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POST LLP registration

alokj (manager) (33 Points)

30 December 2010

Hello friends. Needed some help.

I have recently converted a pvt limited company to a LLP.

I have few queries

a. Do I need a new PAN / TAN number. If so in which category should one apply.

b. What all filings do i need to do henceforth for maintaing my LLP.

thanks
alok jain

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2 Replies

laxman suthar (Asst. Manager Taxtation ) (329 Points)
Replied 30 December 2010

A. Since Income tax act apply as its apply on Firm So in my opinion TAN & PAN should be category under Firm

B. Pls be clear filling under income tax act or under ROC

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CA Karan Kapoor (unemployed) (31 Points)
Replied 11 January 2011

well the FA 2009 has granted the A Limited Liability Parnership Firm a status equivalent to that of an Partnership Firm(usual ones's with unlimited liability), thus you would be required to file your return as under a"Firm", thus requiring a new PAN for the firm and TAN since the previuos ones would be in the name of the Company. and "Designated Partner" as precribed under hte limited liability act would sign the return.

you can also use the provisions of Income Tax Act fro carrying forward the losses of your company,just in case you have them.