05 May 2011
A partnership firm has been dissolved. Now one of the partner wants to carry on businees in the partnership name with sole propriortorship capacity.Should he get new individual pan number & what other formalities to carry on the same businees so that new bank account can be opened, ITR should be filed.
05 May 2011
Yes. The individual PAN allotted to him will be used for this purpose. ITR for the firm as well as well as for individual should be filed. No major formalities in case business is desired to carry on in proprietor capacity.
CAclubindia
