We are three partners in a partnership firm. The partnership firm has its own PAN Card and is registered as a REGULAR tax payer in GST,
However, one of the partners wants to simultaneously start a new business as a proprietor.
Can this individual opt for COMPOSITION scheme for his new proprietorship business while continuing as a partner in the partnership firm?
Can this individual opt for UNREGISTERED DEALER scheme for his new proprietorship business while continuing as a partner in the partnership firm?
Please respond to both queries. Its urgent for me.