Convertion of Partnership firm to Proprietory
This query is : Resolved
26 March 2011
Dear sir,
A & B are the Partners of a Firm. Now B wants to close the business.
After giving proper good will to 'B', Can 'A' continue that business under same name and Same TIN? or saparate TIN is required?
A & B are the Partners of a Firm. Now B wants to close the business.
After giving proper good will to 'B', Can 'A' continue that business under same name and Same TIN? or saparate TIN is required?
20 April 2011
Yes, "A" Can do so. for that
1)
"A" has to inform the Change in Constitution of Firm to Sales Tax Department by submitting the "Partnership dissolution Aggrement" which cleary shows that "B" voluntarily retires from Partnership Firm and he has no objection though "A" continue the same business under same name under same TIN.
2) Form -V submit to Registrar of firm for Notice of Disolution of Firm.
3) Cancel the Partnership Firm's PAN Card
1)
"A" has to inform the Change in Constitution of Firm to Sales Tax Department by submitting the "Partnership dissolution Aggrement" which cleary shows that "B" voluntarily retires from Partnership Firm and he has no objection though "A" continue the same business under same name under same TIN.
2) Form -V submit to Registrar of firm for Notice of Disolution of Firm.
3) Cancel the Partnership Firm's PAN Card
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