banner_ad

Parrtnership Firm To Proprietory convertion

This query is : Resolved 
Profile Image

Profile Image

(Querist)
31 January 2011 Sir,

"Laxmi Packging" is a Partnership Firm having 2 partners (Ram & Shyam). and doing businee from 3 years.Ram is the son of Shyam

They want to Convert this Firm into ProprietorShip (to avoid 30% IT Rate)

1) Can Ram Continue the same business with same TIN Number under the Same Name?
2) Is it necessary to inform this conversion to VAT & IT Department

Thank you.

Profile Image

C.A.Javid Patel

Profile Image

C.A.Javid Patel (Expert)
31 January 2011 1. In case of Income Tax Department the communication is necessary becuase even if the Ram continue the same business. And from the next year the business return will go under the PAN no. of Ram and the Frim pan no. will not exist and there is no return of Partnership firm.

2. In case of Tin i am not confirmed but you have to tell the department that the constition is changed.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
12 May 2026
Accounts Executive

Nafa Group

Mumbai

B.Com

View Details
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
14 May 2026
Financial Analyst - Remote Finance Expert

HiringBridge

Ahmedabad

CA

View Details
Company
10 May 2026
Finance specialist

Right way solution

Ajmer

CA

View Details