Save Rs 588 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Association of Persons

Save Share

This query is : Open

karun (Querist)
Follow

03 March 2010 An AOP was formed on 01.04.2005 by virtue of a un terminatable lease deed for 25 years . It contained two
individuals father and son, Father died.

The lease deed contain a clause that it cannot be terminated by any means.

It means that now surviving son will be the leassor.

But son wants to continue the AOP taking his son in place of his father

My question are :

What will be the Fate of that AOP do we have to surrender the PAN No. alloted previously and apply the new Pan No.

or there will be only rectification of PAN

Shyam Lal Naik

Shyam Lal Naik (Expert)
Follow

03 March 2010 Few legal issue is involved. AOP is an association two or more persons. Whether one person can continue the AOP ?

So far rectification of PAN data is concerned, there is no need, if the name is not changed.

The Assessing Officer should be provided/furnished a self attested copy of the agreement between the members evidencing the change in the composition etc.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now