Partnership firm Registered with name "ABC Pvt Ltd."
This query is : Resolved
20 September 2007
some one made a partnership firm with name as "ABC Pvt Ltd.", He had received Pan as well as sales tax registeration for the same name.
As adding Ltd word without forming co is violation of co law, so now what should be the course of action now.
can he change the name and submit an application for change in PAN data and sales tax reg. Data? or convert the firm to PVT LTD company or Discard the firm???
As adding Ltd word without forming co is violation of co law, so now what should be the course of action now.
can he change the name and submit an application for change in PAN data and sales tax reg. Data? or convert the firm to PVT LTD company or Discard the firm???
20 September 2007
Hi Manish,
Has he registered the company with ROF.
he has to surrender the PAN and ST Numbers with the relevant details.
As the name given is for a Company and not a P'nership firm.
Apply for the new PAN and ST registration only after you register and get the certificate from ROF to be on the safer side - this is a suggestion
Has he registered the company with ROF.
he has to surrender the PAN and ST Numbers with the relevant details.
As the name given is for a Company and not a P'nership firm.
Apply for the new PAN and ST registration only after you register and get the certificate from ROF to be on the safer side - this is a suggestion
20 September 2007
Thanks for the reply,
The firm is not registered with ROF, only one partnership deed is prepared.
the firm has not applied anywhere for the name becoz in case of partnership firm it is not required.
in future they also dont want to register with ROF.
so now what should be the possible action?
in case he surrender the st registeration, he lost the security deposit ( in practical terms ) and the sum paid for registration of firm.
The firm is not registered with ROF, only one partnership deed is prepared.
the firm has not applied anywhere for the name becoz in case of partnership firm it is not required.
in future they also dont want to register with ROF.
so now what should be the possible action?
in case he surrender the st registeration, he lost the security deposit ( in practical terms ) and the sum paid for registration of firm.
20 September 2007
Hi!
Suggestion No. 1
I suggest form a new company with same partners. This new company will purchase the company formed with PAN and ST no. already alloted. Since partners will be same. No need for new PAN. The new company can tranfer the ST no. of the old company. If the State Sales Tax authorities accepts the same. Check with the first. Few State S.T. authorities do allow.
Suggestion No. 2
To avoid any future consequences the simple way is to surrender all the REgn received and close the company. The financial loss due to mistake will be much less as compared to litigations if any filed aganist the company at a later date by Income Tax authroities and S.T. Dept.,
Accept the mistake made by the partners and open eyes of the concerned officers who had alloted PAN and S.T. without checking the documents and that to in line of the formation of company. In my view once you use word PVT LTD., Before allotment of PAN or ST they must call for ROC copy.
Suggestion No. 1
I suggest form a new company with same partners. This new company will purchase the company formed with PAN and ST no. already alloted. Since partners will be same. No need for new PAN. The new company can tranfer the ST no. of the old company. If the State Sales Tax authorities accepts the same. Check with the first. Few State S.T. authorities do allow.
Suggestion No. 2
To avoid any future consequences the simple way is to surrender all the REgn received and close the company. The financial loss due to mistake will be much less as compared to litigations if any filed aganist the company at a later date by Income Tax authroities and S.T. Dept.,
Accept the mistake made by the partners and open eyes of the concerned officers who had alloted PAN and S.T. without checking the documents and that to in line of the formation of company. In my view once you use word PVT LTD., Before allotment of PAN or ST they must call for ROC copy.
21 September 2007
If you want to convert the firm in the company then its better to follow part IX of companies act. According to that you should make a suppliment deed of partnership under part IX of the Companies Act and convert the firm in the Company.
21 September 2007
If you want to convert the firm in the company then its better to follow part IX of companies act. According to that you should make a suppliment deed of partnership under part IX of the Companies Act and convert the firm in the Company.
21 September 2007
violation of law is on record. Still you want to continue the same for facing penal action.Understand.
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