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Coowners of business
if there are co owners in a business then in whose pan buisness will be registered ? can we use both the PAN and then claim 20 lakhs for each PAN and get ourselves exempt from gst
Replies (4)
Quick Summary
No. it is not possible.
If You are a Co-owner in a business that you are required to constitute Partnership firm/AOP for doing business. Required to get PAN on name of firm, than you can do business or can apply for GST registration, if applicable on name of that Firm..
And on your PAN you can run only Proprietorship business, not a business in co-ownership..
if it's co-ownership business than its considered as seprate legal entity. (Seprate from you)
And on your PAN you can run only Proprietorship business, not a business in co-ownership..
if it's co-ownership business than its considered as seprate legal entity. (Seprate from you)
Thank u sir
Most welcome............
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