Partnership firm

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 October 2013 Dear Sir,
First Query - One of our client has ended his partnership firm on 01/04/2013 and make the dissolution deed and the partnership firm become proprietorship firm, but his Vat & TDS number is still active in the name of partnership firm because of Vat audit and TDS revised return respectively are pending, now should my client need to file nil TDS & vat return in the name of partnership firm for the current period and till the period he submit his dissolution deed to various departments.

Second Query - To which departments, my client need to submit dissolution deed to shut down his partnership firm completely

Thanking You.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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10 October 2013 Instead of filing Nil returns, you do immediately do as under:

1. Under section 176, you are required to inform assessing officer within 15 days of discontinuing your business.

2. For surrender of TAN, you may write a letter to TDS AO stating reasons for surrender of TAN as "discontinuation of Business"

3. VAT laws of respective state provide for surrender of VAT registration. You may kindly refer to the respective state law for the same.

Querist : Anonymous

Querist : Anonymous (Querist)

10 October 2013 Dear Sir,
As stated by you, but my Vat Audit is still pending and Vat returns need to be revised, if i surrender then how would i complete my above mentioned things. Although i have not surrender this numbers, so i required to file nil returns. Please advise me.

Thanking You.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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10 October 2013 you can file application for surrender. The processing of cancellation of VAT registration shall be independent of your earlier tax liabilities and both the processes shall run separately.

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