Conversion of partnership firm into proprietorship

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 April 2016 Dear Experts,
Mr. X and y were partners now mr. Y has been retire from the firm however mr. X want to continue this business with out admission of new partners....query..1) weather this firm can be convert into proprietorship with out change the pan No. & CST No.

Regard
Sunil khurana

U S Sharma

U S Sharma (Expert)
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12 April 2016 No
a partnership firm has to be compulsary dissolved, PAN to be surrendered after filing the return upto the date of dissolution, then the remaining owner can insert his personal PAN at all places, by applying as proprietor

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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12 April 2016 There is no option to convert, Partnership firm, to proprietary concern. You have to dissolve firm, you have to apply new cat, PAN number of proprietor is to be used for proprietary.