Cash Transaction Notice
This query is : Resolved
03 March 2017
A is a propietor of XYZ firm. XYZ firm was previously a partnership firm but then converted into proprietorship firm. Now the cash transaction notice came on partnership firm PAN Number. Now how to reply this notice as the partnership is not in existence.
CA Chandan Sharma
(Expert)
03 March 2017
Hi Amit
Please share the facts in written in reply to the notice received and discuss the case with the respective jurisdictional assessing officer. Partners are still liable for the business transaction made in the partnership firm.
Please share the facts in written in reply to the notice received and discuss the case with the respective jurisdictional assessing officer. Partners are still liable for the business transaction made in the partnership firm.
03 March 2017
Whether I can reply it through online portal.
As it is the mistake of the bank that they had not updated their data.
What is the consequences of not surrendering the partnership PAN.
CA Chandan Sharma
(Expert)
03 March 2017
Initially please visit the office of the assessing officer personally and discuss the case with him
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