Suppose 4 Person Sachin,Tarun,Ali and Rakesh decide to form a company STAR Exports Private Limited
In this case,Star Exports will have a separate Pan No and file ITR for the same
Also all 4 person will file their Individual ITR
Note:-
ITR for Company is Compulsory in all cases
ITR for Shareholders and Directors to be filed if their Income is more than Income Tax Exemption Limit(more than 250000)
(This is normally when they are receiving salary from company)