Whether I should have Multiple PAN No - Individual + HUF

Krishnamohan Illendula 1
Viewed 1925

I would like form a HUF where I will be Karta of the HUF. The HUF will consist of myself (salaried employee), my wife (Professional), my elder Son (Salaried Employee) and my younger son (student). In this situation, I would like to know, whether I should have 2 separate PAN nos i.e. first one for my salaried income and the second one for HUF account.

I request memebers to suggest me the procedure to form HUF and also about suggestions for having multiple PAN Nos

huf-karta multiple-pan huf-account pan-card income-tax
1 Answers

Having multiple PAN Cards is allowed under Income Tax Act if you are using them for HUF and Individual.

An HUF comes into existence automatically at the time of marriage. And it is not mandatory for you to register your HUF. If you still want to register the HUF, you can submit the creation deed

CA Karan Batra532
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