Whether I should have Multiple PAN No - Individual + HUF

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

asked Aug 17 '11 at 17:26 by killendula 1333

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

answered Aug 17 '11 at 20:52 by CA Karan Batra 53216


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Asked: Aug 17 '11 at 17:26

Seen: 2,581 times

Last updated: Aug 18 '11 at 23:55