Changing of pan with client due to ownership transfer
This query is : Resolved
20 September 2014
Dear Sir's
I have owned a small business.
With an mutual understanding my friend had made investments (Working capital) and i'll complete the works by myself and the profit will be shared by us equally.
I've have registered with SSI under my name as a sole proprietor ship and opened a bank a/c with my name as sole proprietor.
This is Small business that does not cross Rs. 10 lakhs in total hence i didn't registered with VAT or ST.
As my friend was investing we produced his PAN for our clients for TDS purpose.
In this situation my friend has another business to watch around will not be able to provide any investments. All his previous investments were returned to him and settled.
All my question is How to Change the PAN details which was available with my clients? Is their any procedure? else shall i write a letter to my clients asking them to amend the PAN details available with them?
Request your reply at the earliest.
Thanks in advance...
I have owned a small business.
With an mutual understanding my friend had made investments (Working capital) and i'll complete the works by myself and the profit will be shared by us equally.
I've have registered with SSI under my name as a sole proprietor ship and opened a bank a/c with my name as sole proprietor.
This is Small business that does not cross Rs. 10 lakhs in total hence i didn't registered with VAT or ST.
As my friend was investing we produced his PAN for our clients for TDS purpose.
In this situation my friend has another business to watch around will not be able to provide any investments. All his previous investments were returned to him and settled.
All my question is How to Change the PAN details which was available with my clients? Is their any procedure? else shall i write a letter to my clients asking them to amend the PAN details available with them?
Request your reply at the earliest.
Thanks in advance...
Nikhil Kaushik
(Expert)
20 September 2014
yes you should provide details of your pan to your clients and preferably through a letter.
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Nikhil Kaushik
(Expert)
07 October 2014
good...best of luck and take care.
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