WAY TO AVOID REGN
This query is : Resolved
08 March 2010
HELLO EVERYONE
ONE OF OUR CLIENT IS PROPRIETOR OF 2 FACTORIES WHCIH MANUFACTURES EXCISABLE GOODS.
BOTH THE FACTORY COMES UNDER SAME JURISDICTION AND BUSINESS NAME FOR BOTH IS DIFFERENT BUT HE IS THE PROPRIETOR OF BOTH.
BOTH FACTORIES ARE REGISTERED UNDER MAVAT
COMBINED TURNOVER OF BOTH THE FACTORY IS LIKELY TO EXCESS THE SSI LIMIT
MY QUESTION
I ADVISED MIM TO MAKE HIS WIFE THE PROPRIETOR OF ONE FACTORY AND IN THIS WAY REGN COULD BE AVOIDED.
IS THIS THE PROPER WAY
ONE OF OUR CLIENT IS PROPRIETOR OF 2 FACTORIES WHCIH MANUFACTURES EXCISABLE GOODS.
BOTH THE FACTORY COMES UNDER SAME JURISDICTION AND BUSINESS NAME FOR BOTH IS DIFFERENT BUT HE IS THE PROPRIETOR OF BOTH.
BOTH FACTORIES ARE REGISTERED UNDER MAVAT
COMBINED TURNOVER OF BOTH THE FACTORY IS LIKELY TO EXCESS THE SSI LIMIT
MY QUESTION
I ADVISED MIM TO MAKE HIS WIFE THE PROPRIETOR OF ONE FACTORY AND IN THIS WAY REGN COULD BE AVOIDED.
IS THIS THE PROPER WAY
09 March 2010
Make one firm as partnership firm with husband and wife as partners with wife 80% share and husband 20% share and one as properietor being husband. The reason behind if she is not involved in business tomorrow at the time of assessement or enquiry if she is not a position to answer then entire process will become waste.
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