REGARDING PROPERITOR

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accountant
564 Points Posted on 14 February 2020
RESPECTED ALL MEMBERS
ONCE PARTNERSHIP FIRM NOW ALL PARTNER INDIVIDUAL PROPERITOE FIRM START SO WHICH PROCESS ABOUT IT.
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On 14 February 2020 at 17:47 Report
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This discussion clarifies the process for converting a partnership firm into individual sole proprietorships. It explains that no special procedure is needed beyond formally dissolving the partnership via a deed. Each former partner can then operate their own business as a sole proprietor, using their individual PAN for GST registration if required.

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"Do the Right Thing...!!!"
128162 Points Posted on 14 February 2020
Can't understand
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On 14 February 2020 at 18:02
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17269 Points Posted on 15 February 2020
No special process.

Regular process that is execution of Dissolution of Partnership Firm under a deed

All partners will start business as a properitor and will register Proprietory concern under GST if required.

No seperate PAN needed bcoz proprietory concern will be carried on in properitor's Individual PAN Number only.
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On 15 February 2020 at 11:38
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accountant
564 Points Posted on 15 February 2020
Thank u very much for this help
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On 15 February 2020 at 11:50
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Consultant
1891 Points Posted on 15 February 2020

Execute the Dissolution deed of Partnership Firm and surrender the GST reg and PAN,

After that all the partners can only do their business in their proprietory concerns 

 

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On 15 February 2020 at 15:24

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