Purchase of shares of all partners by one partner in a Partnership firm
1. Whether the business can carry on as partnership firm or as a sole proprietorship firm ?
2. Can the existing PAN will exist any more ?
3. In which PAN the ITR will be submitted ?
4. Whether existing GSTR will continue or require new GSTR ?
PAN TAN GSTIN ..... etc... remains same....
One confusion, if business will submit its ITR through its exiting PAN, then how the proprietor will submit his/her ITR.
For any changes to be effected in ITR, there should be change in deed to that effect.
In present condition, only interest paid to individual partner/s gets changed.