Comments on: Sole Proprietary or Partnership? How to choose your company’s legal avatar?

By: Rahul

Rahul — Thu, 14 Apr 2011 03:35:16 +0000

Hi
I Am Looking To Register A Sole Proprietorship Company And Wants To Know The Procedure. Please Mail Me On ranbir961@gmail.com .
I Want To Start A Web Design Company.
Regards
Rahul
http://xpresswork.com

By: Arun

Arun — Tue, 08 Mar 2011 19:36:20 +0000

Dear Shardha,
I am working in a MNC and side ways started a partnership firm almost a year back with my two friends (total 3 partners ), we have opened up a company account in bank and try to run the business (trading of goods -perfumes , Bhaint Material ), I was depending on other two and as they doesn’t show any interest in business and we had done nothing in business . Now I am pushing business by my self and have submitted securiities( FDR )against tenders in the name of company and start receiveing orders, My both partners have given me NOC and transfer their complete share to me . Now the queries are :
1) The company will be term now as partnership firm or Sole properitership .
2) Do Ihave to file seperate Return ? , one for my slary Job and one for my own firm
3) I have applied for firm Pan Number, should I also take TAN # for firm.
4) I like to register the firm , what is procedure and charges
5) I like to have TIN # also , as sale will be in other state , what is procedure and charges
Your Immediate revert and guidelines wil be highly appreciated..
Regards,
Arun

By: mvvsnmurthy

mvvsnmurthy — Tue, 01 Mar 2011 08:26:48 +0000

Dear Sharada madam

I am basically an electrical engineer.Presently I am working in a organisation and electrical incharge.

Now, I want to start my business like electrical contract works,& to put an office on my wife’s name , for which I am obtaining A – grade licence also from the concern officials.

My doubt is that is what are legal reqirements to start the business like registration, PAN number, bank account etc.

Please reply me.

Thanks & Regards

Murthy

By: Div

Div — Mon, 13 Dec 2010 07:02:28 +0000

First I would like to thank you for such help.

I am proprietor of a firm. I am facing different problem. For proof of My proprietorship of firm. and proof of my firm’s existence. As there’s no electric or phone bills or anything on my firm name. So is there any way I can register or do something that would prove that I am proprietor of the firm and firm exist. As Bank also want address proof on the name of firm.

Thanks Once Again,

Regards,
Div

By: Sid

Sid — Thu, 30 Sep 2010 17:11:34 +0000

Pls. contact me, i might have some web portal development work. siddharth.keshri@hotmail.com

By: Bhavesh

Bhavesh — Fri, 20 Aug 2010 10:46:16 +0000

It is not possible to convert but you can form a Company and then take over the business of the Proprietorship Firm

By: Raj

Raj — Fri, 20 Aug 2010 10:46:08 +0000

In one of the replies by Sharda, I read that it is not possible to “convert” a proprietorship to a private limited company. Please chk the thread once more. It’s worth going through again. Create a Ltd Co. & take over the assets of a Proprietary firm.

By: Raj

Raj — Fri, 20 Aug 2010 10:42:27 +0000

In one of the replies by Sharda, I read that it is not possible to convert a proprietorship to a private limited company. Please chk the thread once more. It’s worth going through again.

By: Bhavesh Savla

Bhavesh Savla — Mon, 26 Jul 2010 05:57:48 +0000

Depends on the PAN CArd. Only one return can be filed per PAN Card.

By: Bimal kumar

Bimal kumar — Mon, 26 Jul 2010 01:00:16 +0000

Whether proprietary firm has to file income tax return seprate or individual return including income from proprietary ship profession is sufficient

By: Bhavesh

Bhavesh — Sat, 10 Jul 2010 05:13:30 +0000

Yes. He can , if your salary exceeds Rs.5000 per month

By: Sowjanya

Sowjanya — Thu, 08 Jul 2010 07:52:03 +0000

hi sharada,

I am working in a proprietary concernship. only 3 employees are working here. So can he deduct professional tax from our salaries? kindly provide us the information.

By: Ritu

Ritu — Wed, 09 Jun 2010 06:54:52 +0000

Can anybody guide me with this complex situation…

I am already a partner in a partnership firm which is filing returns every year. Simultaneosuly, I am starting a private limited company with few other people. Now, Can I be a Director (Executive) of this private limited company and also continue to remain a partner in the partnership firm.

Please help!!!

By: Bhavesh Savla

Bhavesh Savla — Tue, 08 Jun 2010 12:27:31 +0000

Yes.

By: Bhavesh

Bhavesh — Fri, 28 May 2010 06:57:08 +0000

@ DN Upadhyay. The partnership firm does not have a seperate legal status apart from its partners.

The cheque bouncing cases relate to the firm as you mentioned that the cheques were in the name of the firm.
It doesnt matter which partner drew the cheque.

Each partner is jointly and severally liable for the actions of the firm and the other partners; except under some exceptions

If you have more details, you can write at ca.bhavesh.savla@gmail.com

By: DNUpadhyay

DNUpadhyay — Fri, 28 May 2010 05:30:46 +0000

A sole proprietorship firm is converted in a partnership firm, since the proprietor was having financial problems to run the business. The name of the firm remains same even after change in ownership mode. Now several cases relating to bouncing of cheques issued by the sole proprietor in the name of the firm has come up. Will the action of the sole proprietor affect the firm including other partner ?
Please reply on my e-mail. regards
Upadhyay

By: Bhavesh

Bhavesh — Mon, 24 May 2010 19:00:34 +0000

There can be a lot of issues like paying off liabilities.
You are getting the Company free but the liabilities may be so much that it may become very costly for you.

Also there may be hidden liabilities.
Expert professional advise needs to be taken.

We can help you in the entire transaction from the RoC and the Income tax poupose.
Contact us at savlataxconsultancy@gmail.com

By: Rajan Soni

Rajan Soni — Mon, 24 May 2010 05:52:49 +0000

Is there any problem in buying private limited company , which has made losses in 4 years, free of cost ? What are the probable issues?

By: mayank arora

mayank arora — Sun, 09 May 2010 17:19:22 +0000

Can u plz suggest me i just started a food delivery business will this come under sales tax or service tax….An which form is to be file form 8 or form 7 in U.P. LUCKNOW

By: Shabareesh

Shabareesh — Wed, 28 Apr 2010 01:46:09 +0000

Superb and very informative thread!. Good job….

By: Bhavesh

Bhavesh — Tue, 13 Apr 2010 09:31:51 +0000

We can help you in filing your tax returns and optimum tax planning.
kindly contact us at ca.bhavesh.savla@gmail.com

or 9869210600

Best regards

Bhavesh

By: anish mathew

anish mathew — Fri, 26 Mar 2010 07:42:08 +0000

Dear Sharda,
Kudos for your efforts, fantastic forum for people like us to get valuable information.
Iam planning to set up a Sole proprietary concern in the name of my fiancee and will be dealing in proprietary foods based in lucknow. What I would like to know is, is it possible for me to reserve a company name now for future use lest someone else registers it.

Thanks And Regards
Anish Mathew

By: dostanna

dostanna — Sun, 21 Mar 2010 02:32:24 +0000

Can two limited company can form a limited liability partership under the new law in india

By: Praveen

Praveen — Mon, 01 Mar 2010 13:30:02 +0000

Dear All,
I wnt to know from wich site i will be able to get information for the firm wch got newly registred?

By: Manoj

Manoj — Wed, 27 Jan 2010 09:48:51 +0000

Hello,

Posting a similar earlier question where I could not find an answer in this forum. I would like to open a sole prop firm in a name diffrent from my own (E.g., My name is Manoj, but I would like to open the sole prop firm in the name of XYZ Enterprises).

Questions:

1) How can I get a bank account in the name of XYZ Enterprises? What documents do I need to produce to the bank?
2) Do I need to register the firm anywhere for the bank account?
3) Can I issue Invoices, Receipts, Purchase Orders, etc in the name of the firm (XYZ Enterprises)?

I would appreciate if you could provide some inputs for the above questions

Best regards

MKJ

By: Vipul Mehta

Vipul Mehta — Sun, 24 Jan 2010 19:43:26 +0000

Dear Sharda,
I just wanted to know that one company Name M/s. Transelektra (Partnership firm) was transformed to M/s. Translektra Domestic Pvt. Ltd., in 1987. all the assets & liabilities, along with the immovable assets were been transfers. all the partners change to the directors.
So my question is does the transfer of Immovable assets attract any Stamp duty.
please do reply.
regards
Vipul

By: Harish

Harish — Wed, 20 Jan 2010 10:19:52 +0000

Ms. Sharda,
Thank you very much for this wonderful thread. I am planning to start a business and your thread has been very helpful to me.
It makes a lot of things clear for people not well versed with business laws.

By: ARVIND

ARVIND — Sat, 02 Jan 2010 13:32:52 +0000

Dear Sir /Madam,

Can we get PAN CARD for prorietorship business, not on individual name but on company name ?
Pls. guide us.

Thanks
Regards,
Arvind