A Sole Proprietorship having a TIN number is already dealing in Plastic Toys. Now the assesse is planning to buy a sole proprietorship firm.
My question is:
Whether a separate TIN no. is required for the sole proprietorship firm bought by the assesse?
OR
The assesse can continue with the existing TIN no. ?
I am not a CA however it should depend on the nature of product in which he is willing to do new business and whether that is included in the form during appying for the 1st TIN. Or there may be some procedure to include the nature of business in existing TIN.
Expert comments required.
But what if he wants to continue the business of proprietorship firm bought in the name of ABC enterprises and the existing business in the of XYZ enterprises.
Then he will have two sole proprietorships and the assesse is registered under DVAT in the name of XYZ enterprises.
In this case, can the products in new business be included in the DVAT registration in the name of XYZ Enterprises whereas the sale of new products will be done in the name of ABC Enterprises by filing Form 07?
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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