
A NGO may reistered unger any statute i.e Socity, company etc.
Is PAN Card is mandatory for a NGO
Querist :
Anonymous
(Querist) 22 July 2011
Is PAN Card is mandatory for a NGO
R.Ramachandran
(Expert) 22 July 2011
It is mandatory to quote PAN on return of income, all correspondence with any income tax authority.
It is also compulsory to quote PAN in all documents pertaining to the following financial transactions :-
(a) sale or purchase of any immovable property valued at five lakh rupees or more;
(b) sale or purchase of a motor vehicle or vehicle, [the sale or purchase of a motor vehicle or vehicle does not include two
wheeled vehicles, inclusive of any detachable side-car having an extra wheel, attached to the motor vehicle;]
(c) a time deposit, exceeding fifty thousand rupees, with a banking company ;
(d) a deposit, exceeding fifty thousand rupees, in any account with Post Office Savings Bank;
(e) a contract of a value exceeding one lakh rupees for sale or purchase of securities;
(f) opening a bank account;
(g) making an application for installation of a telephone connection (including a cellular telephone connection);
(h) payment to hotels and restaurants against their bills for an amount exceeding twenty-five thousand rupees at any one time.
If your NGO does not attract any of the above transactions, then it need not have PAN otherwise it should have one.
Querist :
Anonymous
(Querist) 25 July 2011
i wanted to know that wheater PAN is mandatory or not for any NGO, & it is clear that if one NGO wanted to open a bank a/c or take telephone No in its favour , even in that case it is mandatory to have PAN. which meane that in alomost all cases PAN is required.
